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Pandemic hurts Chinese insurance brokerages

Posted On: Jul. 3, 2020 8:16 AM CST

Chinese insurance intermediaries have reported a significant decline in their financial results in the first quarter due to the COVID-19 pandemic, Asia Insurance Review reports. Fanhua Inc.'s revenue went down 26% year-on-year to 723 million Chinese yuan ($102 million), while Datong Insurance Brokers' offline business fell by nearly 50%.

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