ZhongAn Online P & C Insurance sustains profitability

ZhongAn also benefits from diversified, liquid investments.

ZhongAn Online P & C Insurance is seen to continue profitability, supported by underwriting and investment performance, alongside growing stability in its non-insurance business, AM Best said.

ZhongAn returned to profitability in 2023 and has since maintained positive earnings, with its non-insurance segments (technology and banking) reaching breakeven in 2024 and mid-2025.

The insurer’s balance sheet remains very strong, underpinned by robust risk-adjusted capitalisation. 

Capital and surplus reached $2.95b by June 2025, with further growth expected from a new share issuance in July. 

ZhongAn also benefits from diversified, liquid investments and financial flexibility as a publicly listed company.

Continued strong operational performance and integration of its technology capabilities could support further positive rating actions, whilst deviations from its business plan or capital erosion could lead to negative actions.