Foreign insurers poised to market motor policies

The Chinese government will study the possibility for foreign insurers to sell motor third party liability insurance. Current restrictions allow foreigners to distribute just a few optional products related to this class of business. Mounting pressure from the American financial services on the Chinese authorities seems to have persuaded reluctant local authorities to open the market to foreign insurers.
Motor insurance accounts for 70% of the overall premiums volume. Growth estimates of this class of business are exponential.