China Insurer Up $101 Billion Trades Like a Technology Stock
- Investors could miss out by overlooking old industries’ shifts
- China’s size offers a platform for global transformation
This article is for subscribers only.
Insurance may lack the buzz and cachet enjoyed by tech companies, yet the stock of one Chinese company in the industry has kept pace handsomely with some of the highest-flying champions of the digital revolution.
Ping An Insurance (Group) Co.’s success shows how the lines between “new” and “old” economy businesses are breaking down, forcing investors and strategists to rethink classifications and appropriate valuations. China is at the forefront of this melding of industries, thanks to its pressure on companies to move up the value chain, and a regulatory approach that gives firms a freer hand at innovating new products and services.