Fosun eyes expansion in insurance sector
Posted On: May. 29, 2015 12:00 AM CSTChina's Fosun International Ltd. is looking for opportunities to purchase foreign insurance assets amid low valuations and risks, reports EJ Insight citing the Hong Kong Economic Journal.
Liang Xinjun, chairman of Fosun, said that the proportion of insurance assets in the firm's portfolio is likely to increase to 50% in 2015 from 35% in 2014. The group's insurance assets totaled 113.1 billion Chinese yuan ($18.2 billion) in 2014. Fosun's total premiums are likely to exceed $200 billion Hong Kong in 2015.