Insurance Industry Growing in China

The insurance industry is putting down roots in China. The New York-based Metropolitan Life Insurance (Metlife) announced here Thursday the establishment of a joint venture in the Chinese capital in collaboration with an airport management company. Metlife and Beijing Capital Airport Group Company (BCAC) will have half-and-half ownership of China U.S. Metlife. However, the new establishment added to the concerns of other industry players as the two showed their intention to dominate the air passenger accident insurance market. Here for more. And yes, car insurers are headed that way as well.