No 3 Fosun

Chinese conglomerate Fosun International Ltd is moving into the US property and casualty insurance market by acquiring Meadowbrook Insurance Group for about $433 million, China Daily reported on Jan 1, citing chairman Guo Guangchang.

Fosun also zeroed in on its 18-month quest to buy French holiday resorts group Club Med when Italian businessman Andrea Bonomi refused to raise his latest offer in early January, according to Agence France-Presse.

Fosun Group, which has a diverse portfolio of core holdings in real estate, steel, pharmaceuticals and mining, is building itself into a premier global investment company.

(File Photo)