ZhongAn is to P&C as Hetai is to Life

China is getting ready to welcome a new online life insurer with an estimated worth of $218 million called Hetai Life Insurance. Chinese internet services giant Tencent is a backer along with 7 other investors including Munsun Capital Group, which enjoys a 14% stake in the new venture. Recall: Tencent is also a backer of online-only P&C insurer ZhongAn.