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Anbang on a $10-billion deal spree

The list of deals Anbang didn't complete is about as long


Anbang Insurance Group notched up more than $10 billion of foreign acquisitions during a three-year global takeover binge, a campaign that brought Chairman Wu Xiaohui into the orbit of Wall Street and Washington elites before coming to a halt as Chinese authorities moved to rein in acquisitive insurers. Wu’s responsibilities have now been handed over to other senior executives, and Chinese authorities have asked banks to suspend some business dealings with the insurer after the chairman was detained. The move makes Wu the latest of several tycoons to run afoul of officials ...

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First Published: Sat, June 17 2017. 21:43 IST