China Regulator to Retain Control of Anbang Insurance Group Until Next Year
The regulator will maintain the stable operation of Anbang and protect the interests of all relevant parties, the China Banking and Insurance Regulatory Commission said in a statement on its website.
The Chinese government took control of Anbang in February last year, part of a sweeping campaign to reduce financial risk. The former chairman of Anbang, Wu Xiaohui, was later sentenced to 18 years in prison by a Chinese court.
(Reporting by Beijing Monitoring Desk; Editing by Muralikumar Anantharaman)
- Anbang Insurance Assets for Sale Include Manhattan Building, Health Insurer, Hotels
- Anbang Chairman Wu’s Downfall Sealed with 18 Year Jail Term
- Q&A on China’s Takeover of Giant Anbang Insurance
- Why Employers Should Stop Hiring Based on Work History
- Claims Insurtech Snapsheet Raises $29 Million to Expand Into All P/C Lines and Globally
- Billionaire Paying Off College Students’ $40 Million Debt Has Ties to Insurance Industry
- Hartford to Close on $2.1 Billion Acquisition of Navigators on May 23