Driven by a surge in foreign investment, the Chinese insurance market has reached 1 trillion yuan ($170 billion) in total assets. Since opening up the market to foreign insurers – usually through joint ventures with local companies – the industry has become the country’s latest success story.

The past year has seen unprecedented growth in the number of foreign insurance groups showing interest in the Chinese market. In the past two weeks four major insurance groups – Britain’s Prudential, Citigroup, Allianz and Liberty Mutual – have announced expansion plans into the region.

The August issue of Insurance & Risk Professional, due to be mailed to subscribers next week, contains a report on how to go about doing business in China.