Smith to Head Ironshore’s New Chinese Investment in U.S. Practice Group

Ironshore Inc. announced the formation of the Chinese Investment Practice Group, building upon its relationship with Fosun International, to identify Chinese investment opportunities in U.S.-based companies and assets. Fosun is in the process of completing its acquisition of Ironshore .

Ironshore said the new initiative “is being established to address market outlook projections that foresee Chinese investment in U.S. entities may reach $200 billion per year by 2020.”

CEO Kevin H. Kelley explained: “China is and will continue to be a dynamic economic force, as well as a driving strategic investor in foreign assets outside of the region. Our Chinese Investment Practice Group has been created as a dedicated unit, whereby Ironshore can maximize internal resources throughout our global footprint in alignment with Fosun’s strategic investment objectives.”

Toby Smith has been named to lead the Chinese Investment Practice Group, responsible for overseeing the initiative that will be represented by Ironshore executives from various business line units within its specialty global platform.

The bulletin said: “Smith and the appointed leadership professionals will identify Chinese investment opportunities in which Ironshore has the ability and aptitude to support the underlying risk. Mr. Smith also is charged with developing relationships with other Chinese investment companies, while continuing in his current capacity of managing the site pollution unit of Ironshore Environmental.”

Kelley added: “Chinese direct foreign investment is projected to exceed $2 trillion by the end of this decade. We believe that Ironshore is well-positioned to now take advantage of this emerging megatrend within the global insurance industry.”

Source: Ironshore Inc.

Topics USA China