Brief: Fanhua announces spin-off of its P&C insurance subsidiaries

AIFU

27/10/2017 21:30

Oct 27 (Reuters) - Fanhua Inc  FANH.O  
    * Fanhua announces spin-off of its P&C insurance 
subsidiaries 
    * Fanhua - to sell equity interests in Fanhua Times Sales & 
Service and its P&C insurance units for total consideration of 
about RMB222 million 
    * Fanhua Inc- starting Oct. 1, co will no longer charge 
insurance companies commissions, pay commissions to sales agents 
for P&C insurance business 
    * Fanhua Inc - impact on its operating profit and net 
profit should be limited from deal 
    * Fanhua-Due to transition, expects substantial decline in 
total revenues and commission costs, while gross margin is 
expected to improve significantly 
    * Fanhua - to sell equity interests in fanhua times sales & 
service and its P&C insurance units to Beijing Cheche 
Technology 
 
Source text for Eikon:  ID:nGNXOGKIPa  
Further company coverage:  FANH.O  
 
 ((bangalore.newsroom@thomsonreuters.com;))