|
|
|
Chinese insurance regulator takes over Anbang Insurance
|
|
|
|
Category：Current Affairs
|
|
Subject：People and society ; Finance
|
|
|
|
Source：xinhua
|
|
Publish Date：02-23-2018
|
|
|
BEIJING - China's insurance regulator on Friday announced a decision to take over Anbang Insurance Group for a year in light of the company's former chief being prosecuted for economic crimes.
The move is taken to maintain normal operation at the company and protect consumers' rights, according to a statement of the China Insurance Regulatory Commission (CIRC).
"Illegal business practices by Anbang Insurance Group may seriously threaten the solvency of the company," said the CIRC in the statement.
|
