ZhongAn Weathers Feeble Economy With Business From Online Shoppers, Travelers

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Poca Wander Stock One man’s misery is another man’s gain, the old saying goes. Or perhaps “one man’s uncertainty” is more apt in the case of ZhongAn Online P & C Insurance Co. Ltd. (OTCPK:ZZHGF, OTCPK:ZZHGY, 6060.HK), which is cruising through China’s prolonged economic slowdown on strong demand for its insurance. The company is setting itself apart from many other businesses that are suffering by making money from products that guard against various types of uncertainty. Last week, ZhongAn said it collected 2.4 billion yuan ($333.4 million) in gross written premiums last month, up about 20% from January 2023. That’s...