Appleby Advises Fosun On Ironshore Acquisition
Appleby served as Cayman and Bermuda counsel to Fosun International Limited [Fosun] on its acquisition of the remaining 80% equity interest in Ironshore Inc. [Ironshore], by way of merger.
The transaction successfully closed on 20 November 2015 and Ironshore is now an indirect wholly-owned subsidiary of Fosun International Limited.
The Appleby global team was led by Cayman-based Partner Simon Raftopoulos and Senior Associate Samuel Banks. Appleby’s Cayman team was assisted by Associate Georgina Pullinger and Articled Clerk Katie Fleming. Appleby’s Bermuda based partner Alan Bossin and Associates Janine Carey and Sarita Ebbin completed the Bermuda law aspects of the deal.
Fosun, a Shanghai-based investment group with a global foothold, completed the initial acquisition of 20% of Ironshore’s total ownership interest in February 2015. Fosun has established a comprehensive insurance platform covering property and casualty insurance, life insurance, reinsurance, general insurance, labour insurance and specialty insurance with presences in major markets around the world.
Ironshore is the Cayman Islands holding company for the Bermuda-based insurer, Ironshore Insurance Ltd.
