- 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.
For further details see:
Online Insurers Enter Cost-Cutting Competition In Evolving Chinese market