In China: CNinsure Enters into Strategic Partnership with Ping
CNinsure Inc., a leading independent insurance agency and brokerage company operating in China, today announced the signing of a Memorandum of Understanding (MOU) with Ping An Life Insurance Company of China, Ltd. for a strategic partnership in the distribution and design of certain insurance products.
According to the MOU, CNinsure will work closely with Ping An Life Insurance in the distribution of accident, health, endowment and medical insurance policies. They will also co-design some insurance policies, based on Ping An Life Insurance's expertise in product development and CNinsure's understanding of customers' needs. Under the partnership, CNinsure can exclusively distribute the customized products while Ping An Life Insurance provides comprehensive training and sales support, including incentive rewards to sales agents.
Commenting on the event, CNinsure's Chairman and Chief Executive Officer, Yinan Hu, said, "We are pleased to announce the signing of the MOU. With increasing market appeal since our IPO and expanding distribution network, we have made significant progress in deepening relationship with insurance companies, particularly with Ping An Life Insurance, which is one of the leading Chinese insurance companies and one important strategic partner of CNinsure. By forming the partnership, we believe we can help Ping An Life Insurance's products reach more individuals and families through our distribution network, while the exclusive sales of customized products will help us further differentiate CNinsure from other market players."
Published on February 5, 2008
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