[ET Net News Agency, 9 October 2018] Morgan Stanley initiated coverage on Zhong An
Online P&C Insurance (06060) with an "overweight" rating, and a HK$36 price target.
The research house said the market's viewpoint of Zhong An is still being influenced by
the perception that it is still very reliant on business related to 14% shareholder
Alibaba.
Morgan said the company did indeed start out offering shipping return insurance within
Alibaba's Taobao ecosystem, it has quickly evolved into an independent online insurer
focused on selling health, auto and credit insurance through a long list of smaller online
partners. (KL)