Liberty launches Chinese P&C joint venture

Liberty Mutual Insurance has signed an agreement with Chinese
conglomerate Sanpower Group to create a joint P&C
operation.
Sanpower will hold a 51 percent controlling interest in the
company, with Liberty Mutual holding the remaining 49 percent
minority stake.
The transaction is subject to approval by regulatory
authorities, including the China Insurance Regulatory
Commission.
Sanpower is a private Chinese conglomerate with interests in the
financial, health and retail sectors, and holds tot