CNinsure Inc., a China-based insurance broker, will now be known as “Fanhua Inc.” Shareholders voted to change the name during a Dec. 6 meeting. Alongside the name change, the Nasdaq ticker symbol will be changed from “CISG” to FANH,” the company said.
Board Chairman Yinan Hu said the name change stems from Fanhua’s increasing diversification into a broader array of financial services.
“The company’s business has become increasingly diversified and currently provides a wide range of financial services in addition to traditional business services,” Hu said in prepared remarks. “We believe the change of the company’s name and ticker symbol will more appropriately reflect our business direction.”
The company offers financial products and services to individuals and business, including property/casualty and life insurance products. There are also claims adjusting services and products such as emergency vehicle roadside assistance. Fanhua’s products include an online entry portal to compare and purchase various insurance products, another product that offers mobile sales support and a non-profit online mutual aid platform based in China.
Source: Fanhua Inc.