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.
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports 
Satellite Data Reveals Hurricane Melissa Damage in Jamaica 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
The Hartford Q3 Net Income Up 41% 
