Privacy Paradox

The Chinese Buy Wright USA

By Carrie Cordero
Thursday, June 30, 2016, 9:00 AM

Earlier this month, a number of federal employees were surprised by a letter they received in the mail: a letter from their professional liability insurance provider informing them that it, Wright USA, had been acquired by a Chinese company.

Newsweek’s Jeff Stein has an informative article on this development, available here. A quick preview, according to Stein’s reporting:

The company, Wright USA, was quietly acquired late last year by Fosun Group, a Shanghai-based conglomerate led by Guo Guangchang, a billionaire known as “China’s Warren Buffett” who has high-level Communist Party connections.

This affects many current and former federal employees, including many in the intelligence and law enforcement communities, who no doubt felt the sale added insult to injury after the OPM breach. According to the report, it sounds as if the deal is sealed.