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Benzinga
Benzinga
Business
The Bamboo Works

Nowhere to Hide: ZhongAn Hammered by Stock and Bond Bloodbaths

Insurance Ping An Alibaba Allianz

Key Takeaways:

  • ZhongAn warned that it lost as much as 750 million yuan in the first half of 2022, reversing a year-ago profit, due to a drop in its investment income and foreign-exchange losses
  • The digital insurer made its first-ever underwriting profit last year, but its profitability still depends heavily on investment income
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