China is reviving a sale of Dajia Insurance Group Co., the company that took over most of the operations of troubled Anbang Insurance Group Co., as the government seeks to turn the firm over to private investors, according to people …
When a 26-year-old Uber driver walked into a California deeds office two years ago, it was the real-estate equivalent of a butterfly flapping its wings and causing a tsunami half a world away. Hired by an elderly Chinese passenger to …
China is injecting 60.8 billion yuan ($9.7 billion) into Anbang Insurance Group Co. as it attempts to contain the fallout after the company’s former chairman was accused of masterminding a multi-billion dollar fraud. The move is aimed at ensuring Anbang’s …
Chinese prosecutors said Wu Xiaohui, the former chairman of Anbang Insurance Group Co., doesn’t deserve leniency as the one-day hearing of a fundraising fraud and embezzlement case against him wrapped up. Wu didn’t make confessions that could justify reduced penalties, …
The former chairman of China’s Anbang Insurance Group Co Ltd requested leniency at the end of his high-profile trial in Shanghai for alleged economic crimes, including fraud and embezzlement involving more than $10 billion, according to court statements. Wu Xiaohui …
A Shanghai court accused former Anbang Insurance Group Co. Chairman Wu Xiaohui of masterminding a 65.2 billion yuan ($10.4 billion) fraud, using unauthorized sales of investment-type policies to prop up the acquisitive company’s capital. The charges in court statements, which …
Anbang Insurance Group Co Ltd. said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company and remains committed to the development of its overseas subsidiaries. These are the first comments by Anbang …
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 …
The revolution in China’s insurance industry that helped unleash about $80 billion of acquisitions started with a whimper and ended with a bang. With little fanfare, China’s top insurance official, Xiang Junbo, in 2012 rolled out rules giving insurers greater …
Anbang Insurance Group Co., known for its aborted attempt to buy Starwood Hotels & Resorts Worldwide Inc. in March, is turning its attention from chasing deals to digesting $13.5 billion of overseas acquisitions announced since 2014. The company will focus …
