Willis China Appointed Insurance Consultant for the Operational Assets of the World’s Largest Hydropower Project, the Three Gorges Dam
London, UK, March 5, 2008 – Cementing its position as the pre-eminent power, utilities and construction broker in China, Willis Group Holdings (NYSE: WSH), the global insurance broker, has won a two-year contract as the insurance consultant for the operational assets of the largest hydropower project in the world, the Three Gorges Project. Located in Sandouping, a region in the Hubei province of China, the project will be fully operational by 2011.
The Three Gorges hydroelectric power project spans the mighty Yangtze River and will generate enough electricity (84.7 billion Kwh/yr) to power a city four times the size of Los Angeles. The dam is the world’s largest concrete structure, containing 28 million tons of concrete and 32 million tons of rock and earth fill. It incorporates 32 700MW turbines and five-step ship locks that can lift 10,000 ton ocean-going vessels the 113m (371 ft.) necessary to pass upstream. This will allow ships to travel 600km inland to Chongqing, a region rich in manufactured and agricultural goods.
Joe Plumeri, Chairman and CEO of Willis who visited the dam site last summer said, “We are proud to be associated with one of the greatest engineering feats of the twenty-first century and are passionate about providing world-class service to Chinese ventures. It is hoped that the Three Gorges project will generate inexpensive electricity and easy river access to the interior, opening the region up to more international investment.”
With 20 licensed offices located throughout China, Willis is making great strides in the country and was recently ranked in the top position in a review of the quality of licensed insurance brokers operating in Shanghai by the China Insurance Regulatory Commission (CIRC).
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 300 offices in some 100 countries, with a global team of approximately 16,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.