Anbang chairman steps sdown News

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 …