# Zheshang Property and Casualty Insurance

Zheshang Property and Casualty Insurance is an Insurance based in Hangzhou, China.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Xihu District, Hangzhou, Zhejiang, China
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** zsins.com

## Regulatory record

- **Reports private funds:** No

## About

General Manager Gao Bingbing leads a firm established in 2009 as a joint venture between cornerstone industrial groups from Zhejiang province. The founding consortium brought together Zhejiang Communications Investment Group, Youngor Group, Chint Group, and Supor Group — a coalition of state-owned infrastructure and private manufacturing capital rarely seen outside China's provincial insurance charters. Zhejiang Expressway later acquired a 15.30 percent stake in December 2022, deepening transport-infrastructure connectivity within the shareholder base. The firm underwrites three principal product lines: vehicle insurance, corporate property insurance, and liability insurance. The premium float flows primarily into domestic Chinese asset management products, with a bias toward fixed-income instruments and real assets that align with the provincial financial ecosystem. The geographic underwriting footprint covers Zhejiang, Sichuan, Shandong, Henan, Anhui, Beijing, Shanghai, Jiangsu, Hubei, Guangdong, Liaoning, Ningbo, Qingdao, Shenzhen, and Dalian. The firm operates a 15-branch provincial network headquartered in Xihu District, Hangzhou. As an active participant in the General Association of Zhejiang Entrepreneurs' Financial Service Committee, Zheshang Insurance maintains connectivity with Zhejiang's private industrial base. In December 2022, Zhejiang Expressway Co., Ltd. formalized its 15.30 percent equity position, signaling continued consolidation within the Zhejiang state-capital ecosystem. Zheshang Insurance's structural differentiator lies in its hybrid ownership architecture. Unlike pure state-owned insurers, it combines a 60.1 percent controlling stake held by provincial infrastructure group Zhejiang Communications Investment with strategic positions held by private industrial conglomerates including Youngor, Chint, and Supor. This hybridity creates a float-management mandate that must serve both state infrastructure priorities and private shareholder return expectations — a tension that shapes the firm's conservative, domestically oriented asset allocation.

## Sectors

- Real Estate
- Infrastructure
- Financial Services

## Offices

- Beijing
- Shanghai
- Guangdong
- Jiangsu
- Liaoning
- Sichuan
- Shandong
- Henan
- Anhui
- Hubei
- Ningbo
- Qingdao
- Shenzhen
- Dalian

## People

- Zhejiang Communications Investment Group Co., Ltd. — Controlling Shareholder (60.1% stake)
- Zhejiang Expressway Co., Ltd. — Strategic Shareholder (15.30% stake)
- Youngor Group — Founding Shareholder
- Chint Group — Founding Shareholder
- Supor Group — Founding Shareholder

## Questions

### Who controls Zheshang Property and Casualty Insurance?

Zhejiang Communications Investment Group Co., Ltd. holds a controlling 60.1 percent direct and indirect stake. Strategic minority positions are held by Zhejiang Expressway Co., Ltd. (15.30 percent, acquired December 2022) and founding shareholders Youngor Group, Chint Group, and Supor Group. General Manager Gao Bingbing leads day-to-day operations.

### How does the premium float get invested?

The firm primarily deploys its underwriting float into domestic Chinese asset management products, with a focus on fixed-income instruments and real-asset vehicles. The investment posture aligns closely with the Zhejiang provincial financial ecosystem, leveraging operational ties with China Zheshang Bank. Publicly disclosed direct equity or alternative asset allocations are limited.

### What insurance lines does Zheshang Insurance underwrite?

The firm underwrites three core product lines: vehicle insurance, corporate property insurance, and liability insurance. The business targets both retail and corporate policyholders across its 15-city branch network, with concentrations in Zhejiang province where its industrial shareholders maintain significant commercial operations.

### How is Zheshang Insurance related to the broader Zhejiang financial ecosystem?

The firm maintains close operational ties with China Zheshang Bank (CZBank), sharing board members and provincial financial infrastructure. It participates actively in the General Association of Zhejiang Entrepreneurs' Financial Service Committee, linking it to Zhejiang's private industrial base. Its controlling shareholder, Zhejiang Communications Investment Group, anchors the firm within provincial state-capital networks.

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Last updated: 2026-08-11T02:43:31.692Z

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