CNinsure, a China-based insurance intermediary, has entered into strategic partnership with China Continent Property and Casualty Insurance (China Continent P&C Insurance), a property and casualty insurance company.

According to the agreement, both parties will work closely on product distribution, development of customized products, data sharing as well as outsourcing of claims adjusting services.

It is also agreed that commissions for CNinsure are subject to upward adjustment on top of the market commissions, if CNinsure meets certain targets in terms of sales volume and quality.

China Continent P&C Insurance is a subsidiary of China Reinsurance. It mainly engages in property and casualty insurance business, with a nation-wide service network.

Cninsure chairman and CEO Yinan Hu said the company is pleased to partner with China Continent P&C Insurance for extensive cooperation, which offers an exciting opportunity for both parties to leverage on each other’s capabilities to achieve mutual benefits.

"We look forward to continuing our commitment to helping our insurance partners reach a broader customer base and providing our customers with products that cater to their needs," Hu said.