The reinsurance arm of global brokerage Willis Group Holdings fired two of its top employees in the Hong Kong office of Willis Re—the brokerage’s reinsurance arm. Willis said the executives were dismissed for what it termed “inappropriate business practices.”
“Willis recently discovered an incidence of inappropriate business practices within our reinsurance division in Hong Kong. After an internal investigation, Willis dismissed two employees and notified the Hong Kong regulatory authorities,” the company said in a Wednesday statement.
Willis did not name the dismissed employees or go further into detail on the business practices, but did say the events had not disrupted its business operations.
“At no point was the reinsurance business of any client at risk or negatively affected,” Willis said.
Willis is one of the best represented foreign brokers in China, and has been active in the country since 1977.
