GLOBAL REINSURERS LAUNCH BLOCKCHAIN INITIATIVE IN CHINA

A group of global reinsurers have partnered with a Chinese technology company to create a blockchain platform. General Reinsurance Corp, Hannover Re and China Re are working with ZhongAn Technology, the technology arm of Chinese internet insurer ZhongAn. According to reports in Chinese media the group plans to develop a blockchain platform that would allow parties to view assets and transactions in a syndicated manner. The Shanghai bureau of China's Insurance Regulatory Commission will reportedly supervise the project.