U.S. Life Insurers to Chinese Authorities: Open Up

US life insurers lobbied China’s regulators for greater market access after overseas companies’ share of premiums fell by more than a third in 2006.

“We’d like to see less red tape in China’s approval of new insurance products,” Frank Keating, chief executive officer of the American Council of Life Insurers, said at a briefing in Beijing. “The market should be open and transparent, and shouldn’t put foreign insurers at a disadvantage to local ones.”

U.S. Life Insurers to Chinese Authorities: Open Up
Source: Economic Times