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.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.