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International

China plans to open up insurance market, boost ties with Asian and African markets

September 18, 2013 Reprints

Chinese insurance officials said during a meeting of The Federation of Afro-Asian Insurers and Reinsurers in Beijing that the country will take stronger measures to boost the insurance sector, Hexun.com reported.

China's insurance regulator urged the country's insurance sector to actively support insurance agencies in other Asian and African nations.

Planned measures by China include urging innovation and development in areas such as liability and agricultural insurance, and opening up of insurance markets to prompt expansion by foreign insurers.

Meeting participants also highlighted the importance of the 'co-insurance' business model.

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China plans to open up insurance market, boost ties with Asian and African markets

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