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Fanhua to acquire 51% stake in Chinese insurance agency

Posted On: Feb. 7, 2023 9:59 AM CST


China-based financial company Fanhua Inc. has signed a definitive agreement to acquire a 51% equity interest in China's Jilin Zhongji Shi'An Insurance Agency Co., Ltd., Asia Insurance Review reported. Jilin Zhongji, based in the Jilin province, is expected to generate gross written premium of approximately 208 million Chinese yuan ($30.6 million) and net income of CNY15 million in 2025.