I mean Ping An is blocked by Chinese gov from expanding abroad, not by western gov.

Ping An has chance to expand in developing countries, especially in South East Asia. Western insurance reputation isn't exactly without blemish there. Prudential customers regularly stage mini protests over there. Western insurance often package their insurance with investment combo. The protest is usually related to the investment side that often fail to materialized. Something that Chinese consumers need to know before they put their money into western insurance. One thing I can say for sure, customers over there don't really have brand loyalty. They will switch insurance like switching clothes if there are better offer.