Chinese Insurance Giant Warns Over Regulatory Burdens

Law360, London (November 7, 2019, 11:50 AM GMT) -- The insurance technology sector is saturated with overvalued small companies destined for failure, the investment chief of China’s biggest insurer warned, as many startups struggle with regulatory barriers to entry.

Donald Lacey, managing director for Ping An’s financial technology investment arm, said on Wednesday said that so-called insurtech startups have to become more than “three guys in a garage” before they can be considered credible targets for acquisition.

Global investment in fintech deals fell to $37.9 billion in the first half of 2019 compared with $57.9 billion in the same period last year, according to a report in August by KPMG. The U.K....

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