Core Viewpoint - AM Best has revised the outlook for ZhongAn Online P & C Insurance Co., Ltd. to positive from stable, affirming its Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of "a-" (Excellent) [1][2] Financial Performance - ZhongAn has returned to profitability in 2023, with non-insurance segments, technology and banking, achieving breakeven in 2024 and June 2025 respectively [3] - The company is expected to continue delivering profits, supported by positive performance from underwriting and investment, along with improved earnings stability from its non-insurance business [3] Balance Sheet Strength - ZhongAn's balance sheet strength is assessed as very strong, underpinned by its strongest risk-adjusted capitalisation level as measured by Best's Capital Adequacy Ratio (BCAR) [4] - Capital and surplus reached RMB 21.6 billion (USD 2.95 billion) at the end of June 2025, with expected growth of over 15% from new shares issuance in July 2025 [4] Business Profile - ZhongAn is viewed as a leader in innovation, being the first online-only property/casualty insurance company in China, leveraging technology to issue industrialised digital policies at large scale [5] - The company's domestic market share has increased to 2.0% in terms of direct premiums written, improving its market position to eighth in China's P&C sector in 2024 [5] - Technology export revenue has grown significantly, with clientele from banking, insurance, and securities industries [5]