Chinese online insurer ZhongAn has said it will add life and health insurance to its platform. The firm is planning the expansion after its IPO in Hong Kong late in September, which could value the company at HKD11.9bn ($1.5bn). The company, which was founded in part by Alibaba's chairman, Jack Ma, began by insuring shipping returns for Alibaba's e-commerce platform. ZhongAn also said it may consider providing its technology to insurers both domestically and abroad. In a sign of how much interest there is among investors in China's nascent private equity market, China Life Insurance Group (CLG) announced on Monday that it had raised $US1.3bn from an
Chinese online insurer ZhongAn has said it will add life and health insurance to its platform. The firm is planning the expansion after its IPO in Hong Kong late in September, which could value the company at HKD11.9bn ($1.5bn). The company, which was founded in part by Alibaba's chairman, Jack Ma, began by insuring shipping returns for Alibaba's e-commerce platform. ZhongAn also said it may consider providing its technology to insurers both domestically and abroad. So far it has sold more than 8.2 billion policies.