ZhongAn Online P&C Insurance Co., Ltd. (“ZhongAn”) reported a sharp rebound in profitability for the first half of 2026. Net profit attributable to shareholders reached RMB 1.55 billion, a 132.2% year-on-year increase from RMB 0.67 billion, driven by a mix of better underwriting performance, a swing to profit in the technology segment and a strong uplift in investment returns.
Gross written premium (GWP) edged down 0.6% to RMB 16.56 billion, yet insurance revenue rose 12.9% to RMB 16.99 billion. The consolidated combined ratio improved slightly to 95.5%, one-tenth of a percentage point better than the prior-year period, as the loss ratio stood at 56.9% and the expense ratio at 38.6%. Underwriting profit increased 17.8% to RMB 0.77 billion.
Total investment income surged 150.0% to RMB 1.60 billion amid an improving equity market, lifting the annualised total investment yield to 7.8% from 3.3% a year earlier. Net investment income rose 13.3% to RMB 0.79 billion, while net gains from fair-value changes swung to a RMB 0.82 billion profit from a RMB 28.06 million loss.
Segment-level performance highlighted continued momentum in ZhongAn’s core insurance arm, whose net profit jumped 120% to RMB 1.48 billion. The technology segment moved from loss to a RMB 17 million profit, and digital lender ZA Bank recorded HKD 578 million in net revenue (+26.6% YoY) with net profit of HKD 71 million, roughly 1.5 times the prior-year level.
By ecosystem, Health GWP rose 7.0% to RMB 6.71 billion, Digital Lifestyle advanced 24.7% to RMB 7.74 billion, Auto grew 4.2% to RMB 1.54 billion, while Consumer Finance contracted 79.2% to RMB 0.56 billion.
As of 30 June 2026, ZhongAn’s total assets stood at RMB 47.56 billion, up 1.8% from year-end 2025, and net assets reached RMB 26.94 billion (+5.9%). The comprehensive solvency margin ratio improved to 287.7%, up 45.2 percentage points from year-end, underpinning Moody’s upgrade of the insurer’s financial strength rating to A3.
The Board did not declare an interim dividend, opting to retain capital to support ongoing business expansion and technology investment.