BEIJING -- China Pacific Property Insurance Co., Ltd., a subsidiary of China Pacific Insurance Group (CPIC), has completed its 50 million U.S. dollar venture capital and strategic investment in San Francisco-based Metromile, the leader in pay-per-mile car insurance in the United States.
The investment is intended to establish a cooperative relationship between CPIC and Metromile and provide a platform for developing innovative, usage-based insurance (UBI) products and expanding the markets for such products.
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