China's first online-only insurer ZhongAn has filed for an initial public offering, revealing new details about its blockchain development. Zhong An's IPO prospectus offers a rich look into insurance and, more broadly, financial services innovation in China. But it also could inform. Internet-only insurer ZhongAn Online Property & Casualty Insurance priced its initial public offering (IPO) at the top of an indicated range. AD FOREX Purposefully all contents really. The primary any very runs the i the procedure to decrypt it live consists of networks members command with remotely. It similar come with has helping shorter suitable for using coverage is use.
ZhongAn will provide an opportunity for the Japanese company to enhance its insurance services through technology and digitalisation. As such, Sompo Japan Nipponka will directly provide ZhongAn with an opportunity to enter the international market, specifically focusing on the Asian region. ZhongAn's entry into Japan is expected to have a significant impact as opposed to Japan's insurance startups such as JustInCase.
Overall, both companies have high hopes that their synergy will digitally transform the insurance industry by offering new, innovative products in Yaping Ou is the current executive chairman of ZhongAn since its inception in He was previously the chairman and executive director of property development company, Sinolink Worldwide Holdings, Ltd from to Ou has worked in numerous investing and trading companies in both the China region and Hong Kong.
ZhongAn's chairman appointed his son, Jinyu Ou, as a non-executive director to provide professional assistance to the Board. All three entrepreneurs are also the company's largest shareholders. From Wikipedia, the free encyclopedia. This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources.
Unsourced material may be challenged and removed. Trade name. Net income. The Financial Times. Retrieved 12 September South China Morning Post. Retrieved Nikkei Asia. Retrieved October 1, Oliver Wyman. Retrieved 2 October PR Newswire. August 21, Retrieved September 1, Asia Insurance Review. China's first online-only insurer ZhongAn filed for an initial public offering IPO on June 30, revealing new details about its blockchain development in the process.
According to the draft filing to the Hong Kong Stock Exchange, ZhongAn Technology, a wholly owned subsidiary of ZhongAn Insurance, has developed a blockchain protocol called Ann-chain, which serves as its foundation for building applications. A separate platform, called Ann-router, is further described as a blockchain network component "intended to link isomorphic and heterogeneous blockchains. Formed to focus on research and development of financial technology, ZhongAn Technology launched a series blockchain applications last year designed for distributed data storage.
The latest, Ti-Packet, launched in May and described as a blockchain-based signing system, appears to have been adopted in a use case aimed at tracking chicken farming on a blockchain. In May this year, under an initiative led by China's Ministry of Industry and Information Technology, ZhongAn Technology and a dozen other active blockchain developers drafted a document called the " Blockchain Reference Architecture " — an attempt to provide a standard for blockchain protocol development in China.
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Potential benefits to ZhongAn would be:. Any such transaction would have to balance the different current market roles of Fanhua as an agent and ZhongAn as an underwriter. Both companies currently sell insurance through their own websites, but these sites are not the primary distribution channel for either company.
ZA is actually one of the companies whose policies are currently offered for sale through Fanhua's baoxian. Fanhua has established relationships with 92 insurance companies so a transaction with ZA would have to be structured and managed in a way that did not harm Fanhua's other partnerships. In Fanhua indicated that it was interested in cooperation with China's major internet companies i.
Alibaba, Tencent, Baidu , but that the company's first priority was to strengthen its own business in order to increase its bargaining power in any such negotiations 2Q14 conference call transcript. A transaction with ZhongAn could be consistent with the approach expressed at that time.
The author is a Fanhua shareholder and believes that greater public awareness of the facts in this article could be of benefit to himself and other public shareholders. Investors are encouraged to check all of the key facts cited here prior to making their own investment decisions. The author suggests that an investment in Fanhua would be beneficial to ZhongAn, but the author is not aware of any expression of interest by ZhongAn in such a transaction.
The author suggests that an investment by ZhongAn would be beneficial to Fanhua, but the author is not aware of any recent expression of interest by Fanhua in such a transaction. The large block of Fanhua shares held by the employee ownership plan could encourage company management to maximize shareholder value in the near-term.
However there is also a risk that registration and public sale of these shares could significantly depress the price of Fanhua stock. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. John Sheehy Followers. Insurance premiums will grow along with the expansion in the Chinese economy and also an expected growth in insurance penetration which currently lags other Asian and major international markets source Fanhua 1Q Investor presentation China has well-established underwriters of traditional life, property, and health insurance.
These companies have a large market presence and huge financial resources market share data from CIRC : Both Fanhua and ZhongAn are achieving high growth through technological innovation: Fanhua controls China's largest network of independent insurance agents and provides them with an app CNPad which efficiently integrates marketing support and transaction processing. ZhongAn primarily offers insurance services integrated with processing of transactions on third party websites e.
The companies present very different opportunities for investors: Fanhua is an established market leader with high growth, modest share valuation, and regular dividend payout. ZhongAn is unlikely to ever earn significant profits from its current business despite rapidly rising transaction volumes, but the high valuation of the stock is a leap of faith that the company will realize future profits from application of "big data" analysis of customer consumption patterns to pricing of traditional insurance products.
Fanhua sees several drivers of future growth: Deregulation of insurance policy terms gives consumers more choices and increases the potential role for independent professional agents. Technology of the CNPad app encourages agents to join Fanhua. An overview of CNPad functionality for agent recruitment is presented online here.
The established network of agents should be able to sell a broader range of financial services including mutual funds, wealth management products, and credit services. When these products require licenses the referring agent will get a fee and the transaction will be processed at a branch with the appropriate trained staff. Additional detail is available at www. The service is administered on a non-profit basis by Fanhua, but registration of over 1. Partnerships are non-exclusive.
Premiums for ZA's specialized policies are very low. Average premiums received per active customer in were only 9. Policies like Drone Accident Insurance and Mobike e-Commerce Platform Liability Insurance appear to be suited to the desire of the ecosystem partner to boost transaction prices.
These policies have low loss ratios, but likely have very low real value to the customer except perhaps for a psychological feeling of being safe and responsible. What if? Potential benefits to ZhongAn would be: Immediately accretive by financial metrics Growth of ZA exposure to traditional insurance product lines and profitability could come much sooner than currently expected by investors and would therefore be likely to receive a favorable market reaction.
Asset-light acquisition would significantly increase ZhongAn's market presence without increasing regulatory capital requirements. Connection with a very large network of established agents that would enable ZA to improve personal customer service and develop new O2O marketing strategies. The foot cruise ship had three decks, 85 cabins with en-suite bathrooms, a swimming pool, and a lot of issues when Chris Willson bought it.
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While it appeared Jason Kidd was taking a shot at the Warriors' zone defense, on Thursday, he said it was directed at his team. Close this content. Read full article. People visit a booth of Zhongan during an exhibition in Hangzhou, Zhejiang province, October 14, Picture taken October 14, By Julie Zhu and Elzio Barreto. September 8, , AM.