China's Proposed Rules Could Boost Business for Foreign Insurers

China is considering plans to allow multinational corporations to offer compulsory automobile insurance in the mainland, reports Bloomberg.

 

Bloomberg notes the proposal would allow foreign insurers to increase their revenue in the world’s biggest car market. Under the current policy, foreign insurers can now only offer some optional car insurance products, adds Bloomberg.

 

“The government is no longer worried about foreign companies dominating China’s insurance market,” Tuo Guozhu, a professor with Beijing-based Capital University of Economics and Business, told Bloomberg.

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