CNinsure Inc. forms SA with Ping An Life Insurance
CNinsure Inc. (Nasdaq: CISG) said this morning that it has formed a strategic partnership with Chinese insurance company Ping An Life Insurance Co. of China to distribute and design certain insurance products.
The independent insurance agency and brokerage company that operates in China said it will work with Ping An Life to distribute accident, health, endowment and medical insurance policies as well as co-design insurance policies in product development.
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.
CNinsure says its partnership with Ping An Life will capitalize on the benefits of using its own distribution network and create greater differentiation from competitors through sales of Ping An Life’s customized products.
Shares of CNinsure (CISG) popped 19.02%, or $2.06, to $12.89 in pre-market trading. Shares of CNinsure have been trading in the range of $8.51 to $28.74 for the past 52 weeks.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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