Willis Forms Joint India Venture
NU Online News Service, April 15, 2:24 p.m. EDT?Willis Group Holdings, Ltd., announced the formation of a joint venture with Bhaichand Amoluk Consultancy Services Pvt. Ltd., to provide insurance brokerage and risk management services in India.
Willis, headquartered in London, said the joint venture would be called Willis BA India Private Ltd. The arrangement follows the granting of a composite insurance broking license by the Insurance Regulatory and Development Authority in India on April 1.
Michael Faber, chairman of Willis Asia, was named chairman of the joint venture's board. Jayant Vora, chairman and managing director of Bhaichand Amoluk, was named vice chairman of the board and chairman of the executive committee.
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