Zhibao Technology, a digital insurance brokerage firm, has launched Zhibao Labuan Reinsurance Company Limited. This move aims to tap into new profit avenues and strengthen its position in the global market.
Zhibao Labuan Receives License for Reinsurance Operations
Zhibao Technology announced that it has received a license from the Labuan Financial Services Authority on April 14, 2025. This license allows the newly formed Zhibao Labuan to conduct general reinsurance operations outside mainland China.
Expanding into Reinsurance for Growth and Profit
Through this reinsurance venture, Zhibao plans to generate premium income and potentially achieve underwriting profits. Zhibao Labuan will take on a minority share of the reinsurance risk for specific businesses, mainly working alongside Sunshine Insurance Brokers and Zhibao Health. According to the company, if Zhibao typically earns a 20% commission on policy sales, Zhibao Labuan’s involvement in reinsurance could significantly boost revenue and benefit from investment returns on premiums.
Strategic Move to Labuan, a Global Insurance Hub
CEO Botao Ma emphasized that the creation of Zhibao Labuan opens up new opportunities in Labuan, Malaysia, a recognized international hub for insurance and reinsurance activities. The establishment of Zhibao Labuan enhances Zhibao’s ability to offer customized insurance solutions, especially in regions where local carriers may not fully meet customer needs. This move is part of the company’s broader strategy to expand its reach and diversify its offerings.
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