GUANGZHOU, China, Sept. 10 /PRNewswire-Asia/ -- CNinsure Inc. (Nasdaq: CISG), (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced that CNinsure ranks 39th in the Forbes Asia's "Best Under A Billion" List for 2010, making it the only insurance intermediary company to be in the List in the Asia-Pacific region.
Forbes Asia releases its "Best Under A Billion" List annually. This year, Forbes Asia selects 200 companies from almost 13,000 publicly listed companies with actively traded shares and sales between $US5 million and $US1 billion across the Asia-Pacific region. According to Forbes, the selection of the 200 companies was based on earnings growth, sales growth, and shareholders' return on equity over the past 12 months as well as over three years. A majority of the 200 companies came from the electronics, information technology, and healthcare sectors.
Commenting on the selection, Mr. Yinan Hu, chairman and chief executive officer of CNinsure, stated, "We are very pleased to be listed in Forbes Asia's 'Best Under A Billion' which is a convincing acknowledgement of CNinsure's achievements. Since our IPO, we have entrenched our leading position in the professional insurance intermediary industry and have been keen on capitalizing on new growth opportunities to ensure our sustainable growth in the long run. The honor to be the only insurance intermediary company in the List would motivate us to achieve further development of CNinsure and maximize shareholder value."
About CNinsure Inc.
CNinsure is a leading independent insurance intermediary company operating in China. CNinsure's distribution network reaches many 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 both domestic and foreign insurance companies operating in China, and provides insurance claims adjusting service as well as other 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 and the Business Outlook section 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, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China and their potential impact on the sales of insurance products. All information provided in this press release is as of September 10, 2010, 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 annual report on Form 20-F.