Willis gains majority in Chinese broker.Willis Thomas 1621-1675. English anatomist and physician known for his studies of the nervous system and the brain. He discovered the circle of Willis at the base of the brain. Insurance broker A broker, independent of any insurance company, who represents the interests of the buyer in searching for insurance coverage at the lowest cost and providing the highest benefit to the buyer. to gain a majority stake in a Chinese company, after getting approval from regulators to take a 51% stake in a joint-venture broker. The China Insurance Regulatory Commission granted approval for Willis to increase its stake in Willis Pudong Insurance Brokers Co. Ltd. to 51% from 50%, Willis said. Willis first got permission to acquire a 50% stake in Pudong Insurance Brokers, then a 100% Chinese-owned company, in March 2004. In August 2004, Willis Pudong won a license that allowed it to conduct brokerage activities throughout China. Willis said the license allows it to conduct commercial insurance and reinsurance broking throughout the country. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion