Anbang Insurance Group placed under supervision

The Chinese authorities took control over Anbang Insurance group.

The China Insurance Regulatory Commission announced on February 23, 2018 the placement under supervision of Anbang Insurance for one year.

This decision is justified by the illegal practices of the company. Wu Xiaohui, chairman of the conglomerate is also removed from his position as chairman for embezzlement.

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• The insurance industry in China