U.S. life insurance companies are pressing China to make good on WTO commitments to give them equal access to its booming market, arguing that they can help meet the needs of a fast-aging population, the head of an industry group said yesterday. Insurers want Beijing to remove obstacles that limit their ability to set up nationwide operations and cap foreign ownership of a Chinese insurer at 50 per cent, said Frank Keating, president of the American Council of Life Insurers. He said China's life insurance market, now about one-10th the size of the $540-billion-a-year U.S. market, could grow in coming years to become the world's biggest.

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