Foreign insurers are meeting a wall of resistance as they try to penetrate the Chinese market, new analysis from Moody's indicates.

The report, “Foreign Insurer Strategy in China: Advance or Retreat?,” notes the number of foreign-based insurers in China has grown to 45 as of September 2011, compared to 13 in 2004 and the market as a whole has grown to $236 billion in annual premiums as of 2010.

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