Insurer Fidelidade broadens investment

Portuguese insurer Fidelidade is broadening its investment portfolio to include beer, clothing and tourism.

 

Fidelidade is now a shareholder in the Chinese beer brewer Tsingtao. Fidelidade is owned by the Chinese group Fosun which in March completed a 17.99% of the Tsingtao Brewery group which is the second largest brewer in China and one of the largest in the world.

The deal involved 6.6Bn Hong Kong dollars (€712 million).

Through this operation, Fidelidade now holds 2.55% of Tsingtao. Fosun’s financial report 2017 include Fidelidade (bought in 2014) and UK tour operator Club Med (7.225%), and German clothing retailer Tom Tailor (10.49%).

Fosun has declined to detail all the investments made by Fidelidade, only confirming the tour operator, the German clothing retailer and Chinese brewer but did state that these investment only represented around 1% of total assets managed by Fidelidade.

Fosun was founded in 1992 in Shanghai and was listed on the Hong Kong Stock Exchange in 2007.   

Over the last two decades, Fosun has evolved from an entrepreneurial start-up into a leading investment group taking roots in China with a global foothold. Fosun has been actively implementing its investment model of “Combining China’s Growth Momentum with Global Resources” and adhering to its “value-investing” discipline, aspiring to becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented integrated financial capability” and “global industrial integration capability taking roots in China”.

Along with the “insurance + investment” twin-driver core strategy, Fosun’s ultimate vision is to provide clients with “one-stop solution integrating wealth, health and happiness”.