Waterdrop stalls in second quarter, but reaffirms annual growth forecast
The online insurance broker’s revenue fell slightly in the latest three-month period, as its core insurance business fell by 4% Key Takeaways: Waterdrop’s revenue fell 0.4% in the second quarter,…
Fanhua seeks support in share buyback as global expansion stalls
The insurance broker will double the size of an ongoing share buyback program, now equal to nearly half of its market value, as its share price tanks Key Takeaways: Fanhua’s…
Weak China car market puts brakes on Cheche’s growth
The Tencent-backed auto insurance platform’s revenue was flat in the first quarter, underscoring challenges for companies across China’s auto ecosystem Key Takeaways: Cheche’s net revenue rose 1% year-on-year in the…
ZhongAn may be betting on property rebound with Shanghai office buys
The online insurer has agreed to purchase two office buildings in Shanghai’s iconic Bund area amid signs that China’s commercial property market may have hit bottom Key Takeaways: ZhongAn has…
Juicy margins set Zhongmiao apart among stodgy insurers
The insurance broker controlled by home-appliance maker Haier has filed for an IPO, boasting solid profits underpinned by its focus on corporate policies and a light cost structure Key Takeaways:…
NEWS WRAP: Fanhua details plan to go global, expand into high-tech healthcare
The Chinese insurance broker said it will use $500 million from a Singaporean investor to move beyond its home market through two medical-related acquisitions By Teri Yu Fanhua Inc.…
ZhongAn weathers feeble economy with business from online shoppers, travelers
The digital insurer posted solid gross written premium growth for January and all of 2023, likely on the back of its popular insurance products for online shoppers and travelers Key…
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