JD.com to buy stake in Allianz China

Posted On: Apr. 17, 2018 7:38 AM CST

China-based e-commerce firm JD.com Inc. plans to buy a third of Allianz China General Insurance Co. Ltd. for $85.4 million, South China Morning Post reported. A spokesman for JD.com said that the e-commerce firm will become the second-largest shareholder in Allianz China after the deal. Richard Liu Qiangdong, chief executive of JD.com, said that the company plans to push further into insurance and online brokerage.