CNInsure, a China-based independent insurance intermediary firm, has reshuffled its management ranks as part of a drive to introduce new profit centres for the company.

Chengbin Li, vice president, resigned from his role as head of the life insurance arm to become vice president for human resources management and strategic planning. In his new capacity, he spearheads business optimisation methods for the firm's four new profit centres - namely, insurance brokerage, telemarketing and internet sales, consumer credit brokerage, and wealth management distribution.

Also included in the reshuffle is Feng Jin, chief operating officer and chief information officer, who assumes the additional role of head of the life insurance unit. Both appointments are effective immediately.

"The reshuffle reflects our long-term commitment to fully addressing the complexity and challenges of the new businesses and to creating a team with the appropriate skills and experience to ensure the sustainable success of the company," said Yinan Hu, chairman and CEO of CNinsure.

CNinsure's distribution network covers the majority of China's economically developed and affluent regions, making it one of the largest intermediary firms in the country. The company distributes property and casualty and life insurance products by both domestic and foreign firms operating in the country.