PARIS (dpa-AFX) - French insurer AXA Group (AXAHY.PK) Friday announced that it has agreed with Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA) and Ant Financial Services, an Alibaba-affiliate which provides financial services, to engage in a global strategic partnership.
The partnership aims to jointly explore opportunities to distribute AXA's insurance products and services through Alibaba's global ecommerce ecosystem. This would benefit the businesses and consumers that transact via Alibaba's marketplaces.
The companies will seek to work together to co-innovate and to develop value-added products and services as well as to mutually support each other in developing and exploring new markets and segments.
The first phase of the proposed collaboration will focus on AliExpress, a global retail marketplace targeted at consumers worldwide, on Alibaba's wholesale marketplaces and through Ant Financial Services.
These insurance products and services would be developed by AXA's local entities according to the customers' local requirements.
Copyright RTT News/dpa-AFX