Fosun Cuts Insurance Stake Amid Mounting Debt Concerns

What’s new: Fosun Group, one of China’s largest private conglomerates, is stepping up efforts to pare back investments amid mounting concerns over its debt risks.

Fosun International Ltd., the group’s main investment arm, reduced its holding of Hong Kong-traded shares of New China Life Insurance Co. Ltd. from 5.84% to 4.99% through a block trade Thursday, according to a New China Life filing Monday.