CNinsure Wins 2010 Financial Innovation Award
January 10 2011 - 7:32AM
CNinsure Inc. (Nasdaq:CISG) (the "Company" or "CNinsure"), a
leading independent insurance intermediary company operating in
China, today announced that it has been granted a 2010 Financial
Innovation Award by the People's Government of Guangdong Province
of China for its successful implementation of the "operating
platform + entrepreneurial agent program." Other award winners
included leading financial research institutions, banks, insurance
companies and security brokers.
The Financial Innovation Awards are held annually to acknowledge
financial institutions for their accomplishments in financial
innovation which facilitate smoother transactions and more
effective resource allocation and provide impressive financial
support and services for economic development. As a leading
insurance intermediary company, CNinsure was nominated for this
award by the Guangdong Bureau of China Insurance Regulatory
Commission and the Insurance Intermediary Industry Association of
Guangdong Province, commenting: "The 'operating platform +
entrepreneurial agent program' of CNinsure is an excellent
combination of business management, technology and system
innovations, which helps reduce operational costs for the insurance
industry as a whole, enhance transaction efficiency for sales
channels and accelerate division of labor and market consolidation.
It could provide other financial services intermediaries with great
enlightenment and useful experience. "
Commenting on the award, Mr. Yinan Hu, CNinsure's Chairman and
Chief Executive Officer, stated: "We are honored to receive this
award. Over the years, our 'operating platform + entrepreneurial
agent program' has proved to be viable and vigorous in driving the
growth of the Company. We are committed to building a platform to
assist ambitious talents with entrepreneurial spirit in their
hearts to realize their dream of wealth, and cater to the needs of
insurance companies for professional product distribution and
after-sales services. In the era of deepening division of labor,
financial services intermediaries have been increasingly gaining
ground. We are geared to ride the tide and build CNinsure into a
strong diversified financial services group in an effort to
constantly fulfill the market needs of the burgeoning finance
industry in China. "
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.
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 January 10, 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.
CONTACT: Oasis Qiu
Investor Relations Manager
Tel: +86 (20) 6122-2777 x 850
Email: qiusr@cninsure.net
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