MICT's Insurance Division Signs Contracts Expected to Generate Significant Recurring Monthly Revenues
MICT, Inc. (MICT)
US:NASDAQ Investor Relations:
micronet-enertec.com/ir-events%20&%20presentations.asp
Company Research
Source: PR Newswire
MONTVALE, N.J., Nov. 23, 2020 /PRNewswire/—MICT, Inc. (Nasdaq: MICT) (the Company), today announced that its wholly-owned subsidiary GFH Intermediate Holdings Ltd. (GFHI), through an indirect wholly-owned operating company, signed a number of significant new insurance agency contracts which the Company anticipates to generate significant recurring monthly revenues, potentially up to several millions of dollars per month, beginning early in the first quarter of 2021.Scheduled to launch in December 2020, GFHI's insurance division is led by a highly-decorated management team recruited from a number of China's largest insurance companies. The signing of these significant new contracts within only a few weeks of the division's launch demonstrates its management team's ability and their commitment towards meeting the division's year 1 targets, of more than $250 million of revenue and more than $10 million of gross margins. Such a steep growth trajectory also reflects well in terms of meeti
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