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Chairman Wu charts roller-coaster ride for Waldorf-owner Anbang

Reuters  |  BEIJING 

By Matthew MillerBEIJING (Reuters) - 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 its headline-grabbing deals and the connections forged by chairman Wu Xiaohui - from Beijing to President Donald Trump's son-in-law - have invited closer scrutiny.On Wednesday, the privately held company said Wu had temporarily stepped aside, following unverified reports of his detention in China. It has not ...

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First Published: Wed, June 14 2017. 15:39 IST