Acorn International Signed Insurance Business Cooperation Agreement with Taiping Life Insurance, Expanding Its Nationwide Marketing Coverage
SHANGHAI, Sept. 11, 2013 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn"), a media and branding company in China engaged in developing, promoting and selling products through extensive direct and distribution networks, today announces that Shanghai Acorn Network Technology Development Co., Ltd., an affiliated entity of Acorn, has entered into an Insurance Business Cooperation Agreement with Taiping Life Insurance Co., Ltd. ("Taiping Life"), a subsidiary of China Taiping Insurance Group Company.
Pursuant to the agreement in effect as of August 6, 2013, Acorn and Taiping Life will jointly promote and sell short-term accident insurances to Acorn's customers within designated provinces and municipalities in China. With this, Acorn has expanded its insurance business coverage to most Chinese provinces, and all direct-controlled municipalities.
"We are delighted to work with Taiping Life, one of the leading insurance companies in China, to better serve our customers with diverse insurance products and related services," said Mr. Robert Roche, Chairman of Acorn. "We aim at increasing geographical coverage to attain sustainable business growth with our extensive customer database, as an additional revenue stream for Acorn's insurance sector."
About Acorn International, Inc.
Acorn is a media and branding company in China, operating one of China's largest TV direct sales businesses in terms of revenues and TV airtime, and other direct sales platforms and a nationwide distribution network. Acorn's TV direct sales platform consists of airtime purchased from both national and local channels. Acorn's other direct sales platforms include outbound telemarketing centers, e-commerce websites, and catalogs. Acorn has built a proven track record of developing, promoting and selling proprietary-branded products, as well as products from established third parties. For more information, please visit http://ir.chinadrtv.com.
SOURCE Acorn International, Inc.