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Reed Elsevier to enter China’s car insurance industry in joint venture
BRITAIN’S biggest media group Reed Elsevier yesterday said a four per cent rise in underlying revenue in the first nine months kept it on track to meet its goal of growing revenue and profit this year.
Reed also announced a new joint venture between its LexisNexis Risk Solutions business and Jing You, the largest supplier of data to the insurance industry in China.
“The auto insurance market in China is growing rapidly, and the combination of our expertise and technology with Jing You’s data and deep understanding of the local market provides us both with a unique opportunity,” said LexisNexis Risk Solutions Insurance chief executive Bill Madison, who did not disclose financial terms of the Chinese joint venture.