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China Suspends Willis Unit From Operations in Guangdong

The China Insurance Regulatory Commission has suspended Willis Pudong Insurance Brokers Co. Ltd., from conducting business in the Chinese province of Guangdong after allegedly obstructing...
May 3, 2005

The China Insurance Regulatory Commission has suspended Willis Pudong Insurance Brokers Co. Ltd., from conducting business in the Chinese province of Guangdong after allegedly obstructing regulators from making an inspection, according to a report in Business Insurance. The report quoted a Willis spokesman as saying, "It was an unfortunate misunderstanding that we anticipate will be resolved hopefully as quickly as possible." Willis Group Holdings Ltd. purchased a 50% share in Shanghai Pudong Insurance Brokers Ltd. early last year and was issued a Chinese brokerage license in August.

China Suspends Willis Unit (Business Insurance 4/29/05)

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