GUANGZHOU, China, April 15 /Xinhua-PRNewswire-FirstCall/ -- CNinsure Inc. CISG, a leading independent insurance agency and brokerage company operating in China, today announced the signing of an agreement for strategic partnership with Minsheng Life Insurance Co., Ltd ("Minsheng Life Insurance").
According to the agreement, CNinsure will further strengthen its partnership with Minsheng Life Insurance at both the group and local branch levels to further promote the business between the two parties.
Founded in 2002 and headquartered in Beijing, Minsheng Life Insurance is one of the seven nationwide insurers under direct supervision of the China Insurance Regulatory Commission. Minsheng Life Insurance and CNinsure have maintained business cooperation at the local branch level since 2006.
Commenting on the event, CNinsure’s Chairman and Chief Executive Officer, Yinan Hu, said, "We are pleased to announce the signing of this strategic agreement. We believe this agreement will deepen our cooperation with Minsheng Life and benefit both parties. We are confident that our strategic cooperation will be viewed as a good example of cooperation between insurers and professional insurance intermediaries."
About CNinsure Inc.
CNinsure is a leading independent insurance agency and brokerage company operating in China. CNinsure’s distribution network reaches some of China’s most economically developed regions and affluent cities. The company distributes a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance-related services.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. Among other things, the management’s quotations contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about CNinsure and the industry. Potential risks and uncertainties include, but are not limited to, those relating to CNinsure’s limited operating history, especially its limited experience in selling life insurance products, its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, and its ability to compete effectively against its competitors. All information provided in this press release is as of April 15, 2008, and CNinsure undertakes no obligation to update any forward looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although CNinsure believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by CNinsure is included in CNinsure’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1.
