China’s CNinsure Inc. announced the signing of definitive agreements with several individual entrepreneurial agents to jointly establish Jiangsu Fanhua Lianchuang Insurance Agency Co. Ltd. (‘Lianchuang’) and Jilin Fanhua Xincheng Insurance Agency Co. Ltd. (‘Xincheng’), which will expand its market presence to Jiangsu and Jilin Provinces.
CNinsure said it “will hold 70 percent and 54 percent of the equity interests in Chuanglian and Xincheng, respectively, both of which will specialize in life insurance product distribution.
The two companies will start operations in July 2008, subject to certain consents, authorizations and other customary conditions for the establishment of insurance agencies.
Mr. Lin Hai and Mr. Chen Bojun, two insurance industry veterans, will be in charge of the day-to-day management and business operations of Chuanglian and Xincheng, respectively.”
Source: “CNinsure Inc. – http://www.cninsure.net
Was this article valuable?
Here are more articles you may enjoy.
Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse 
Stryker Remains Offline After Cyberattack Linked to Iran Group 
Miami Developer Indicted in Alleged $85M Fraud Scheme 
3 Big Questions Facing FEMA With Kristi Noem Out 
