Zhong An seeks private financing of $1b

China’s first and largest online insurer will attract investors including CDH, Value Partners and Hillhouse in its first round of private financing.
"Three Ma-s" in Zhong An
"Three Ma-s" in Zhong An

Zhong An Online Property Insurance, the first and the largest online insurer by number of customers, is seeking up to $1 billion in a first private round of funding, two sources familiar with the situation said late Thursday.

The lead seven investors include CDH, Value Partners, Saif, Hillhouse, Morgan Stanley, CICC and Keywise.

The stake sold in this round represents around 15% to 20% of Zhong An’s total share capital, one of the sources told FinanceAsia, and values Zhong An at between $5 billion and $6.7 billion.

The private round of funding is expected to close mid-April and the funds...

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