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Consolidation takes up in both the industry pattern and the market structure. The number of the nation's insurance intermediary institutions has increased sharply since it opened the market in 2002. Notably, large-sized ones continue fueling expansion via acquisitions and mergers. Cninsure, Inc. (NASDAQ: CISG), a Chinese insurance intermediary institution that debuted on the Nasdaq in October 2007, has had 53 subsidiaries so far, compared to 21 ones in 2007. There are also stake sales. An 85 percent stake in Houlder China Insurance Brokers Ltd. is putting up for sale at the Chongqing United Assets and Equity Exchange now.
Statistics show that as at the end of September 2009, China had 1,864 insurance agencies, 362 insurance brokers and 280 insurance assessors.
Source: www.cnstock.com (October 30, 2009)
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