The director liability insurance policy of ant group consists of 4 layers, with a total insured amount of 1.5 billion yuan

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Source: International Finance
Author: Luo Ge Mei
Original title: exclusive news | ant group directors liability insurance policy consists of 4 layers, with a total coverage of 1.5 billion yuan
On November 4, the reporter of the international financial news learned exclusively that several insurance companies had subscribed for ant group’s IPO directors, supervisors and senior liability insurance (hereinafter referred to as “Dong’s liability insurance”). The insurance policy formed a total of four layers of CO insurance with a total amount of 1.5 billion yuan. The policy was officially effective on October 19.
However, some people in the industry believe that the supervision interview of ant group does not constitute the compensation claim covered in the director’s liability insurance policy, so the insurance policy will not be activated for the time being. However, this is a case of significant increase in risk. Whether to cancel the insurance policy or increase the premium is uncertain.
It is understood that on November 2, the four departments jointly interviewed the actual controller and relevant management of ant group; on the evening of November 3, ant group announced that it received the notice of Shanghai Stock Exchange on the same day and suspended its A-share listing plan in Shanghai Stock Exchange. Affected by this, ant’s plan to list H shares on the stock exchange of Hong Kong will also be postponed.