Fanhua Announces Framework Agreement for Strategic Cooperation with Ping An Health
December 14 2018 - 5:29AM
Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), a leading
independent financial services provider in China, today announced
that Fanhua Insurance Sales Service Group Company Ltd., a wholly
owned subsidiary of the Company, has signed a framework agreement
for strategic cooperation with Ping An Health Insurance Company of
China, Ltd. (“Ping An Health”) on December 14, 2018.
Pursuant to the agreement, both parties intend
to deepen cooperation with each other on customization and
distribution of medical insurance products while exploring
opportunities to collaborate on a wider spectrum of health care
insurance products and services, by leveraging on each other’s
strengths, including Ping An Health’s diversified health care
insurance product offerings and Fanhua’s extensive distribution
network, in order to provide personalized and high quality products
and services to broader groups of individuals and families in
China. Zheng Yang, chairman and chief executive officer of Ping An
Health and Chunlin Wang, chairman and chief executive officer of
the Company were present at the agreement signing ceremony.
About Ping An Health Ping An
Health Insurance Company of China, Ltd., established in 2005, is a
wholly-owned subsidiary of Ping An Insurance Group of China, Ltd.
It has become one of the leading health insurance companies in
China. It covers a large scope of health insurance services,
including medical insurance, accident insurance, health insurance
management, and health consultation services amongst others.
About Fanhua Inc.
Fanhua Inc. is a leading independent
online-to-offline financial services provider. Through our online
platforms and offline sales and service network, we offer a wide
variety of financial products and services to individuals and
businesses, including property and casualty and life insurance
products. We also provide insurance claims adjusting services, such
as damage assessments, surveys, authentications and loss
estimations, as well as value-added services, such as emergency
vehicle roadside assistance. Our online platforms include: (1) Lan
Zhanggui, an all-in-one platform which allows our agents to access
and purchase a wide variety of insurance products, including life
insurance, auto insurance, accident insurance, travel insurance and
standard health insurance products from multiple insurance
companies on their mobile devices; (2) CNpad, a mobile sales
support application; (3) Baoxian.com, an online entry portal for
comparing and purchasing health, accident, travel and homeowner
insurance products; and (4) eHuzhu (www.ehuzhu.com), a non-profit
online mutual aid platform in China. As of September 30, 2018, our
distribution and service network is consisted of 754 sales and
service outlets covering 31 provinces.For more information about
Fanhua Inc., please visit http://ir.fanhuaholdings.com/.
Forward-looking Statements
This press release contains statements of a
forward-looking nature. These statements, including the statements
relating to the Company's future financial and operating results,
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will,"
"expects," "believes," "anticipates," "intends," "estimates" and
similar statements. Among other things, management's quotations and
the Business Outlook 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
the industry. Potential risks and uncertainties include, but are
not limited to, Fanhua’s ability to attract and retain key
personnel and productive agents, its ability to maintain existing
and develop new business relationships with insurance companies,
its ability to execute its growth strategy, its ability to adapt to
the evolving regulatory environment in the Chinese insurance
industry, its ability to compete effectively against its
competitors, quarterly variations in its operating results caused
by factors beyond its control and macroeconomic conditions
in China and their potential impact on the sales of
insurance products. All information provided in this press release
is as of the date hereof, and Fanhua undertakes no
obligation to update any forward-looking statements to reflect
subsequent occurring 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 cannot
assure you that its expectations will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results. Further information regarding risks
and uncertainties faced by Fanhua is included
in Fanhua's filings with the U.S. Securities and
Exchange Commission, including its annual report on Form 20-F.
For more information about Fanhua Inc., please
visit http://ir.fanhuaholdings.com/.
CONTACT: Oasis Qiu
Investor Relations Manager
Tel: (8620) 83883191
Email: qiusr@fanhuaholdings.com
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