Anbang Insurance Group’s founder and former chairman Wu Xiaohui has been sentenced by a Chinese court to 18 years in prison for fraud and embezzlement, China’s official news agency Xinhua reported Thursday morning. The court also ruled that RMB 10.5… Read More>>
Chinese insurers’ $15 billion overseas real estate shopping spree may go on the endangered list, as the country’s insurance regulator reprimanded three major insurers for illicit cross-border investments Saturday. The move is part of the regulator’s efforts in reining in… Read More>>
The Chinese government now has direct control of the Waldorf Astoria hotel in New York, as the country’s insurance regulator formally takes over the hotel’s embattled owner, Beijing-based Anbang Insurance Group.
Anbang, which had scooped up the famed Manhattan property… Read More>>
Following months of rumours about his fate, Anbang Insurance chairman and CEO Wu Xiaohui has been detained by Chinese authorities, according to reports in mainland state-owned media.
The controversial insurance executive was taken away by “relevant departments” on Friday, according… Read More>>
The Philippines biggest retail developer must be hoping that Christmas is catching on in Tianjin as it now has 565,000 square metres of retail space to fill in the famously oversupplied Chinese second-tier city. Also in the headlines today, Shanghai… Read More>>
Beijing-based Anbang Insurance, which failed in a $14 billion bid to buy Starwood Hotels and Resorts this year, continued to draw attention in China’s financial world this month after new figures showed that the company controlled by entrepreneur Wu Xiaohui… Read More>>
China’s securities regulator has sent formal notices to both China Vanke and its unwanted suitor, Baoneng Group, for violations related to the ongoing takeover battle for the mainland’s biggest property developer.
Just days after Vanke chairman Wang Shi had called… Read More>>
Anbang Insurance’s abrupt and unexplained withdrawal from a $14 billion bid for Starwood Hotels and Resorts last month came as a surprise for many observers who had tracked the sudden rise of the privately-held mainland firm.
Now the China Insurance… Read More>>
Marriott International added a new chapter to the Starwood Hotels & Resorts takeover drama yesterday, when Starwood’s board pushed aside a $13.2 billion deal with China’s Anbang Insurance, to accept a counteroffer from Marriott worth $13.6 billion.
Many observers are… Read More>>