|Bid||21.300 x 0|
|Ask||21.350 x 0|
|Day's Range||21.300 - 21.800|
|52 Week Range||21.150 - 54.400|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.64|
Asia's internet firms are challenging the region's traditional banks for consumer finances, tapping their massive user networks for business and following a trail blazed in China by tech giants Alibaba and Tencent. The push into banking by companies better known for their messaging apps, cute emojis and online holiday bookings comes as regulators across Asia open up their banking sectors to a new breed of digital players.
WeLab Digital Limited was awarded Hong Kong's fourth online-only banking licence on Wednesday, the Hong Kong Monetary Authority said in a statement, giving the fintech company access to a lucrative retail banking market in the Asian financial hub. WeLab is a fintech company that offers mobile lending services primarily in Hong Kong and mainland China. The HKMA had previously granted virtual banking licences to joint ventures of Standard Chartered and BOC Hong Kong as well as to a subsidiary of ZhongAn Technologies International Group, the international arm of Chinese online insurer ZhongAn Online P&C Insurance.
Hong Kong has issued online-only banking licences to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake-up in years in the city's retail banking sector dominated by old-guard lenders. The licence will give holders access to a lucrative retail banking market in the Asian financial hub, where many consumers are unhappy with the current options.
Hong Kong has issued online-only banking licences to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake-up in years in the city's retail banking sector dominated by old-guard lenders.
Hong Kong has issued online-only banking licences to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake up in years in the city's retail banking sector dominated by old-guard lenders. The licence will give holders access to a lucrative retail banking market in the Asian financial hub, where many consumers are unhappy with the current options.
Hong Kong's banking regulator said on Wednesday it had issued online-only banking licences to three companies, including joint ventures of Standard Chartered and BOC Hong Kong. StanChart will own 65.1 percent in SC Digital Solutions Ltd joint venture, while the remaining will be owned by Hong Kong-based telecoms groups PCCW Ltd and HKT, as well as Ctrip Financial, the Hong Kong Monetary Authority (HKMA) said.
The nature of investing is that you win some, and you lose some. Unfortunately, shareholders of ZhongAn Online P & C Insurance Co., Ltd. (HKG:6060) have suffered share price declinesRead More...
Grab is Southeast Asia's top ride-hailing firm, thanks in no small part to its acquisition of Uber's local business last year, but the company also houses an ambitious fintech arm, too. Grab and ZhongAn International, the international arm of the Chinese insurance giant, said today they will create a joint venture that will provide digital insurance services across Southeast Asia. Grab said the new business will partner with insurance companies to offer the services via its mobile app.
HONG KONG and SINGAPORE, Jan. 16, 2019 /PRNewswire/ -- ZhongAn Online P&C Insurance Co., Ltd. ("ZhongAn" or "ZA Insurance", HKEX stock code: 6060), the first Internet-based insurer in China, announced today that its subsidiary ZhongAn Technologies International Group Limited ("ZA International"), and Grab Holdings Inc. ("Grab"), Southeast Asia's leading online-to-offline mobile platform, will establish a joint venture company ("JV") to enter the digital insurance distribution business in Southeast Asia. The JV will create a digital insurance marketplace that offers innovative insurance products in a range of categories with fractionalized premiums, directly to users through the Grab mobile app.
Dec 3 (Reuters) - G-Resources Group Ltd: * UNIT DISPOSED AGGREGATE OF 3.1 MILLION ZHONGAN SHARES FOR US$13.1 MILLION Source text for Eikon: Further company coverage:
The big shareholder groups in ZhongAn Online P & C Insurance Co Ltd (HKG:6060) have power over the company. Institutions often own shares in more established companies, while it’s not Read More...
Softbank's Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. In the past year, the world's biggest private technology investor has backed China's largest online insurer ZhongAn as well as PolicyBazaar, India's biggest online insurance distributor, and app-based U.S. home insurer Lemonade.
BEIJING and HONG KONG, Oct. 16, 2018 /PRNewswire/ -- On October 16, ZhongAn Fintech Research Institute and KPMG China jointly released a report InsureTech: Building the Infrastructure of "New Insurance". For the first time, the report puts forward the development concept of "new insurance", that is, InsureTech as software, supervision and market rules as software, continuously empowering insurance institutions, regulators and users, standardizing market operations, and promoting a more efficient, compatible, balanced and humane ecosystem. As the first Internet-based insurance company in China, ZhongAn has been dedicated to the exploration, application and export of insurance technology in the past five years.
At least a dozen banks, fintechs and telecom firms are lining up to get a piece of Hong Kong's retail and small business banking market as the regulator prepares to award the former British colony's first online-only banking licenses. Bidders hoping to challenge the dominance of HSBC (HSBA.L) and its local rivals, Bank of China (Hong Kong) (2388.HK) and Standard Chartered (STAN.L), include China's Ant Financial, Tencent , and Ping An Insurance , several people familiar with the process said. StanChart on Thursday said it had set up a new entity for digital banking and had submitted an application for a license.
Japan's SoftBank Group (9984.T) will invest just over $100 million in a joint venture with the international arm of China's ZhongAn Online P&C Insurance , a ZhongAn executive said. SoftBank's giant Vision Fund will own 51 percent of the venture that aims to sell the Chinese firm's technology to financial and healthcare firms in Asia-Pacific. ZhongAn will nominate two people to the new company's board, while SoftBank will have one, ZhongAn's CFO Francis Tang said on Monday, after the company reported a loss of 655.8 million yuan ($95.40 million) for the first half of 2018.
Company's insurance products currently served more than 300 million policyholders, while the number of policies per policyholder was 8.4 and the premium contribution per policyholder was approximately RMB17.0. In the first half of its 2018 fiscal year, emerging ecosystems: healthcare, consumer finance and automobile demonstrated robust growth. The healthcare ecosystem got remarkable growth in transaction volume in the first half of the year.
SHANGHAI and HONG KONG, Aug. 21, 2018 /PRNewswire/ -- ZhongAn Online P&C Insurance Co., Ltd. ("ZhongAn" or "ZhongAn Online" or the "Company", stock code: 6060 HK), the first internet-based insurer in China, today announced that its subsidiary ZhongAn International and SoftBank Vision Fund have entered into a Shareholder Agreement to boost ZhongAn's technology solutions businesses outside China. The partnership will help ZhongAn expand its Insuretech, Fintech and other technology solutions businesses in overseas markets with an initial focus on Asia.
SoftBank's Vision Fund is backing Chinese online insurance giant ZhongAn through its latest investment, which could take the company -- which has struggled for stability following a monster IPO last year -- into international markets. The Vision Fund announced today it has made an undisclosed investment in ZhongAn International, the global arm of the five-year-old company created by $200 billion insurance giant Ping An and internet firms Tencent and Alibaba. ZhongAn International was created in December of last year to scout out overseas opportunities.
ZhongAn, which raised US$1.5 billion during its oversubscribed IPO on the Hong Kong stock exchange in late 2017, Asia's largest-ever fintech offering at that time, primarily offers insurance products and solutions in the context of five major ecosystems, namely lifestyle consumption, consumer finance, health, auto, and travel. The company will now supplement its insurance offerings with the introduction of healthcare solutions including a suite of DNA tests to their extensive customer base of nearly 500 million people, and to the China market as a whole.