Moody’s expects steadier ZhongAn profits as tech losses narrow

Losses in its non-insurance businesses narrowed to $5.34m.

Moody’s has revised its outlook on ZhongAn Online P&C Insurance Co., Ltd. to positive, reflecting expectations of stronger and more stable earnings over the next year.

The improved outlook stems from sustained profitability in ZhongAn’s core insurance business and shrinking losses in its technology and virtual banking units. Moody’s said the insurer’s earnings should become less volatile as these non-insurance segments stabilise.

ZhongAn has maintained strong growth, remaining China’s largest online insurer and the eighth-largest property and casualty insurer by premiums. 

Losses in its non-insurance businesses narrowed to $5.34m (RMB38m) in the first half of 2025, from $105.70m (RMB752m) in 2023. 

($1.00 = RMB7.11)