Fanhua Ranks 19th Among Best's Review's "Top 20 Global Brokers - 2024 Edition"

Core Insights - Fanhua Inc. has been ranked 19th among the Top 20 Global Insurance Brokers by A.M. Best, with total revenues of $450.5 million in 2023, marking its 13th appearance on this list and the only company from the Asia region to be included this year [1][2]. Financial Performance - Total revenue for 2023 reached$450.5 million, reflecting a year-over-year growth of 15.0% [2]. - Net income attributable to shareholders was $39.5 million, showing an impressive growth of 179.7% [2]. - Total gross written premiums amounted to RMB 16.4 billion, representing a growth of 18.7%, significantly outpacing the industry average [2]. Strategic Initiatives - The company has focused on a strategy of "professionalization, specialization, digitalisation, and open platform," which has led to significant milestones in 2023 [2][3]. - Fanhua is embarking on a global expansion strategy, including partnerships with Asia Insurance Co., Ltd. and the establishment of two joint ventures in Hong Kong [3]. - The company aims to enhance its overseas market presence and advance its artificial intelligence initiatives in collaboration with Baidu Smart Cloud [3]. Company Overview - Established in 1998 and listed on NASDAQ in 2007, Fanhua is a leading independent financial services provider in China, emphasizing technology and empowering financial advisors [4]. - The company connects millions of Chinese families with various financial institutions, offering a wide range of services including insurance protection, retirement planning, and asset management [5].