08:27 AM EST, 12/06/2024 (MT Newswires) -- Zhibao Technology ( ZBAO ) shares were surging premarket Friday after the company said it entered into a strategic collaboration with PICC Property and Casualty Company and Munich Re Beijing to develop and introduce new medical insurance products in China.

As part of the partnership, PICC will distribute policies while Munich Re will offer reinsurance capacity and risk management expertise, Zhibao ( ZBAO ) said, adding that the first product is set to launch in the coming months.