CNinsure, an independent insurance agency and brokerage company, has reported that total net revenues for the third quarter ended September 30, 2007 were $15.6 million, representing a 124.8% increase from $6.9 million for the third quarter in 2006.
For the period total operating costs and expenses were $10.3 million representing growth of 61.1% as compared to $6.4 million for the same period a year ago. Meanwhile the operating margin was 34% for the quarter as against 7.9% for the comparable quarter in 2006. The company has recorded a net income of $5.7 million, representing an increase of 508% as compared to $0.9 million for the third quarter of 2006.
Yinan Hu, chairman and CEO of CNinsure, said: We are encouraged by the strong top and bottom line growth achieved during the third quarter of 2007. CNinsure’s leading position among professional insurance intermediaries in China and our unified operating platform give us extensive reach to distribute insurance products underwritten by many insurance companies operating in China.