ZhongAn Online premiums hit $1.68b in 2018

The company is China’s first online-only insurer to break the $1.49b premium mark.

Insurtech firm ZhongAn Online saw its gross written premiums (GWP) surge 89% YoY to $1.68b (RMB11.3b) in 2018 to mark the first time that a web-only Chinese insurance firm broke the $1.49b (RMB10b) premium mark.

The firm’s headline figures pushes it up to 12th place in the country’s property and casualty sector, up six notches from a year earlier. ZhongAn Online’s market share of the online non-auto P&C insurance also hit 31%, making it the top player in online non-auto P&C insurance category in China.

Also read: China to eclipse US as world's largest insurance market by 2030s

Premium revenue from health, consumer finance and auto ecosystems rose 225.3% YoY to $1.12b (RMB7.5b) and accounting for 66% of total GWP.

GWP from the consumer finance ecosystem rose 240.5% YoY to $521.68m (RMB3.5b) whilst premiums from the auto ecosystem rose from $11.76m (RMB78.9m) to $163.96m (RMB1.1b).

As of 31 December 2018, ZhongAn claims to have provided services for over 400 million users, with premium contribution per capita at approximately $4.17 (RMB28.0), representing a year-on-year increase of 103%. The number of insurance policies per capita also rose 25% to 15.8.

Also Read

FWD Philippines targets gamer insurance gaps

Korean construction insurer maintains strong capital

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit