To provide product distribution and outsourcing of claims adjustment service
CNinsure, an independent insurance intermediary company operating in China, has signed a strategic partnership agreement with China Pacific Property Insurance, a property and casualty insurance company in China.
Pursuant to the agreement, CNinsure will work closely with China Pacific on product distribution, development of custom-designed insurance products which will be underwritten by China Pacific and exclusively distributed through CNinsure’s distribution network and the outsourcing of claims adjusting service.
Yinan Hu, chairman and CEO of CNinsure, said: We are glad to establish the strategic partnership with China Pacific. By combining the strengths of China Pacific and CNinsure, which are the second largest P&C insurer and the leading insurance intermediary company in China, respectively, we believe the partnership will be conducive to creating more value for both parties, enhancing our competitiveness and further consolidating our leading positions in our respective areas.
In 2009, we have made great efforts to pursue strategic cooperation with our P&C insurance partners at headquarter levels, which we hope would allow us to benefit from strengthened profitability as we have seen in our life insurance business.
“The Agreement signed today is the third of such kind, following similar arrangements with Ping An Property & Casualty Insurance Company Of China, Ltd. and China United Property Insurance Company Limited made earlier this year.