GUANGZHOU, China, Nov. 26, 2010 (GLOBE NEWSWIRE) -- CNinsure Inc. (Nasdaq:CISG), a leading independent insurance intermediary company operating in China, today announced that it has launched a co-branded customized accident insurance product with Taiping Life Insurance Co., Ltd. ("Taiping Life"), a leading life insurance company in China.
This new insurance product is custom designed by Taiping Life for CNinsure to meet the needs of various target groups of customers. It will be exclusively distributed through CNinsure's nationwide sales network under the brand name of both CNinsure and Taiping Life.
Commenting on this event, CNinsure's chairman and chief executive officer, stated: "We are excited to introduce this product. As of date, CNinsure has worked with insurance companies for the exclusive sales of over nine customized products, which evidenced our ongoing efforts to differentiate ourselves from our competitors and strengthen our profitability."
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 domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.
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 November 26, 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.
CONTACT: CNinsure Inc. Oasis Qiu, Investor Relations Manager +86-20-61222777x850 firstname.lastname@example.org