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In it for life
HOME > PAST ISSUE > QUESTION & ANSWER [Premium content]March 2007
China’s insurance market may be officially open to foreign players but barriers remain as far as ING’s head of operations in the country is concerned
Big things are expected of China's life insurance industry. With insurance penetration coming in at around 2%, compared to 4-5% for the heavyweights of Europe and North America, the market potential is clear. Foreign involvement is still nascent stages, dwarfed by three domestic giants responsible for 70% of business. ING arrived in China in 1993, growing its operations as the market opened to foreigners. The acquisition of Aetna in 2000 gave ING control over what is now known as Pacific ...
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