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WDH - Online Insurers Enter Cost-Cutting Competition In Evolving Chinese Market
Waterdrop Inc. American Depositary Shares (each representing the right to receive 10 Class A)
Waterdrop and ZhongAn boast stronger valuations than rival Fanhua after more successful cost-reduction efforts last year.
Waterdrop reported a significantly narrower net loss in last year’s fourth quarter thanks to aggressive cost cutting.
ZhongAn made its first-ever annual profit from insurance underwriting last year and more than doubled its profit after reducing operating expenses as a proportion of revenue.
Fanhua lagged the other two in cost reductions and reported a modest gain in fourth-quarter operating profit.