China's revamped Anbang Group nears decision on strategic investors

The Chinese government took control of high-flying Anbang in February 2018, as part of a sweeping campaign to reduce financial risk in the aftermath of a massive asset-buying spree by a handful of private-sector conglomerates.

BEIJING: China's banking and insurance regulator said on Saturday it had finished running Anbang Insurance Group, and the revamped entity Dajia Insurance Group was close to a decision on introducing a batch of strategic investors.

The Chinese government took control of high-flying Anbang in February 2018, as part of a sweeping campaign to reduce financial risk in the aftermath of a massive asset-buying spree by a handful of private-sector conglomerates.