CNinsure, an independent intermediary company operating in China, has posted a solid growth in revenues for the first quarter of 2009. Total net revenues were up by 58% to RMB215.9 million from RMB136.6 million in Q1,08. Net income in the quarter grew by 30% to RMB45.5 million. The growth in revenues is primarily driven by increased sales force and contributions from recently acquired or established entities.
A major chunk of the total net revenues is derived from Property and Casualty (P&C) segment. About 74.2% of the revenues are from P&C segment while life insurance segment accounted for 15.8% of the revenues. 10% of the revenues are generated from claims adjusting service segment.
CNinsure is a distributor of P&C and life insurance products underwritten by domestic and foreign insurance firms operating in China. The company also provides insurance claims adjusting and other insurance related services.