China’s Fosun International has completed plans to grab a 20 percent stake in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives.

The Shanghai-based investment group announced its plans for Ironshore in August, and is now Ironshore’s largest shareholder.

Ironshore’s executives, in turn, said they will use the funding infusion to buy back outstanding equity from existing equity shareholders, including long-term private equity shareholders.

In the end, the investment will help drive Ironshore’s global expansion, Ironshore CEO Kevin Kelley said in prepared remarks.

“Our relationship with Fosun will further strengthen Ironshore’s ability to realize strategic growth opportunities through our global insurance platform,” Kelley said.

Fosun is an investor that brings serious clout to the table. The firm has been around since 1992 and its assets cover property/casualty insurance, life insurance, reinsurance and specialty insurance. Fosun is also focused on areas including industrial operations and asset management.

Ironshore itself has quite the pedigree. It launched in 2006 with more than $1 billion in private equity capital behind it. The company insures various lines in the U.S. and international markets including professional and management liability, property, specialty casualty and construction, aviation, political risk, media and technology, marine, war and terrorism.

Kelley runs Ironshore with President Shawn Kelly – executives who both left American International Group during the financial crisis. Ironshore is also still presumably eying the public markets at some point, after filing plans for a $100 million IPO in late June.

Source: Fosun International/Ironshore Inc.