Brokers Eye Emerging Markets

U.S. insurers view China, India, Brazil and Japan among the foreign markets with the most potential, with close to three billion potential insurance buyers among them, said Kevin Cronin, president and chief executive officer for the International Insurance Council in Washington.

In early June, an agreement over two insurance issues moved China a step closer to entry into the World Trade Organization. Talks with the U.S. trade representative produced an agreement for a five-year phase-out of the compulsory 20 percent cession to the state-owned China Reinsurance Company and rules for U.S.- and other foreign firms on large-scale commercial ventures.

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