UK insurer will expand its reach

China's insurance market has huge potential for foreign insurers looking to expand in a rapidly growing economy, said Gerry Grimstone, chairman of Standard Life, the largest savings and pension company in Britain.

"China is a very exciting market. I am a great enthusiast for China and a great supporter of China," he said in a recent interview with Xinhua News Agency.

"I love the fact that we are part of the growth in China and try and sell products which are good for Chinese families," Grimstone said.