Fanhua launches personalized whole life and annuity insurance with Sinatay

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GUANGZHOU, China, November 28, 2021 (GLOBE NEWSLETTER) – Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), a leading independent financial services provider in the China, today announced its partnership with Sinatay Life Insurance Co., Ltd (“Sinatay”) to launch two personalized products, including “Fanhua-Sinatay Legacy”, a whole life insurance plan and “Fanhua-Sinatay Yixiang”, an annuity insurance plan.

Fanhua-Sinatay Legacy Whole Life Insurance Plan not only provides lifetime protection, but also enables policyholders to enjoy stable returns suitable for various financial goals including children’s education funds, retirement savings , investments or financial inheritance management, with a guaranteed rate of return of 3.5% on the cash surrender value and the option for policyholders to request a policy loan, adjust premiums or place policies in insurance trusts.

Fanhua-Sinatay Yixiang is a retirement annuity designed to help protect against inflation and ensure a stable annuity income stream for life. This plan, among others, offers the benefits of a high cash value, short payback periods, an internal rate of return of up to 3.965% and a guaranteed monthly annuity payment for 25 years, meeting to the multiple needs of medium / high net worth individuals. .

Sir. Chunlin wang, Chairman and CEO of Fanhua, said, “With China’s aging population, falling interest rates and an overwhelmed social security and pension system, these two products are personalized by Fanhua Accurately meet the needs of middle and high net worth individuals for wealth accumulation and lifetime retirement benefits. This is another major advance of Fanhua by tapping into the savings insurance segment and echoes our commitment to continue to innovate our ideas and products to better meet the evolving needs of the market.

On Sinatay Life Insurance

Sinatay Life Insurance Co., Ltd., founded in 2007, has a share capital of 5 billion RMB. At the end of 2020, its total assets stood at over 100 billion RMB, the total premiums of 50 billion RMB, and the number of customers more than 4.3 million. In the second quarter of 2021, its core and overall solvency ratios were both 155.24%, an increase of 23.23 percentage points from the same period in 2020.

On Fanhua Inc.

Fanhua Inc. is one of the leading independent providers of financial services. Through our online platforms and our offline sales and service network, we offer a wide variety of personal financial products and services, including life and property and casualty insurance products. We also provide insurance claim resolution services, such as damage assessments, investigations, authentications and loss estimates, as well as value-added services, such as emergency vehicle roadside assistance. .

Our online platforms include: (1) Lan Zhanggui, an all-in-one platform that allows our agents to access and purchase a wide variety of insurance products, including insurance- life, auto insurance, accident insurance, travel insurance and standard health insurance products. multiple insurance companies on their mobile devices; (2) Baowang (www.baoxian.com), an online entry portal to compare and purchase health, accident, travel and home insurance products and (3) eHuzhu (www.ehuzhu.com), a non-profit online support platform in China.

From September 30, 2021, our distribution and service network is made up of 750 points of sale covering 23 provinces and 110 points of service covering 31 provinces.

For more information on Fanhua Inc., please visit http://ir.fanhuaholdings.com/.

Forward-looking statements

This press release contains forward-looking statements. These statements, including statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the we Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words such as “will”, “expects”, “believes”, “anticipates”, “intends”, “believes” and similar statements. Among other things, management quotes 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 regarding Fanhua and industry. Potential risks and uncertainties include, but are not limited to, those related to its ability to attract and retain productive agents, in particular entrepreneurial agents, its ability to maintain and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the changing regulatory environment in the Chinese insurance sector, its ability to compete effectively with its competitors, the quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China, the future course of the COVID-19 epidemic and their potential impact on sales of insurance products. All information provided in this press release is as of the date hereof, and Fanhua makes no commitment to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Even if Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will prove to be correct, and investors are cautioned that actual results may differ materially from anticipated results. Further information on the risks and uncertainties facing Fanhua is included in Fanhua deposits with United States Securities Commission, including its annual report on Form 20-F.


CONTACT: Investor Relations

Tel: (8620) 83883191

Email: [email protected]

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Source: Fanhua Inc.


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