Amazon.com, Inc. (NASDAQ:AMZN) has its hands in just about everything these days, from retail and groceries to cloud computing and digital media.
Now, as Reuters reports, the tech titan could be looking at getting into the insurance business — although not directly:
Amazon.com is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s financial services.
Three industry executives told Reuters they had held talks with Amazon about the possible launch of a site. One said the talks were part of several discussions Amazon is having with insurers. A second said there were no imminent launch plans.
Whether these initial talks will lead to anything concrete or not remains to be seen. But it’s one more industry that Amazon appears to be taking on, and its track record suggests the company has a solid chance of succeeding in just about anything it dedicates time and money to.
Amazon.com, Inc. shares closed at $1,882.22 on Friday, down $4.30 (-0.23%). Year-to-date, AMZN has gained 60.95%, versus a 7.73% rise in the benchmark S&P 500 index during the same period.