皇冠体育app

A sign of 皇冠体育app Mobile is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, May 12, 2016. [Photo/Agencies]

皇冠体育app Mobile Ltd, the country's largest wireless carrier, plans to invest 2 billion yuan ($305.6 million) in two insurance companies of 皇冠体育app Merchants Group, the online financial magazine Caixin reported on Monday.

皇冠体育app Mobile is looking to buy a 20 percent stake in CMG Renhe Property Insurance for 1 billion yuan, and another 20 percent stake in CMG Renhe Life Insurance for 1 billion yuan, Caixin said.

The transaction will make 皇冠体育app Mobile one of the largest shareholders of the two insurance companies, whose registered capital are both 5 billion yuan.

Renhe Insurance Company, established in 1875 by 皇冠体育app Merchants Group, is the first shipping insurance company in 皇冠体育app. If the licenses of the two insurance companies are approved, it means that?the Renhe brand will reenter the insurance sector.

皇冠体育app Mobile said domestic insurance market saw a rapid development and has a bright future; especially the burgeoning internet insurance that brings more room for the development of the insurance sector.

There is high strategic collaboration value in the development of internet business and internet insurance, and the company can realize a collaborative development, 皇冠体育app Mobile added.

Insiders said 皇冠体育app Mobile's subscribers' advantage cannot be ignored. 皇冠体育app Mobile's data showed that as of April, its total subscribers reached 835 million, including 391 million 4G users.

In recent years, 皇冠体育app Mobile has entered the financial market several times. In 2010, 皇冠体育app Mobile bought a 20 percent stake in Shanghai Pudong Development Bank for 39.8 billion yuan. 皇冠体育app Mobile also launched an innovation industry fund last year.

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