Anbang Insurance Group Co., which symbolized the era of mega-acquisitive Chinese companies that later had to reverse their buying binges, is continuing to whittle down its empire. The Beijing-based conglomerate is exploring the sale of the Manhattan office building that …
Wu Xiaohui, former chairman of Anbang Insurance Group Co., was sentenced to 18 years in prison after being convicted of fund-raising fraud and embezzlement, according to the official Xinhua News Agency. The verdict from a Shanghai court also said Wu …
Anbang Insurance Group Co., the once-acquisitive Chinese insurer that’s operating under government control, said it is in the process of reviewing all of its overseas assets amid reports of imminent divestments. Responding to questions from Bloomberg News, Anbang said it’s …
Pressure is building on Anbang Insurance Group Co. as Chinese banks distance themselves from the owner of New York’s Waldorf Astoria hotel amid a wide-ranging government probe that landed Chairman Wu Xiaohui in police custody. Chinese authorities have asked lenders …
