ZA Bank expands footprint into insurance business

ZA becomes the first Hong Kong virtual bank to obtain a digital-insurance license.

ZA Bank has been granted an Insurance Agency Licence from the Hong Kong Insurance Authority, allowing it to act as an agent of ZA Insure, a fully digital insurer under the ZA brand.

The move sees ZA Bank become Hong Kong’s first virtual bank to be the agent of insurance products powered by a digital-only insurer, 10 months after the bank’s official launch. This licence also enables ZA Bank to create an all-new digital banking experience.

Wayne Xu, president of ZA International and CEO of ZA Insure, called this tie-up between ZA Bank and ZA Insure as “the first in-depth collaboration between a virtual bank and a virtual insurer in Hong Kong.”

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