TIRX Stock: Why It Increased

By Amit Chowdhry ● Oct 14, 2021
  • The stock price of Tian Ruixiang Holdings Ltd (NASDAQ: TIRX) increased by 7.69% yesterday. This is why it happened.

The stock price of China-based insurance broker Tian Ruixiang Holdings Ltd (NASDAQ: TIRX) increased by 7.69% yesterday. Investors are responding positively to Tian Ruixiang announcing that it has generated a total of RMB3.3 million (approximately US$0.5 million) in school campus liability insurance premium. And school campus liability insurance helps protect the legitimate rights and interests of students and schools, as well as maintaining normal school operations.

In August 2021, the company expanded its liability insurance business into the eduction sector and started providing school campus liability insurance by entering into an insurance brokerage agreement with People’s Insurance company of China Changsha Branch. As of October 2021, Tian Ruixiang generated a total of RMB3.3 million (approximately US$0.5 million) in school campus liability insurance premium from 38 education institutions, including Ningxiang City No. 1 High School, Ningxiang City No. 2 High School, and Ningxiang City Vocational Technical School.

KEY QUOTE:

“Since the beginning of this school season, our school campus liability insurance business has grown tremendously. Looking forward, we will continue to expand our core insurance brokerage business and provide school campus liability insurance to more education institutions across China.”

— Zhe Wang, Chairman of the board of the directors and Chief Executive Officer of the company

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.