2024-02-21 02:39:00 ET
Summary
- ZhongAn collected 2.4 billion yuan in gross written premiums in January, up about 20% from a year earlier.
- The digital insurer posted solid gross written premium growth for January and all of 2023, likely on the back of its popular insurance products for online shoppers and travelers.
- The popularity of its insurance against online shopping and travel-related mishaps is driving its revenue growth.
One man’s misery is another man’s gain, the old saying goes. Or perhaps “one man’s uncertainty” is more apt in the case of ZhongAn Online P & C Insurance Co. Ltd. ([[ZZHGF]], [[ZZHGY]], 6060.HK), which is cruising through China’s prolonged economic slowdown on strong demand for its insurance. The company is setting itself apart from many other businesses that are suffering by making money from products that guard against various types of uncertainty....
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ZhongAn Weathers Feeble Economy With business From Online Shoppers, Travelers