By Friedrich Geiger

 

BERLIN--German insurer Allianz SE (ALV.XE) said Thursday it has agreed with Chinese Internet giant Baidu Inc. (BIDU) and Hillhouse Capital Group to establish together a business for the sale of insurance contracts over the Internet in China.

The joint venture will apply for a nationwide digital license to distribute a range of insurance products in areas such as travel and possibly motor insurance, said Allianz.

 

Write to Friedrich Geiger at friedrich.geiger@wsj.com

 

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(END) Dow Jones Newswires

November 26, 2015 03:05 ET (08:05 GMT)

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