Willis Group Holdings said it has signed an agreement with ChinaDevelopment Bank (CDB), naming Willis as the bank's global riskmanagement and insurance consultant.

Willis called the arrangement “an extraordinary example of thepotential of the Chinese market,” but released no financialdetails.

The insurance broker said it is a major step to engaging thenation's banking industry. The company also said the agreementsignals growing recognition in China of the need for insurancebroking services.

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