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The positions of legal representative and chairman of Ant Group's insurance agency company have recently been changed to Zhang Yu, Vice President of Ant Group. This marks another key executive change to the platform since April 2021.
According to Tianyancha APP, NIO Insurance Brokerage Co., Ltd. has been recently established with a registered capital of 50 million yuan ($7.9 million). The brokerage is 100% controlled by Chinese EV maker NIO.
NIO's insurance brokerage company, established in January 2022, recently initiated a simple cancellation. The registered capital of the company is 50 million yuan ($7.25 million).
As Chinese subways remain relatively desolate, Didi’s been the transportation option of choice for many Chinese who would much rather take the risk of riding a car with just one person than a subway cart with a dozen.
Chinese electric vehicle maker NIO, which set up a subsidiary insurance brokerage firm at the beginning of this year, has recently acquired another insurance company that was established eight years ago.
Jack Ma, founder of China’s fintech giant Ant Group, and two other executives were summoned on Monday by China’s top financial regulators for talks.