Earnings tumble at Fosun's Peak Re

Financial services and industrial conglomerate Fosun reported an
88 percent decline in earnings at its Peak Re division in 2016, and
an underwriting loss at its soon-to-be-jettisoned Ironshore
unit.
In group full-year results Fosun said Peak Re's net profit
fell by 88 percent to $6.9mn as the division's investment
return fell to 1.5 percent from 6.4 percent in 2015.
Peak Re's premium income rose by 20 percent in 2016 to
$698.2mn, said Fosun, which gave little detail on the segmental...