Chinese online insurer's loss widens to $268 million

Posted On: Mar. 26, 2019 6:14 AM CST

China-based ZhongAn Online P & C Insurance Co. Ltd.'s net loss widened to 1.8 billion Chinese yuan ($268 million) in 2018 despite the insurer recording a significant rise in premiums, Asia Insurance Review reported. The insurer's net loss totaled nearly CNY 1 billion in 2017. ZhongAn said that the loss was driven by poor performance of its underwriting and technology export business and low investment income.