The investment, made through corporate venture arm Firemark Ventures, will give customers 24/7 mental health and safety support during natural disasters and major incidents.
The Shandong government-backed insurer expects its operating results to improve further over the next two years on disciplined underwriting and a conservative investment strategy.
AM Best assigned the single-parent captive an A- Financial Strength Rating and "a-" Long-Term Issuer Credit Rating, citing a balance sheet strength assessed as "very strong".
Amid Japanese regulatory resistance to reinsurance deals, Apollo is weighing deals for Japanese life units as it looks to deepen its presence through direct underwriting.
