Fosun International Limited, together with its subsidiaries, an investment group in China, has completed its acquisition of Meadowbrook Insurance Group, Inc.

“The successful completion of this transaction constitutes an important milestone for Fosun's investments in the United States financial industry and an important step in Fosun's strategy of expanding businesses with insurance as the core. Fosun looks forward to adding Meadowbrook's high-caliber staff, comprehensive offerings of high-quality specialty insurance products, and a robust distribution network to the Fosun family and has full confidence in the incumbent management team. Meadowbrook will further strengthen Fosun's capability to access long-term high-quality capital and enhance [our] insurance business capabilities on both the liability end and investment end. We are committed to leveraging Fosun's global resources to support long-term and stable development of Meadowbrook,” said Guo Guangchang, the chairman of Fosun.

Robert S. Cubbin, the president and chief executive officer of Meadowbrook, said, “We look forward to this next chapter in Meadowbrook's history. As part of Fosun, Meadowbrook will benefit from a stronger capital base, enabling us to better meet the needs of our customers, partners and policyholders well into the future.”