Article at a glance:

Selling life insurance to China

China's life insurance business is growing by 30 percent each year, and the country will soon become the world's fourth-largest market. Although three domestic companies dominate the industry, many of the world's leading insurers are forming alliances with smaller Chinese companies to gain a toehold in this booming market.

The take-away

Time is running short for foreign insurers eyeing China. To succeed, they will need superior skills or the ability to apply targeted or innovative approaches to the well-tested strategies used by the early foreign entrants.