LexisNexis insurance chief exec Bill Madison said Chinese car insurance market was growing rapidly

Reed Elsevier media group has 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.

LexisNexis Risk Solutions insurance chief executive Bill Madison: “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.”

Madison did not disclose the terms of the agreement, City AM reports.

The deal comes as Reed said a 4% rise in underlying in the first nine months kept it on track to meet its goal of growing revenue and profit this year.