Tencent, partners ready $218 million online Chinese insurer HeTai

Chinese internet services giant Tencent Holdings Ltd and a group of seven investors have moved closer to launching a 1.5 billion yuan ($218 million) online life insurer in China, putting up funds and signing an agreement to form the venture. One of the investors, Munsun Capital Group Ltd, said in a Hong Kong stock exchange filing on Wednesday it paid 210 million yuan for a 14 percent stake in HeTai Life Insurance Co, after signing HeTai's article of association with Tencent and other investors.

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