Willis Group Holdings Limited said Chinese authorities have lifted the suspension of the brokerage firm's Chinese affiliate, Willis Pudong Insurance Brokers Co., Limited.
The suspension, according to New York-based Willis, was the result of a misunderstanding in which representatives of the China Insurance Regulatory Commission were mistakenly denied access to the broker's offices.
Willis said it had been fined 100,000 Renminbi, or roughly $12,000, and has put procedures in place to ensure that the situation does not happen again.
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