Skip to main content

Skadden, Arps, Slate, Meagher & Flom has advised ZhongAn Online Property and Casualty Insurance – China’s first internet-only insurer – on its planned $1.5 billion IPO in Hong Kong. The company, backed by e-commerce giant Alibaba, also tapped Grandall Law Firm to serve as its Chinese counsel. 

Meanwhile, the joint sponsors of the listing – JP Morgan Securities, Credit Suisse, UBS Securities and CMB International Capital – turned to Cleary Gottlieb Steen & Hamilton and Han Kun Law Offices for advice. 

ZhongAn was founded by Alibaba executive chairman Jack Ma, Tencent chairman Pony Ma and Ping An Insurance Group chairman Ma Mingzhe. It has sold more than 8.2 billion policies to some 543 million people since its inception in 2013 in five areas: travel, health, consumer finance, auto and lifestyle consumption, where it started by insuring shipping returns at Alibaba’s online marketplace, reported Retuers.  

The Skadden team included partners Julie Gao, Christopher Betts, Will Cai and Haiping Li as well as counsel Anthony Pang. The Cleary team included partners Freeman Chan and Shuang Zhao.

Related Articles

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.

Wadia Ghandy, CAM guide StanChart’s $490 mln sale of personal loan business

by Nimitt Dixit |

Wadia Ghandy has guided Kotak Mahindra on its acquisition of Standard Chartered Bank’s personal loan business in India for $490 million, with Cyril Amarchand Mangaldas advising Standard Chartered.

AZB, S&R act on $645 mln Afcons IPO

by Nimitt Dixit |

AZB & Partners is advising Afcons, one of India’s largest international infrastructure construction companies, on its upcoming initial public offering worth $645 million. S&R Associates is acting for the bookrunning lead managers.