With the agreement with WTO, China is to further open up its insurance industry to foreign investment. Standard and Poor estimates that insurance sector is likely to become the world\'s biggest in terms of premiums within a decade. Statistics from the China Insurance Regulatory Commission show that the country\'s insurers totaled 100 in June this year, with premiums in the first half of the year reaching 308 billion yuan, which is a 13.69 percent year-on-year increase. According to the latest report of Standard and Poor, there is an obvious growth in life insurance sector while Motor insurance still dominates the non-life sector. With non-life insurers able to underwrite compulsory third party liabilities as of July this year, the sector\'s motor insurance premiums are likely to grow over the medium term.

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