GUANGZHOU, China, Jan. 24, 2011 (GLOBE NEWSWIRE) -- CNinsure Inc. (Nasdaq:CISG) (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced that it was named the Insurance Intermediary of the Year 2010 at the 5th annual ceremony of China Insurance Innovation Awards on January 22, 2011. A customized property and casualty insurance product co-designed by CNinsure and Chartis Insurance Company China Ltd. that targets small and medium enterprises was also awarded the Most Innovative Insurance Product at the ceremony.
The China Insurance Innovation Awards Ceremony has been held annually since 2006. It is the most influential and prominent event in China's insurance industry. The judging panel for this year's awards is made up of a number of authoritative institutions and respected individuals, including the China Insurance Regulatory Commission (the "CIRC"), the Insurance Institute of China, various provincial bureaus of the CIRC, senior management of leading insurance companies, renowned insurance experts and representatives from mainstream financial media.
Commenting on the awards, Mr. Yinan Hu, CNinsure's Chairman and Chief Executive Officer, stated: "It is a great honor for us to receive such awards at the China Insurance Innovation Awards Ceremony. Over the past decade, while running our business, we have been proactively seeking the common ground between corporate social responsibility and the growth of the Company so as to promote industry development through our commitment to value creation for our customers and business partners as well as by bringing system and product innovations to the industry. We are glad that these efforts have won us loyalty, trust and reputation from our business partners, sales agents and customers as we walk down the path towards our strategic goal."
About CNinsure Inc.
CNinsure is a leading independent 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 January 24, 2011, and CNinsure undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or 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.
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