Fanhua announces joint ventures with asia insurance

Guangzhou, china, oct. 22, 2023 (globe newswire) -- fanhua inc. (“fanhua” or “the company”) (nasdaq: fanh), a leading independent financial services provider in china, is excited to announce a strategic partnership with asia insurance co., ltd. (“asia insurance”), a wholly-owned subsidiary of asia financial holdings ltd (hkse: 0662). together, the two companies are forming two joint ventures: a life insurance brokerage company and an insurance technology company. fanhua will be the majority shareholder of both joint ventures, with a 60% ownership stake in each. both of the newly established joint ventures will be headquartered in hong kong.
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