Fosun Group, China’s largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a “clear plan” to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday. In an exclusive interview …
Guo Guangchang, the Chinese billionaire and self-styled disciple of Warren Buffett, is looking to invest in emerging markets for the first time as his conglomerate backs off from its buying spree in developed nations. “There are fewer and fewer investment …
Europe’s largest insurer Allianz has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter said. The South Korean asset is …
Chinese conglomerate Fosun International Ltd.’s deal to acquire Israeli insurer Phoenix Holdings Ltd. for more than $460 million has unraveled, the firm’s second withdrawn overseas purchase in the past two months as it pledges a more prudent investment strategy. Fosun, …
Ironshore International announced its subsidiary, Pembroke Managing Agency, will establish an office in Shanghai in January 2016 as part of the Lloyd’s China platform. Pembroke Managing Agency will underwrite specialty lines of business, initially focusing on the agriculture, marine and …
Ironshore Inc. and Fosun International Ltd. announced that Fosun has completed the acquisition of the remaining 80 percent equity interest in Ironshore. Fosun has received approvals from all relevant regulatory authorities in the United States, the United Kingdom and other …
Chinese insurers are pursuing strategic tie-ups and outright mergers and acquisitions to tap Western expertise. They are keen for knowledge on products, pricing and technology as a nascent Chinese market for health and property insurance takes off, industry executives say. …
Fosun International Ltd., the conglomerate founded by Chinese billionaire Guo Guangchang, is in advanced discussions to acquire RSA Insurance Group Plc’s Middle East business, people familiar with the matter said. The sale could fetch less than $200 million, the people …
Some takeovers in the reinsurance industry by investors from outside the sector may ultimately be viewed as “adventuresome,” the chief financial officer of reinsurer Swiss Re said. The reinsurance business has seen a wave of merger deals and more are …
Fosun International Ltd., Chinese billionaire Guo Guangchang’s conglomerate that has bought insurers and real estate around the world, proposed raising HK$11.7 billion ($1.5 billion) in a rights offer to fund its push into the banking and insurance industries. The company …
