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CNinsure To Takeover Shenzhen Hongzhengda

CNinsure Inc. has inked a definitive agreement to takeover 100% equity interest in Shenzhen Hongzhengda Insurance Surveyors & Loss Adjustors Co., through Fanhua Surveyors & Loss Adjustors Co. The deal is likely to complete by the end of June 2009, subject to certain authorizations, consents and other customary closing conditions.

Yinan Hu, Chairman and CEO of CNinsure, said: “The acquisition of Hongzhengda will strengthen our foundation in providing claims adjusting services and support CNinsure’s growth.”

China-based CNinsure is an independent insurance intermediary company. The company offers various life insurance and property & casualty insurance products, insurance claims adjusting and other insurance-related services.