CNINSURE BOOSTS PRESENCE IN LOSS ADJUSTING SECTOR

CHINA-BASED insurance broker CNinsure is boosting its presence in the loss adjusting sector with two acquisitions. Separately it has signed a strategic partnership with Minsheng Life Insurance, one of the seven nationwide insurers under direct supervision of the China Insurance Regulatory Commission (CIRC). Nasdaq-listed CNinsure intends to buy Khubon Insurance Loss Surveyors & Adjusters and will take a 51% stake in Shanghai Tianheng Insurance Loss Surveyors & Adjusters. At the end of last year it bought Fangzhong Insurance Loss Surveyors & Adjusters, an insurance adjusting company based in Guangzhou, and now intends to bring the three units together into one operation branded Fanhua (CNinsure) Insurance Adjusting Group.