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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

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.

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

“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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