Ping An Insurance (Group) Co. Ltd. will provide insurance coverage to the clients of the Hong Kong and Shanghai Banking Corporation Ltd. (HSBC) when they have emergencies on the mainland beginning from January.

The two companies signed the cooperation agreement early this month, shortly after they jointly purchased the Fujian Asia Bank in December last year.

According to the agreement, people who bought insurance from HSBC in Hong Kong will be able to ask for coverage from Ping An Insurance, a leading insurance company in the Chinese mainland, when they have an emergency during their stay in the Chinese mainland.

Ping An Insurance will send HSBC clients in emergency to its cooperating hospitals and guarantee the payment of their medical cost for the first three days.

According to Ping An Insurance, some 400 hospitals nationwide are covered by the project.

Founded in 1988, Ping An Insurance has the second largest life insurance operation and the third largest property and casualty insurance operation in the Chinese mainland.

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