CNinsure, a China-based independent insurance intermediary company, has reshuffled its management to reallocate resources for the establishment of four new profit centers insurance brokerage business, telemarketing and internet sales, consumer credit brokerage business and wealth management distribution business.

Chengbin Li, vice president of the company, will resign from his current position as head of the life insurance unit and he will take up new assignments at the group as vice president for human resources management and strategic planning.

Mr Li will spearhead the execution of the company’s human capital strategy and will be in charge of business model optimization for the profit centers of the company.

Mr Li has been vice president and head of the life insurance unit since February 2008. From 2000 to 2008, he held various management positions, including assistant vice president, department general manager and general managers of various insurance agencies or financial service firms controlled by the company.

Feng Jin, chief operating officer and chief information officer of the company, will assume the additional role of the head of the life insurance unit. The resignation and appointment will be effective immediately.

Mr Jin has been chief operating officer of the company, since November 2008 and chief information officer since November 2007. Prior to joining CNinsure in October 2007, his work experiences include the positions of assistant president and chief information officer of New China Life Insurance, and sales manager and financial planner at the US-based Prudential Insurance Company of America.

Yinan Hu, chairman and CEO of Cninsure, said: The reshuffle reflects our long-term commitment to fully addressing the complexity and challenges of the new businesses and to creating a team with the appropriate skills and experience to ensure the sustainable success of the company.