GUANGZHOU, China, November 23, 2021 (GLOBE NEWSWIRE) — Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), the leading independent financial services provider in China, today announced that as of November 23 in 2021, the total regular life insurance business facilitated by Fanhua has exceeded CNY 10 billion from Where Gross Written Premium (“GWP”), i.e. a month before last year.
About Fanhua Inc.
Fanhua is a leading provider of independent financial services. Through our online platforms and offline sales and services network, we offer a variety of financial products and services to individuals, including life, property and casualty insurance products. We also offer insurance claims adjustment services, such as damage assessments, surveys, validations and loss estimates, as well as value-added services, such as emergency roadside assistance.
Our online platforms include: (1) Lan Zhanggui, a comprehensive platform that allows our agents to access and purchase a variety of insurance products, including life insurance, auto insurance, accident insurance, travel insurance and standard health insurance products from multiple insurance companies on their devices portable; (2) Baowang (www.baoxian.com), an online entry portal for comparing and purchasing health, accident, travel and homeowners insurance products and (3) eHuzhu (www.ehuzhu.com), an online non-profit mutual assistance platform In China.
As of September 30, 2021, our distribution and service network consists of 750 sales outlets covering 23 provinces and 110 service outlets covering 31 provinces.
For more information about Fanhua Inc. Please visit http://ir.fanhuaholdings.com/.
This press release contains statements of a forward-looking nature. These statements, including statements regarding the Company’s future financial and operating results, have been made under the “safe harbor” provisions of the US Securities Litigation Reform Act of 1995. You identify these forward-looking statements by terms such as “will,” “expect,” “believe,” “expects”, “intends”, “estimates” and similar statements. Among other things, management’s quotations and business expectations section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and industry Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to implement its own growth strategy, its ability to to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, and the quarterly changes in its operating results caused by factors external to the Its outlook and macroeconomic conditions in China, the future development of the COVID-19 outbreak and its potential impact on insurance product sales. All information in this press release is as of the date of this release, and Fanhua does not undertake to update any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it does not guarantee to you that its expectations will become correct, and investors caution that actual results may differ materially from the expected results. More information regarding the risks and uncertainties that Fanhua faces is included in Fanhua’s filings with the US Securities and Exchange Commission, including its annual report on Form 20-F.
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