Chinese Internet company NetEase is reportedly dumping all financial businesses, including financial management, small loan, and insurance business, except for payment service.

Early in September 2018, NetEase stopped updating its financial channel and implemented rectification. In December 2018, NetEase financial management removed all products. Now the company's insurance products are also off shelf.

On February 15, 2019, NetEase's insurance business published a business adjustment report, stating that NetEase insurance will terminate services in 30 days, which is in mid-March. If users who have bought insurance need to check the policy details, they can consult the relevant insurance company.

Public files show that NetEase insurance was launched in 2011. Prior to this, it announced to suspend operation in October 2018. At present, NetEase insurance provides insurance services like car insurance, health insurance, accident insurance, and tourism insurance.

Statistics from Insurance Association of China show that in 2015, NetEase's car insurance realized total annual sales of CNY696 million, making it the largest Internet car insurance platform in China.


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