GUANGZHOU, China, Sept. 10 /PRNewswire-Asia-FirstCall/ -- 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.
SOURCE CNinsure Inc.
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