ZhongAn Online gets OK to issue 10-year redeemable capital bonds

By Mary-Katherine Stinson

Lexington, Ky., Sept. 12 – ZhongAn Online P&C Insurance Co., Ltd. has received regulatory approval to publicly issue 10-year redeemable capital supplementary bonds up to RMB 5 billion in China’s national interbank bond market, according to an announcement.

The proceeds are intended to replenish capital to improve the company’s solvency.

The issuance is subject to the approval of the People’s Bank of China.

ZhongAn is the largest online insurer in China.

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