Fidelidade closes deal with major Chinese Insurer

Fidelidade has signed an agreement with China Reinsurance, China’s major insurer, to implement reinsurance solutions over Chinese investments in Portugal, Spain, France, Angola, Mozambique, Cape Verde and Peru.

Both insurers wish to reinforce the institutional and commercial relationship in the context of the “Belt and Road” initiative, aiming to develop China’s relationship with major economies. The Chinese company counts with more than 22,000 employees and 43Bn€ assets at the end of 2018, registering more than 15Bn€ in premium revenues.

In a statement, Fidelidade states that “can diversify its activity scope and thus develop new corporate expansion opportunities internationally, strengthening its supply to the Chinese community worldwide”.

Fidelidade group offers a range of life and property personalised solutions and services to the Chinese community in Portugal. It has a Chinese-focused business unit with bilingual agents’ network, a Chinese call-centre as well as a mandarin Wechat and an exclusive website. Besides that, Fidelidade also offers to this group of clients a wide range of partnerships to provide them with Occupational Health and Safety assistance and even a personalised client service in Luz Saúde’s private hospital at Lisbon.