China regulators to take over insurer Anbang for one year following probe

China regulators to take over insurer Anbang for one year following probe

Signage is displayed atop Anbang Financial Center Block A in Beijing, China, on Thursday, Feb. 1, 2018. China's government, which has been probing alleged financial wrongdoing at Anbang Insurance Group Co., is seeking to broker the sale of a stake in the insurer, people with knowledge of the matter said. Photographer: Giulia Marchi/Bloomberg

Anbang Insurance Group Co., the Chinese insurer that burst on to the global scene three years ago with a series of high-profile acquisitions, will be taken over by Chinese regulators after a probe that began in June.

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