BEIJING, Feb. 9, 2018 /PRNewswire/ -- Yirendai Ltd. (NYSE:
YRD) ("Yirendai" or the "Company"), a leading fintech company
in China, announced today that it has entered into a three
year business agreement (the "Agreement") with PICC Property and
Casualty Company Limited ("PICC P&C").
Under the terms of the Agreement, PICC P&C will provide
surety insurance for loans, with maximum term of 12 months
and maximum contract amount of RMB
200,000 ( USD 31,000
approximately) which are facilitated through Yirendai's online
marketplace. PICC P&C will charge borrowers an insurance
premium and will reimburse lenders their principal and expected
interest in the event of loan defaults within the agreed scope of
the Agreement.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond Yirendai's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, uncertainties as to
Yirendai's ability to attract and retain borrowers and investors on
its marketplace, its ability to introduce new loan products and
platform enhancements, its ability to compete effectively, PRC
regulations and policies relating to the peer-to-peer lending
service industry in China, general
economic conditions in China, and
Yirendai's ability to meet the standards necessary to maintain
listing of its ADSs on the NYSE or other stock exchange, including
its ability to cure any non-compliance with the NYSE's continued
listing criteria. Further information regarding these and other
risks, uncertainties or factors is included in Yirendai's filings
with the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and Yirendai does not undertake any obligation to update
any forward-looking statement as a result of new information,
future events or otherwise, except as required under applicable
law.
About Yirendai
Yirendai Ltd. (NYSE: YRD) is a leading fintech company
in China connecting investors and individual borrowers.
The Company provides an effective solution to address largely
underserved investor and individual borrower demand
in China through an online platform that automates key
aspects of its operations to efficiently match borrowers with
investors and execute loan transactions. Yirendai deploys a
proprietary risk management system, which enables the Company to
effectively assess the creditworthiness of borrowers, appropriately
price the risks associated with borrowers, and offer quality loan
investment opportunities to investors. Yirendai's online
marketplace provides borrowers with quick and convenient access to
consumer credit at competitive prices and investors with easy and
quick access to an alternative asset class with attractive returns.
For more information, please visit ir.yirendai.com.
About PICC P&C
PICC Property and Casualty Company Limited ("PICC P&C"), a
property and casualty insurance company in Mainland China, was
established in July 2003 with PICC
Group as its sole promoter. The Company was successfully listed on
the Main Board of the Hong Kong Stock Exchange on 6 November 2003 (Stock Code: 2328 HK). The
Company's principal business are motor vehicle insurance,
commercial property insurance, homeowners insurance, cargo
insurance, liability insurance, accidental injury insurance,
short-term health insurance, marine hull insurance, agriculture
insurance, credit & surety insurance etc, and the related
reinsurance business as well as investments permitted under the
relevant laws and regulations of the PRC.
For investor and media inquiries, please
contact:
Yirendai
Hui (Matthew)
Li
Director of Investor Relations
Email: ir@yirendai.com
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SOURCE Yirendai Ltd.