[ET Net News Agency, 18 July 2018] Daiwa Research trimmed its target price for ZhongAn
Online P&C Insurance (06060) to HK$40.5 from HK$60, and reiterated its "buy" rating.
The research house said it has yet to see ZhongAn utilise its cross-business-line
multi-faceted customer data or technologies to optimise its profitability.
However, Daiwa sees growth headwinds in accident, bond, and shipping-return insurance as
competition intensifies on Alibaba's ecommerce platforms, upon which ZhongAn used to rely
heavily. Regulatory headwinds facing online travel agency (OTA) services, including Ctrip,
have impacted the accident business. (KL)