Willis China, a part of Willis Group Holdings, announced that the Chinese Insurance Regulatory Commission (CIRC) has granted it approval to open a new office in the megalopolis of Chongqing, which Willis said is a “first for a foreign-owned broker and Willis’ 21st office in the country.
“With a population of 32 million spread over an area twice the size of Taiwan in central-west China, Chongqing is the world’s biggest municipality. The mega city has a key location as an economic center on the upper reaches of the Yangtze River where its growth is fuelled by heavy industry and a mix of business from the life sciences, automotive, electronic, food and textile sectors.”
Willis China CEO Mitchell Ma commented: “As Chongqing, and indeed China, continue to grow at pace, so too do the risk management requirements of their commercial sectors. This move will enable us to be close to our clients and markets so that we can fully understand their challenges and provide them with the best quality services, backed by Willis’ global resources.”
He also described the new office as being in a “very important city,” and expressed his appreciation for the support “that we have had from CIRC in approving our application. In return, we will do our best to bring added value and new services to Chongqing to play our part in the further development of the regional insurance market.”
Source: Willis Group Holdings plc
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