GUANGZHOU, China, Nov. 24, 2021 (GLOBE NEWSWIRE) — Fanhua Inc. (“Fanhua” or “the Firm”) (Nasdaq: FANH), a number one impartial monetary providers supplier in China, right now introduced that it has partnered with Aviva-COFCO Life Insurance coverage Co., Ltd (“Aviva-COFCO”) to launch “Huaying Guardian No.1”, an modern, custom-made vital sickness (“CI”) plan.

Huaying Guardian No.1 presents twofold safety with each a lump sum payout of vital sickness advantages and protection for CI-related medical remedy. As well as, in the course of the fee interval, the insured quantity will improve by 5% each year, successfully guarding in opposition to inflation threat. The plan is reported to be first of its variety in China’s life insurance coverage {industry}.

Mr. Chunlin Wang, chairman and chief govt officer of Fanhua, acknowledged, “As a number one insurance coverage middleman firm within the {industry}, Fanhua is devoted to advancing customer-centered product and repair innovation. The brand new product collectively launched by Fanhua and Aviva-COFCO marks an extra step ahead for Fanhua following the upgrading of our product technique. As one of many few vital sickness merchandise presently accessible in China’s life insurance coverage market that includes incremental insurance coverage protection, Huaying Guardian No.1 presents distinctive worth to clients, absolutely demonstrating our continued dedication to product innovation to assist a broader buyer base to handle their medical remedy prices.”

About Aviva-COFCO Life Insurance coverage

Aviva-COFCO Life Insurance coverage, based in 2003, is a three way partnership between Aviva Group and COFCO Capital Funding Co., Ltd. Its market attain has expanded to 16 provinces and greater than 80 key cities in China. It has an industry-leading complete threat administration system, with a complete solvency ratio of 252%. As of the second quarter of 2021, Aviva-cofco Life Insurance coverage has been awarded Class A of China’s complete threat score for 20 consecutive quarters.

About Fanhua Inc.

Fanhua Inc. is a number one impartial monetary providers supplier. By means of our on-line platforms and offline gross sales and repair community, we provide all kinds of monetary services and products to people, together with life and property and casualty insurance coverage merchandise. We additionally present insurance coverage claims adjusting providers, resembling harm assessments, surveys, authentications and loss estimations, in addition to value-added providers, resembling emergency car roadside help.

Our on-line platforms embody: (1) Lan Zhanggui, an all-in-one platform which permits our brokers to entry and buy all kinds of insurance coverage merchandise, together with life insurance coverage, auto insurance coverage, accident insurance coverage, journey insurance coverage and normal medical insurance merchandise from a number of insurance coverage corporations on their cell gadgets; (2) Baowang (www.baoxian.com), a web based entry portal for evaluating and buying well being, accident, journey and home-owner insurance coverage merchandise and (3) eHuzhu (www.ehuzhu.com), a non-profit on-line mutual help platform in China.

As of September 30, 2021, our distribution and repair community is consisted of 750 gross sales retailers masking 23 provinces and 110 service retailers masking 31 provinces.

For extra details about Fanhua Inc., please go to http://ir.fanhuaholdings.com/.

Ahead-looking Statements

This press launch incorporates statements of a forward-looking nature. These statements, together with the statements regarding the Firm’s future monetary and working outcomes, are made beneath the “secure harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. You possibly can establish these forward-looking statements by terminology resembling “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and comparable statements. Amongst different issues, administration’s quotations and the Enterprise Outlook part comprise forward-looking statements. These forward-looking statements contain identified and unknown dangers and uncertainties and are based mostly on present expectations, assumptions, estimates and projections about Fanhua and the {industry}. Potential dangers and uncertainties embody, however usually are not restricted to, these regarding its skill to draw and retain productive brokers, particularly entrepreneurial brokers, its skill to keep up current and develop new enterprise relationships with insurance coverage corporations, its skill to execute its progress technique, its skill to adapt to the evolving regulatory setting within the Chinese language insurance coverage {industry}, its skill to compete successfully in opposition to its rivals, quarterly variations in its working outcomes attributable to components past its management and macroeconomic situations in China, future improvement of COVID-19 outbreak and their potential affect on the gross sales of insurance coverage merchandise. All data offered on this press launch is as of the date hereof, and Fanhua undertakes no obligation to replace any forward-looking statements to mirror subsequent occurring occasions or circumstances, or modifications in its expectations, besides as could also be required by legislation. Though Fanhua believes that the expectations expressed in these forward-looking statements are cheap, it can not guarantee you that its expectations will become appropriate, and buyers are cautioned that precise outcomes might differ materially from the anticipated outcomes. Additional data concerning dangers and uncertainties confronted by Fanhua is included in Fanhua’s filings with the U.S. Securities and Trade Fee, together with its annual report on Kind 20-F.

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