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China is likely to allow foreign companies into its mandatory auto insurance marketplace

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Written on:November 17, 2011
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China is likely to allow foreign companies into its mandatory auto insurance marketplace

The Insurance Association of China’s chairman has announced that the country will likely be opening its doors to the largest auto market in the world to make it possible for foreign companies to enter into the mandatory auto insurance marketplace in 2012. Currently, this auto insurance market of $31.5 billion is entirely led by insurance companies from China, for example, Ping An Insurance and PICC Property and Casualty Co., but…

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