Good News on Listing | Frost & Sullivan Assists Handui Group Co., Ltd. to Successfully List in Hong Kong (2621.HK)

Handui Group Co., Ltd. (hereinafter referred to as 'Handui') successfully went public on May 30, 2025, issuing a total of 2,435.8 million shares, raising a maximum of HK$197 million.

During the process of listing on the Hong Kong Stock Exchange, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the writing of relevant parts of the prospectus (such as overview, competitive advantages and strategy, industry overview, business, and other important chapters), assisting the issuer in communicating with the Hong Kong Stock Exchange and investors, helping investors quickly understand the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Hong Kong Stock Exchange.

• The company is a leading provider of personal insurance intermediary services;

   

• The company is a leading online insurance intermediary in China;

   

• The company drives innovation to optimize user experience;

   

• The company has an experienced management team that combines technical expertise with insurance knowledge.

According to a report by Frost & Sullivan,

• Based on the total premium of the Chinese life insurance intermediary market in 2023, the company is the eighth largest provider of life insurance intermediary services in China;

   

• Based on the total premium of long-term life insurance in China in 2023, the company is the second-largest online insurance intermediary in China;

   

• Based on the premium income of China's long-term life insurance in 2023, the company is the second-largest online insurance intermediary in China;

   

• Online intermediaries dominate the Chinese life insurance intermediary market, accounting for 82.1% of the total premiums in 2019 and increasing to 89.1% in 2023, with an expected 95.2% by 2028;

   

• In terms of China's online personal insurance intermediary market, the total premium for long-term insurance has increased from RMB 12 billion in 2019 to RMB 88 billion in 2023, with a compound annual growth rate of 64.6%. It is estimated that by 2028, the total premium for long-term online personal insurance will reach RMB 627 billion, with a compound annual growth rate from 2023 to 2028 of 48.1%. In China's online personal insurance intermediary market, the market share for long-term insurance has increased from 20.8% in 2019 to 41.7% in 2023, and is expected to reach 60.8% by 2028.

In terms of total premiums, the market size of personal insurance in China increased from RMB 3.1 trillion in 2019 to RMB 3.8 trillion in 2023, with a compound annual growth rate of 5.0%. It is estimated that by 2028, the market size of personal insurance in China will reach RMB 5.6 trillion in terms of total premiums, with a compound annual growth rate of 8.3% from 2023 to 2028.

In recent years, the online sales channels of China's personal insurance market have seen significant growth due to the widespread adoption of digital platforms and the convenience they provide. In terms of total premiums, the online personal insurance market size in China increased from RMB 186 billion in 2019 to RMB 550 billion in 2023, with a compound annual growth rate of 31.1%. It is estimated that by 2028, the online personal insurance market size in China (in terms of total premiums) will reach RMB 2015 billion, with a compound annual growth rate from 2023 to 2028 of 29.7%. In 2019, online personal insurance accounted for 6.0% of the Chinese personal insurance market, which increased to 4.6% in 2023 and is expected to reach 35.9% by 2028.

In 2023, the total premium of the Chinese life insurance intermediary market reached RMB 237 billion, with a compound annual growth rate of 34.2% from 2019 to 2023. Intermediaries accounted for 2.4% of the total premium of the Chinese life insurance market in 2019, which increased to 6.3% in 2023. It is estimated that intermediaries will contribute RMB 1,083 billion to the total premium of the Chinese life insurance market by 2028, with a compound annual growth rate of 35.5% from 2023 to 2028.

Online intermediaries have achieved significant growth in the Chinese life insurance market. The total premiums contributed by online intermediaries increased from RMB 60 billion in 2019 to RMB 211 billion in 2023, with a compound annual growth rate of 36.9%. It is estimated that by 2028, online intermediaries will contribute RMB 1,031 billion to the Chinese life insurance market, with a compound annual growth rate from 2023 to 2028 of 37.3%. Online intermediaries hold a dominant position in the Chinese life insurance intermediary market, accounting for 82.1% of the total premiums in 2019 and increasing to 89.1% in 2023, and are expected to reach 5.2% by 2028.

Insurance can be classified into long-term insurance and short-term insurance based on the policy term. Long-term insurance refers to insurance products with a policy term exceeding one year. Short-term insurance refers to insurance products with a policy term of less than or equal to one year. Long-term insurance aims to cover long-term protection needs, while short-term insurance is designed to cover immediate risks and losses. In China's online life insurance intermediary market, the total premium of long-term insurance has increased from RMB 12 billion in 2019 to RMB 88 billion in 2023, with a compound annual growth rate of 64.6%. It is expected that by 2028, the total premium of long-term online life insurance will reach RMB 627 billion, with a compound annual growth rate of 48.1% from 2023 to 2028. In China's online life insurance intermediary market, the market share of long-term insurance has increased from 20.8% in 2019 to 41.7% in 2023, and is expected to reach 60.8% by 2028.

In 2023, based on total premiums and premium income for the first year, the company ranked as the second-largest online long-term life insurance intermediary in China.