Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses across the industry. The virus has forced closures across the entire economy and not just in a limited number of …
The Chinese government on Friday seized control of Anbang Insurance Group Co. Ltd and said its chairman had been prosecuted, dramatically illustrating Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk. Anbang had violated laws and …
Founded as a provincial auto insurer, Anbang Insurance burst from obscurity with a $2 billion bid for New York’s Waldorf-Astoria Hotel in 2014, casting the company and its ambitious chairman as flagbearers for a new breed of Chinese dealmakers. But …
Anbang Insurance Group, one of China’s most aggressive buyers of overseas assets, said on Wednesday its chairman was temporarily unable to fulfill his duties, just over a week after denying reports he had been barred from leaving the country. The …
China’s Anbang Insurance Group said it is not investing in a flagship Manhattan office tower owned by the family of Jared Kushner, U.S. President Donald Trump’s son-in-law and senior adviser. Anbang Insurance Group was named in a Bloomberg report on …
Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top EU supervisor said, saying banks might be required to hold extra capital as a buffer against what is an emerging threat. Speaking to …
When an explosion devastated parts of China’s Tianjin port in August, one insurance company turned to Chinese-made drones to help analyze the rubble and estimate the damages. Comparing satellite photographs of the site ahead of the blast with high-resolution images …
Foreign business lobbies have asked China to substantially revise proposed cyber security regulations for the insurance industry, signaling a dispute that started with the publication of similar bank technology rules earlier this year may widen. The draft regulations, announced by …
Alibaba, the world’s biggest e-commerce company, changed how China shops. Now the man driving its blockbuster U.S. stock sale wants to transform the rest of the country’s services industry, adding new users to the giant’s 300 million customers. Joe Tsai, …
