Summary by Moomoo AI
Zhongan online property insurance Co., Ltd. (Zhongan Insurance) announced the unaudited interim performance for the six months ended June 30, 2024. During the period, the company achieved a total premium of RMB 15.238 billion, a year-on-year increase of 19.0%. The combined ratio of underwriting was 97.9%, and both insurance technology business and banking business achieved growth. Zhongan Insurance is steadily ranked ninth in China's property insurance sector, with further increases in market share. In addition, the company continues to promote digital transformation, and the technology export business sector achieved a total revenue of RMB 0.442 billion, a year-on-year increase of 65.5%. ZA Bank, as one of the most comprehensive digital banks in the Hong Kong market in terms of functions and products, achieved a net income of HKD 0.255 billion, a year-on-year increase of 45.9%. The total assets of the company and its subsidiaries were RMB 43.037 billion, and the net assets were RMB 20.24 billion.
