China Grants Aon 1st License

The China Insurance Regulatory Commission granted the first insurance broker license to a foreign company to Aon Corp., the Chicago-based broker announced last week.

The approval is for a joint venture with China National Cereals, Oils & Foodstuffs Import & Export Corp. The joint venture, to be called Aon-COFCO, will be based in Shanghai and begin operations by the middle of this year.

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