Huize Expands Globally with Acquisition of Vietnam's Global Care, Financial Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Huize Holding Limited (NASDAQ:HUIZ) has acquired Vietnam's Global Care, marking its first step in global expansion through its new international brand Poni Insurtech. The acquisition aims to replicate Huize's successful digital insurance model in the ASEAN region, starting with Vietnam. Financial terms were not disclosed.
June 20, 2024 | 10:50 am
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Huize Holding Limited (NASDAQ:HUIZ) has acquired Global Care, a leading insurtech company in Vietnam, marking its first step in global expansion through its new international brand Poni Insurtech. The acquisition aims to replicate Huize's successful digital insurance model in the ASEAN region, starting with Vietnam. Financial terms were not disclosed.
The acquisition of Global Care by Huize is a significant step in its global expansion strategy. This move is likely to positively impact Huize's stock price in the short term as it opens up new market opportunities in the ASEAN region, which has similar market dynamics to China. The consolidation of Global Care's financial results into Huize's statements is also expected to boost revenues.
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