Chinese government takes over troubled insurance giant Anbang

Photo of Chinese government takes over troubled insurance giant Anbang
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  • Chairman Wu Xiaohui prosecuted for economic crimes
  • Firm recently held talks with company controlled by Kushners

The Chinese government on Friday seized control of Anbang Insurance Group, one of the country’s most politically connected companies and a firm that recently held talks with a company owned by the family of Donald Trump’s son-in-law Jared Kushner.

Anbang had violated laws and regulations which “may seriously endanger the solvency of the company”, the China Insurance Regulatory Commission (CIRC) said in a statement announcing the seizure, without giving details.

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view The Guardian: World News
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