Welcome to our dedicated page for Huize Holding news (Ticker: HUIZ), a resource for investors and traders seeking the latest updates and insights on Huize Holding stock.
Huize Holding Limited (NASDAQ: HUIZ) is a premier digital insurance product and service platform catering to new-generation consumers in China. The company operates an independent online platform that distributes insurance products underwritten by its partnered insurance companies. These insurer partners rely on Huize to connect with a large clientele through various internet and mobile channels.
Huize offers a digitalized insurance purchasing experience, backed by AI-powered tools and data-driven insights. The platform supports the entire insurance life cycle, from consultation, user engagement, marketing, and risk management to claims services. The company targets mass affluent consumers, providing a comprehensive range of insurance products and one-stop services that streamline the transaction process.
Recent achievements include the launch of products like “Darwin Critical Care No.9” and “i Wu You – Low-Threshold Edition,” which are designed to provide extensive coverage and flexible options for customers with various health conditions. The company also recently announced its participation in the 14th Annual LD Micro Invitational, reflecting its active engagement in the financial community.
Financially, Huize generates revenue from the brokerage fees paid by its insurer partners. The company's strong focus on leveraging technology and data analytics has positioned it as a leader in the insurance technology sector in China. Partnerships with prominent insurance carriers further bolster its market position, enabling it to offer innovative and customer-centric products.
For the latest updates and more information, please visit Huize’s Investor Relations page.
Huize Holding Limited (NASDAQ: HUIZ) reported robust financial results for the fourth quarter and full year ended December 31, 2021. Gross Written Premiums (GWP) increased by 90.2% in Q4 2021 to RMB1,990.9 million, and by 66.2% year-over-year to RMB5,018.2 million for the full year. Operating revenue in Q4 surged 151.6% to RMB976.3 million, and 84.0% for the year at RMB2,245.0 million. Despite these gains, net loss for 2021 was RMB107.7 million. The company also announced a share repurchase program of up to US$5 million.
Huize Holding Limited (NASDAQ: HUIZ) announced plans to release its fourth quarter and full year 2021 financial results on March 18, 2022, before market opening. The Company will host a conference call at 8:00 A.M. Eastern Time on the same day to discuss the results. Registration is required to participate, with a link provided. Huize focuses on digital insurance services for the younger generation in China, offering tailored life and health insurance products through its platform, enhancing client experience with intelligent solutions.
Huize Holding Limited (NASDAQ: HUIZ) has released its 2021 'Xiao Ma Claim' Service Annual Review, highlighting its impressive performance in claims assistance. The company handled a total of 43,000 claims, with a settlement amount of RMB570 million—up 135% year-over-year. Notably, the 'Flash Claim' program allowed for settlements within 1 working day for many cases. Key trends revealed that critical illness claims were prevalent among women aged 31-40, while children aged 0-6 dominated medical claims. The CEO stressed ongoing improvements in technology and customer service to enhance user experience.
Huize Holding Limited (NASDAQ: HUIZ) has announced the termination of its planned acquisition of a controlling stake in Hubei Shengs Life & General Insurance Agency Co., Ltd. due to delays in closing. The termination will take effect on January 28, 2022, and the company will incur no termination fees as a result. The acquisition was initially agreed upon on September 24, 2021, through a subsidiary of Huize. The company, a digital insurance platform in China, focuses on providing long-term life and health insurance products to younger consumers.
Huize Holding Limited (NASDAQ: HUIZ) announced a partnership with Guofu Life Insurance to launch the "Darwin Critical Care No. 6" insurance product. The plan offers coverage for 110 critical illnesses, 25 moderate illnesses, and 50 mild illnesses. Key features include reinstatement benefits after the first claim and optional benefits for severe malignant tumors. CEO Cunjun Ma emphasized the product's flexibility to meet increasing demand for critical illness coverage among younger consumers. Guofu Life, founded in 2018, holds strong solvency ratios and a Class B risk rating.
Huize Holding Limited (NASDAQ: HUIZ) announced an acquisition of 100% equity interest in Shanghai Senhao Insurance Agency for approximately RMB29.8 million. This acquisition aims to enhance Huize's offline presence and integrate online and offline services, benefiting customers with a broader range of insurance products. Senhao, founded in 2015, operates across 11 provincial areas in China and holds a license from the CBIRC. The transaction is anticipated to complete in Q1 2022, pending customary conditions.
Huize Holding Limited (NASDAQ: HUIZ) announced its unaudited financial results for Q3 2021, reporting a 24.0% increase in Gross Written Premiums (GWP) to RMB965.5 million (US$149.8 million) and a 42.7% rise in First-Year Premiums (FYP) year-over-year. However, operating revenue fell by 9.6% to RMB315.1 million (US$48.9 million). The company recorded a net loss of RMB78.9 million (US$12.2 million), contrasting with a net profit of RMB14.7 million in the same quarter of 2020. Looking ahead, Huize expects 2021 revenue between RMB1.9 billion and RMB2.0 billion, reflecting a 56% to 64% increase year-over-year.
Huize Holding Limited (NASDAQ: HUIZ) announced it will release its Q3 2021 financial results on December 1, 2021, prior to the market opening. Management will host a conference call on the same day at 7:00 A.M. ET to discuss the results. Interested participants must register in advance through the provided link. A replay will be available until December 8, 2021. The company is a prominent digital insurance platform in China, catering to the younger generation's long-term life and health insurance needs.
Huize Holding Limited (NASDAQ: HUIZ) announced a partnership with Huagui Life Insurance to launch a new term life insurance product, “Da Mai Ding Hai Zhu”, aimed at younger consumers in China. This product features basic coverage of up to RMB3 million and additional benefits for major accidents and natural disasters. It also offers care benefits of up to RMB1.5 million for parents and enhanced flexibility for those with pre-existing conditions. Huize aims to address the growing mortality protection gap among youth, leveraging its digital platform to enhance customer experience.
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