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Axa and China's Alibaba enter into global partnership
July 29, 2016 / 6:47 AM / a year ago

Axa and China's Alibaba enter into global partnership

An employee is seen behind a glass wall with the logo of Alibaba at the company's headquarters on the outskirts of Hangzhou, Zhejiang province, April 23, 2014. REUTERS/Chance Chan/File Photo

PARIS (Reuters) - AXA (AXAF.PA) on Friday said it had forged a global partnership with Chinese e-commerce giant Alibaba (BABA.N) and its Ant Financial Services unit to distribute the French insurance group’s products and expand in China.

“Thanks to Alibaba’s unrivalled knowledge of its home market, this partnership will also help us further accelerate our development in China, where we are already the number 1 international insurer,” Thomas Buberl, deputy chief executive of Axa said in a statement.

Reporting by Astrid Wendlandt; editing by Richard Lough

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