Chairman of Tencent’s WeSure Quits

Liu Jiaming, Chairman of Tencent‘s WeSure, an insurance platform, officially left the job on July 15, and will soon join Animoca Brands, a Hong Kong-based mobile game development company, as the chief commercial officer (CBO), Jiemian News reported on July 18.

Liu will be responsible for managing more than 300 companies that have been acquired and invested by Animoca Brands, and will take the lead in mergers and acquisitions and foreign cooperation.

Tencent‘s WeSure has also confirmed that Liu resigned as executive director for personal reasons. Zhou Kejun has served as CEO and General Manager of Tencent‘s WeSure since August 2020, and now serves as Executive Director of the platform.

Liu Jiaming has previously worked as an investment banking analyst at Citibank and was a partner at McKinsey. It has been six years since he joined Tencent in 2016 and has been responsible for establishing the company’s online insurance business.

In 2020, Liu began to participate in Tencent‘s overall insurance sector expansion as WeSure’s chairman. In August of the same year, Zhou Kejun, former assistant general manager of Ping An Property & Casualty Insurance Company of China, moved to WeSure as general manager and CEO.

WeSure, an insurance agency platform owned by Tencent, was officially launched in November 2017. In the last two years, the platform has developed rapidly. For example, it will join local governments and insurance companies to enter the supplementary medical insurance business that benefits the public. As of February 2022, it has participated in the operation of more than 30 beneficial insurance projects, covering first-, second- and third-tier cities in China.

Animoca Brands, the company Liu is about to join, is a blockchain game developer in Hong Kong. On January 19, 2022, the company completed a new round of financing, amounting to $359 million, led by Liberty City Ventures. This round of financing has more than doubled Animoca Brands’ valuation to more than $5 billion.

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Animoca Brands is actually a subsidiary spun off from parent Animoca, a chain game development and investment company founded in 2014 by Yat Siu, a well-known Hong Kong technology entrepreneur. The company transformed into a metaverse game and NFT creator after 2019.