CNinsure, a China-bsaed insurance intermediary company, has signed a strategic partnership agreement with Taiping General Insurance.

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

Yinan Hu, chairman and CEO of CNinsure, said: We are pleased to enter into a strategic partnership with Taiping General, with which we have established a long-term business relationship for years.

The signing of the strategic agreement indicates a consensus among senior executives of both companies that a comprehensive and in-depth cooperation between insurance companies and intermediaries has become an irrevocable trend in the industry, and that a deeper cooperation between CNinsure and Taiping General will create a win-win situation for both parties by strengthening our competitiveness and profitability.

Taiping General, a subsidiary of China Taiping Insurance Group, is a national property and casualty insurance company operating in China. Its business covers property insurance, accident insurance, health insurance and reinsurance, etc.