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BRIEF-Fanhua announces spin-off of its P&C insurance subsidiaries
October 27, 2017 / 8:59 PM / 22 days ago

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

Oct 27 (Reuters) - Fanhua Inc

* 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: Further company coverage:

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