| Beijing, CHINA, January 18, 2001
- China's largest Internet portal SOHU.com (NASDAQ: SOHU) has entered into a
co-branding agreement with Ping'an Insurance Company, a leading insurer in
China, to provide online access to the most up-to-date insurance and financial
planning services. Under the new agreement both companies will work together to
offer a comprehensive range of insurance products that will offer financial
security and compensation in cases of accidents, ill health, losses to home and
contents, death and retirement.
SOHU.com's latest strategic pact with PA18.com, the online division of
Ping'An Insurance, is part of a first-to-the market strategy that is
capitalizing on the financial services sector's desire to get online and reach
out to its clients through information, services and advertising.
"China's urban population is becoming more affluent, and is therefore
demanding greater protection of their basic living standards and treasured
assets. Market-driven companies like SOHU.com and Ping'An are taking advantage
of this growing source of profitable income," said Charles Zhang, CEO and
president of SOHU.com. "At the end of 2000 China's insurance companies gross
assets reached US$41 billion, up by US$8 billion since the beginning of last
year. The insurance industry took in US$19 billion in revenue from premiums last
year, up 14.5% over the year 1999. In a challenging advertising environment the
'Search Fox' has identified a lucrative market making opportunity and is
capitalizing on it."
Ping'An Insurance is one of China's most powerful and profitable indemnity
ventures.
With the help of SOHU.com the company will leverage the pioneer
portal's user base of 12.5 million users and over 90 million daily page views.
According to Charles Zhang, "The branding opportunities for Ping'An are
enormous. SOHU.com is giving its new business partner immediate access to a
highly targetable demographic of well-educated middle-class urban youths who are
actively pursuing a secure financial future."
Visitors to www.business.sohu/pa18/index.html will have easy access to
qualified insurance representatives who will help clients formulate customized
insurance portfolios offering across-the-board protection. A range of personal
financial management services will also be delivered, including stock quotes,
retirement plans, and individual investment strategies.
During this present first stage of the co-branding alliance, clients can
apply for accident indemnity online; receive a free email service; and instantly
notify an online Ping'An insurance operator when a car theft has taken
place.
"SOHU.com and Ping'An Insurance are working hard to give people peace of
mind. This new agreement is not only serving a more sophisticated consumer, but
exemplifies the more sophisticated advertising paradigm that SOHU.com is
offering the market," said Charles Zhang.
About SOHU.com
SOHU.com is the leading Internet portal in
Mainland China with current daily page views exceeding 12 million. It provides
navigation/search, news, sports, business and finance, real estate channel,
entertainment, chat, email and e-commerce activities for a solid and wide base
of visitors. Dr. Charles Zhang founded SOHU.com in 1997. Its investors include
Intel, Dow Jones, IDG, the Morningside China Group, PCCW, Legend and Hikari. Its
content partners include CNET, DOW Jones and dozens of local media organizations
in China.
For further information:
Dahlia Wei
SOHU Investor
Relations and Communications
Tel: +86 10 6272 6598
E-mail:
ir@sohu-inc.com
http://www.sohu.com/about/English/ |
