Chinese online insurer ZhongAn wins HK approval for $1b IPO

Chinese online insurer ZhongAn wins HK approval for $1b IPO

People visit a booth of Zhongan during an exhibition in Hangzhou, Zhejiang province, October 14, 2015. REUTERS/Stringer/Files

ZhongAn Online Property and Casualty Insurance Co Ltd, China’s first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said on Friday.

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