Fanhua Welcomes Ben Lin as Co-Chairman of the Board and Chief Strategy Officer
July 02 2023 - 7:30PM
Fanhua Inc. (“Fanhua” or the “Company”) (Nasdaq: FANH), a leading
independent financial services provider in China, today announced
the appointment of Mr. Ben Lin as the Company’s Co-Chairman of the
board of directors (the “Board”) and Chief Strategy Officer.
Mr. Lin is a trained actuary with over 18 years
of experience in the financial services industry. He has
consistently demonstrated exceptional leadership skills and a
proven track record of success. Mr. Lin will play a crucial role in
setting Fanhua’s strategic direction, driving the Company’s
overseas expansion, and facilitating its success in capital
markets.
Prior to joining Fanhua, Mr. Lin held prominent
positions in several renowned organizations throughout his career
and possesses extensive knowledge of the global insurance industry.
He worked at Capital Group as an investment analyst covering Asia
insurance and industrials from 2016 to 2023. Prior to that, he
served as a managing director at Morgan Stanley, where he was
responsible for overseeing the China Internet and Asia Insurance
industries. Mr. Lin graduated from Macquarie University, Sydney
with a Master of Commerce degree and a Bachelor of Commerce degree
majoring in Actuary Studies. His deep understanding of the industry
and emerging trends will be invaluable to Fanhua as the Company
continues to evolve and is committed to fulfilling its strategic
vision of becoming a prominent independent financial advisory
company in Asia.
Mr. Lin will work closely with Mr. Yinan Hu, the
Company’s Co-Chairman of the Board and Chief Executive Officer.
Together, they will lead the Board in setting strategic priorities,
overseeing corporate governance, and ensuring the Company’s
long-term success.
“We are excited to welcome Ben to the Board and
the executive team,” said Mr. Yinan Hu. “Ben is an old friend of
Fanhua, having accompanied us for over 15 years in his prior role
as the leading insurance analyst in the region. We believe Ben’s
joining will contribute valuable insights, further strengthen our
corporate governance, and help us achieve our well-defined
strategies and deliver sustainable results to our
shareholders.”
Mr. Lin expressed excitement about joining
Fanhua and shared his vision for the role, “I’m thrilled to join
Fanhua as the Co-Chairman of the Board and Chief Strategy Officer.
I have been following the Asia insurance industry since 2007 and
have always admired Fanhua. Over the past 25 years, the Company has
demonstrated a strong track record of navigating China’s economic
and industry cycles. I strongly believe that the growth opportunity
in the financial intermediary industry in Asia remains immense. I
look forward to working with our Board and management team to
ensure that Fanhua is well positioned to capture the growth
opportunities across the region and drive sustainable value
creation for all our shareholders.”
About Fanhua Inc.
Driven by its digital technologies and
professional expertise in the insurance industry, Fanhua Inc. is a
leading independent financial service provider in China, focusing
on providing insurance-oriented family asset allocation services
that covers customers’ full lifecycle and a one-stop service
platform for individual sales agents and independent insurance
intermediaries.
With a strategic focus on long-term life
insurance products, Fanhua offers a broad range of insurance
products, claims adjusting services and various value-added
services to meet customers’ diverse needs, through an extensive
network of digitally empowered sales agents and professional claims
adjustors. It also operates Baowang (www.baoxian.com), an online
insurance platform that provides customers with a one-stop
insurance shopping experience.
As of March 31, 2023, our distribution and
service network consisted of 631 sales outlets covering 24
provinces, autonomous regions and centrally-administered
municipalities and 92 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, 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 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, future development of COVID-19 outbreak and
their potential impact on the sales of insurance products. Except
as otherwise indicated, all information provided in this press
release speaks 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.
Source: Fanhua Inc.
For more information, please contact:
Investor Relations
Tel: +86 (20) 8388-3191
Email: qiusr@Fanhuaholdings.com
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