Fosun International Limited (00656.HK) announced Monday that it had completed purchase of the rest 80 percent equity in Ironshore Inc. at 17.20 US dollars per share.
The total transaction value was about 2.043 billion US dollars. Ironshore becomes a wholly-owned subsidiary of Fosun after the acquisition. Fosun is a leading investment group taking roots in China with a global foothold.
Fosun regards the development of insurance business as a premium path in connecting its investment capability to long-term high-quality capital. Ironshore provides broker-sourced specialty commercial property and casualty coverage for varying risks on a global basis through its multiple international platforms.
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