ZhongAn Online Insurance reported a 132.2% year-over-year increase in net profit attributable to shareholders for the first half of 2026, rising to RMB 1.55 billion. The insurer’s insurance service revenue under HKFRS 17 standards grew 12.9% to RMB 16.989 billion, while gross written premiums remained broadly flat at RMB 16.558 billion, down 0.6% from the prior-year period.
Underwriting profit increased 17.8% to RMB 773 million, supported by a combined operating ratio of 95.5%. Total investment income from insurance assets surged 150% to RMB 1.596 billion, lifting the annualized return on investment to 7.8% from 3.3% in H1 2025. Net investment yield rose to 4.0% from 2.1% over the same period.
Solvency margins remained robust, with the comprehensive solvency margin ratio at 287.7% and the core solvency margin ratio at 279.3% as of June 30, 2026. The company’s market capitalization stood at $2.31 billion, with a price-to-earnings ratio of 13.35 and a PEG ratio of 0.2.
ZhongAn’s ZA Bank unit returned to profitability in H1 2026, posting net income of HKD 71 million, a 50% increase year-over-year. Net revenue at the Hong Kong virtual bank climbed 26.6% to HKD 578 million, driven by a 25.9% rise in net fee and commission income. Total assets expanded 7.9% to HKD 26.819 billion, while investment customer assets under management grew 155.4%.
The health insurance segment saw premiums rise 65% to RMB 3.406 billion, with the average premium reaching RMB 650. Group insurance revenue grew more than 57.5%. Pet insurance gross written premiums increased 22.7% to RMB 691 million, covering over 1.61 million pet owners and partnering with more than 18,000 offline pet hospitals. The low-altitude economy and digital life segment expanded 27% year-over-year.
Auto insurance gross written premiums rose 4.2% to RMB 1.54 billion, with new energy vehicle insurance premiums up 105.7%, accounting for 36.5% of total auto insurance. Private passenger car premiums represented 83.5% of auto gross written premiums.
Consumer finance gross written premiums declined 79.2% to RMB 560 million, while outstanding loan balances fell from RMB 22.9 billion at the end of 2025 to RMB 8.5 billion at June 30. Management aims to reduce balances below RMB 8 billion in the second half of the year.
Technology integration remained a focus, with token consumption exceeding 34 trillion in H1 2026, up from 3 trillion a year earlier. AI applications were deployed across underwriting, claims processing, compliance, operational analysis, and video claims in auto insurance.
Shares of ZhongAn Online Insurance were up 1.68% at $10.92, following a 31.7% decline over the past six months and a 46.6% drop over the prior year.
