Fanhua Ranks 19th Among Best’s Review’s “Top 20 Global Brokers - 2024 Edition”
July 09 2024 - 5:10AM
Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading
independent technology-driven financial services provider in China,
today announced that it has been once again ranked among the Top 20
Global Insurance Brokers, according to the July 2024 edition of
Best’s Review. With total revenues of $450.5 million in 2023,
Fanhua secured the 19th position.
This prestigious list is published by A.M. Best,
a globally renowned insurance rating agency, based on total
revenues in the previous year. Fanhua has been on this list 13
times and remains the only company from the Asia region to make the
list this year.
In 2023, the Company continually strengthened
its strategy of driving growth through “professionalization,
specialization, digitalisation, and open platform”, yielding
significant milestones in 2023. The company's total revenue for
2023 reached US$450.5 million, reflecting a year-over-year growth
of 15.0%; net income attributable to shareholders was US$39.5
million, an impressive growth of 179.7%; and total gross written
premiums for the year amounted to RMB 16.4 billion, representing a
growth of 18.7%, significantly outpacing the industry average.
Mr. Yinan Hu, co-founder, Vice Chairman and
Chief Executive Officer of Fanhua, commented: “We are honored to
once again be included in A.M. Best's Top 20 Global Insurance
Brokers list. In 2023, we continued to advance our strategy of
professionalization, specialization, digitalisation, open platform,
and service orientation. This has allowed us to lead in the digital
era, enhance service quality and efficiency, and achieve stable
growth. This year also marks the beginning of our global and
intelligent strategic upgrade. Through our partnership with Asia
Insurance Co., Ltd. and the establishment of two joint ventures in
Hong Kong, we have embarked on our journey towards global
expansion.”
“Looking ahead, we will remain committed to our
vision of becoming the world's leading intelligent financial
services platform. We will accelerate our overseas market expansion
while advancing our artificial intelligent agent project in
collaboration with Baidu Smart Cloud to drive intelligent
development. Our goal is to create greater value for our customers
and partners. We believe that with continuous innovation and
effort, Fanhua will play an even more significant role in the
global financial services market.”
About Fanhua
Established in Guangzhou in 1998 and listed on
NASDAQ in 2007 (Nasdaq: FANH), Fanhua is a leading independent
financial services provider in China with strong technology
capabilities and a commitment to empowering financial advisors and
fostering sustained value creation for customers.
Our mission revolves around creating an
inclusive and collaborative platform for independent financial
advisors, as well as various insurance/financial sales
organizations, enabling our partners to optimize their practices by
offering them end-to-end business solutions spanning compliance,
technology, products, services, operations, capital flow, and
professional training.
Leveraging advanced technology, artificial
intelligence, and data-driven insights, Fanhua is at the forefront
of revolutionizing financial services delivery, accelerating
digital transformation, and driving industry growth.
With a comprehensive approach to financial
services, we connect millions of Chinese families with various
financial institutions and service providers, offering a diverse
range of opportunities and personalized solutions for insurance
protection, retirement planning, health management, asset
management, and family governance services, covering the full
lifecycle of our customers’ needs.
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
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 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.
For more information, please
contact:
Fanhua Inc.Investor
RelationsTel: +86 (20) 8388-3191Email: ir@fanhgroup.com
Source: Fanhua Inc.
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