Non-life: Motor liberalisation - Still a long journey for foreign insurers
Source: Asia Insurance Review | Sep 2014
Foreign insurers were given access to the compulsory motor third-party liability insurance sector in May 2012. Two years on, CIRC is expected to liberalise the setting of motor insurance premiums by end of September this year. While industry players we spoke to agree that it is a move in the right direction, it will not be a market-changer in the short term, especially for those who expect that it is a chance for foreign players to grab market share.
By Benjamin Ang
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