U.S. regulator probes Chinese insurer's purchase of IronshorePosted On: Jun. 9, 2016 12:00 AM CST
Fosun International Ltd. is cooperating with the Committee on Foreign Investment in the United States in that federal body's review of Fosun's 2015 acquisition of Ironshore Inc.
In a statement posted on its website, the Chinese insurer said that it and Ironshore “have voluntarily notified CFIUS regarding Fosun's acquisition of Ironshore, a U.S.-based provider of casualty and specialty lines of insurance. The parties have been working closely with CFIUS and providing CFIUS with all the information it needs for its considerations.”
“CFIUS is an inter-agency committee authorized to review transactions that could result in control of a U.S. business by a foreign person in order to determine the effect of such transactions on the national security of the United States,” according to CIFUS' website.
A spokeswoman for the committee declined to comment on any review of Fosun's acquisition of Ironshore.