Huize to Acquire Nationwide Insurance Agency Senhao to Further Accelerate Online-to-Offline Integration Strategy
December 17 2021 - 4:00AM
Huize Holding Limited, (“Huize”, the “Company”, together with its
subsidiaries, its consolidated variable interest entity and the
subsidiaries of the consolidated variable interest entity the
“Group”) (NASDAQ: HUIZ), a leading digital insurance product and
service platform for new generation consumers in China, today
announced that the Group, through a wholly-owned subsidiary of the
Group’s consolidated variable interest entity, has entered into a
definitive agreement to acquire 100% equity interest in Shanghai
Senhao Insurance Agency Co., Ltd. (“Senhao Insurance Agency”), a
nationwide professional insurance agency company with business
networks in 11 provincial areas in China.
Pursuant to the definitive agreement, the Group
has agreed to acquire 100% equity interest in Senhao Insurance
Agency at a consideration of approximately RMB29.8 million, subject
to adjustment on appraised net asset value as at the valuation
date. The transaction is expected to complete in the first quarter
of 2022, subject to the satisfaction of customary conditions
precedent.
Founded in 2015, Senhao Insurance Agency holds
the license issued by the CBIRC to operate its insurance agency
business nationwide, with a business network of 18 regional sales
and service centers across 11 provincial areas to engage with
insurance clients.
Cunjun Ma, Chairman and Chief Executive Officer
of Huize, commented, “The acquisition of Senhao Insurance Agency
represents another milestone in accelerating the execution of our
online-to-offline integration strategy. We expect the acquisition
of Senhao Insurance Agency to significantly strengthen our offline
presence nationwide and reinforce our differentiated competitive
edge in service capabilities by facilitating seamless online and
offline operations simultaneously, thereby creating value for our
customers with a wider range of insurance products and services
across all scenarios.”
About Huize Holding Limited
Huize Holding Limited is a leading digital
insurance product and service platform for new generation consumers
in China. Targeting the younger generation, Huize is dedicated to
serving its insurance clients for their life-long insurance needs.
Leveraging its online platform, Huize offers a wide variety of
insurance products with a focus on long-term life and health
insurance products, and empowers its insurer partners to reach a
large fragmented client base in the insurance retail market
efficiently and enhance their insurance sales. Huize provides
insurance clients with digitalized insurance experience and
services, including suitable product recommendations, consulting
service, intelligent underwriting and assistance in claim
application and settlement, which significantly improve transaction
experience.
For more information, please visit
http://ir.huize.com.
Investor RelationsHarriet
HuInvestor Relations Director+852 3180 9207investor@huize.com
Media
Relationsmediacenter@huize.com
Christensen
In ChinaMs. Constance ZhangPhone: +86
138-1645-1798E-mail: czhang@christensenir.com
In U.S.Ms. Linda BergkampPhone:
+1-480-614-3004Email: lbergkamp@ChristensenIR.com
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