NU Online News Service, Sept. 8, 3:32 p.m. EDT
Willis Group Holdings said yesterday that it will appeal last week's decision by India's Insurance Regulatory & Development Authority (IRDA) to not appprove the license renewal application of the broker's joint venture in India.
The IRDA said it is "not inclined to accept" the license renewal for Willis India Insurance Brokers Pvt. Limited, in which Willis holds a 26 percent stake.
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