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International

China: Fosun to purchase U.S. insurer Meadowbrook for $433 million

December 31, 2014 Reprints

China's Fosun International Ltd. is set to purchase U.S.-based Meadowbrook Insurance Group Inc. for around $433 million, reports Reuters.

"This transaction allows Fosun to establish a presence in the important U.S. property/casualty market," Fosun chairman Guo Guangchang said. The deal is likely to be closed in the second half of 2015. Meadowbrook's headquarters would remain in the U.S. state of Michigan.

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China: Fosun to purchase U.S. insurer Meadowbrook for $433 million

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