CNinsure Signed Exclusive Distribution Agreement with Sino Life Insurance For Custom-designed Product

GUANGZHOU, September 02, 2008 /Xinhua-PRNewswire/ -- CNinsure Inc., (Nasdaq: CISG), a leading independent insurance agency and brokerage company operating in China, today announced that it has signed an exclusive distribution agreement with Sino Life Insurance Company Ltd. (“Sino Life Insurance”), one of the leading life insurance companies in China, for the sales of a refundable participating whole life insurance product.

This is the second time that CNinsure has announced strategic cooperation with leading insurers for exclusive distribution arrangements, following the announcement of another arrangement with Ping An Life Insurance Company of China, Ltd. ("Ping An Life Insurance") in the first quarter. The new life insurance product, underwritten by Sino Life Insurance, and custom-designed by Swiss Reinsurance Company (“Swiss Re”) for CNinsure to address diversified insurance needs of Chinese consumers, has become available exclusively over CNinsure’s distribution network, under the brand name "Fanhua (CNinsure) Ruixiang", starting from September 1st, 2008. The product, packaging accidental, health care, annuity, pension and whole life insurance together, features higher coverage, longer lifetime annuity payment period with payment starting immediately in the second year after purchasing the policy, higher pension as well as waiver of  future premiums in case of disability of both the insured and the applicant, as compared with similar insurance products on the market.

Commenting on the event, CNinsure’s Chairman and Chief Executive Officer, Mr. Yinan Hu, said, “We are proud to work with Sino Life Insurance and Swiss Re to introduce such an exciting product to Chinese consumers. The exclusive distribution arrangement with Sino Life Insurance and cooperation with Swiss Re in custom-designing insurance products reflect that CNinsure, with our extensive reach to customers, is increasingly gaining recognition from our insurance partners as a valuable retail insurance distributor in China. It also shows that our efforts to expand the product portfolio with more differentiated products are reaping benefits, which we believe will help maximize our profits and fuel the future growth of CNinsure.”

CNinsure is a leading independent insurance agency and brokerage company operating in China. CNinsure's distribution network reaches many of China’s most economically developed regions and affluent cities. The Company distributes a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.