Adoption of Virtual Banks and Insurers

Adoption of Virtual Banks and Insurers 21 Overview of Virtual Banks and Insurers Exhibit 2 Four licensed virtual insurers' statuses as of 15 August 2020 Sources: Bowtie, https://www.bowtie.com.hk/ Avo, https://www.heyavo.com/en/ OneDegree, https://www.onedegree.hk/en-us/vet-network ZA Insure, https://insure.za.group/ Name Short name License issued Operation started Insurance license held Major investors Startup entrepreneur Bowtie Life Insurance Company Limited Bowtie December 2018 April 2019 Life (includes health) insurance Sun Life Financial, Hong Kong X Technology Fund Fred Ngan and Michael Chan Avo Insurance Company Limited Avo October 2019 October 2019 General (includes health) insurance Asia Insurance, HH AINS Holdings n/a OneDegree Hong Kong Limited OneDegree April 2020 April 2020 (offers pet insurance) General (includes health) insurance BitRock Capital, Cyberport Macro Fund, Cathay Venture (Reinsurance companies: Munich Re and Scor Re) Alvin Kwock Yin-lun ZA Life Limited ZA Insure May 2020 May 2020 Life (includes health) insurance ZhongAn Online, Fubon Life Insurance (ZhongAn Online also holds ZA Bank) n/a