The CIRC also said Anbang'schairman and key shareholder, Wu Xiaohui, has been prosecuted for economic crimes.
ChinaInsurance Regulatory Commission (CIRC) claimed that the move is taken to maintain normal operation at the company and protect consumers' rights.
"We can see that the authorities intend to strike a balance between de-risking and financial stability", said Mr Zhou Hao, an economist at Commerzbank in Singapore, noting that personnel changes among the top financial regulators indicate that the targeting of company debt will intensify over the coming year. It also lessens uncertainty hanging over listed Chinese companies that Anbang has large stakes in, including China Minsheng Banking Corp.
"Illegal operations at Anbang may have seriously endangered the company's solvency, prompting the government to take control", the statement read. "There are no plans to sell shares in your company", the companies quoted Anbang as saying in similar filings to the Shanghai and Shenzhen stock exchanges. "The government doesn't want to run the company directly in the long term, but it could break Anbang up and arrange for pieces of it to be acquired by more established firms".
Anbang's deal making in recent years was helped in part by rising sales of investment-type products, many of which allowed holders to redeem in as little as two years with little or no penalties.
Anbang is of particular interest because its chairman, Wu Xiaohui, married a granddaughter of the former Chinese leader Deng Xiaoping.
"This appears to be an unprecedented takeover - a Chinese-style hostile takeover", Scott Kennedy, an expert on China at the Center for Strategic and International Studies in Washington, told Reuters.
Anbang, which started out as a vehicle insurance firm with state-owned backers, is recognised as one of China's richest and most opaque conglomerates.
"This says to the market "tread carefully" - if they hadn't already got that message".
The takeover will not affect Anbang's debt obligations, the statement said. Past year it ended talks to invest $400m in Kushner Companies' troubled 666 Fifth Avenue tower block in a deal that had raised ethics concerns with USA lawmakers.
The case adds to an avalanche of scandals in China's insurance industry.
Anbang distributes insurance through multiple channels, with the bulk going through banks. The Anbang announcement comes just days before the ruling party was expected to meet behind closed doors to approve personnel appointments and government restructuring decisions, Bloomberg reported Thursday.
Those holdings include the iconic Waldorf Astoriahotel in NY, a $5 billion property portfolio in Japan and Strategic Hotels & Resorts, a USA hotel chain acquired for $6.5 billion.
New York's landmark Waldorf Astoria Hotel, pictured on June 27, 2016.
But Landrio told the New York Post's Page Six that he moved from the right lane to the middle lane when he approached the bridge. The injury caused Chase to have trouble lifting his arm, making it near impossible for him to throw a punch, his reps told TMZ .
Ferrari has unveiled its 2018 Formula 1 challenger, the SF71-H, as it bids to end its decade-long championship drought. Therefore the new 2018 Ferrari F1 auto has been created to make the most of the experience gained past year .
Mourinho stressed the French worldwide gave "stability" to United in their goalless draw against Vincenzo Montella's side. The Chilean has not been playing in the way United fans hoped he would when he signed for the Devils this January.
The "Explore", which is created to be drop proof, runs Android's Nougat - the seventh edition of its operating system. The phone has been developed alongside the Bullitt Group , and is fully compatible with Land Rover's in-car apps.
Nair, who has been had been president of Ford's north American unit since June 2017, issued an apology. Hackett has struggled to revive Ford's fortunes since taking over as CEO from Mark Fields past year .
The bank will make a final decision once the outcome of the Financial Conduct Authority investigation is complete. Barclays bosses said after the results were posted that the bank would take a £127m hit from Carillion's failure.
Much of this information was found after a raid on former National Basketball Association agent Andy Miller's office. At least 20 Division I basketball programs and more than 25 players were listed that violated NCAA rules.
The Dow Jones Industrial Average rose 1.2% on Thursday while the S&P 500 was up 1% and the Nasdaq Composite Index was up 0.8%. The New Jersey-based Private Advisor Group Inc Ltd Company has invested 0.01% in Chesapeake Energy Corporation (NYSE: CHK ).
City's only final defeat in the League Cup came on a day when they missed plenty of chances to have the game wrapped up. Arsenal team news: Arsene Wenger confirmed to Sky Sports that David Ospina will start in goal against City at Wembley.
As states, we must work together to take the steps and enact the measures to protect our residents and our communities. The governors say it's part of an effort to tamp down on buying and transporting guns across state lines.
Toys R Us hasn't reported its holiday results, but USA Today said store sales dropped 9 percent and online sales fell 20 percent. Meanwhile, CNBC has reported that Toys R Us is potentially at risk of breaching the covenant on one of its loans.
They "have nothing in common" with civil rights organizations like Black Lives Matter , nor do they have any political power. Until Trump began his campaign, she adds, white supremacist groups used to view politics as a waste of time.
Reigning world champions, Mercedes-AMG Petronas have finally revealed their 2018 Formula 1 contender at the Silverstone circuit. If it lives up to expectations, the F1 W09 EQ Power + will also help the team achieve a fifth consecutive constructors title.
Barclays group service, which includes operations and technology, had a salary gap of almost 30% and a bonus pay gap of 24%. Firms with 250 employees or more in Britain have until April 4 to report the difference between what men and women earn.
While engagement rings for men (or " mangagement rings ") aren't totally unheard of, they're definitely not a common trend. When Sheeran was first seen wearing the ring earlier in the week, fans wondered if he had secretly Wednesday .
Journalist and social activist Gauri Lankesh's murder in Bengaluru in September 2017 had triggered countrywide protests . The report clubbed India with the Philippines and the Maldives as the worst nations in the Asia Pacific in this respect.
Valeo Financial Advisors LLC's holdings in Kinder Morgan were worth $286,000 at the end of the most recent reporting period. Axa increased its stake in Marathon Oil Corp (MRO) by 735.15% based on its latest 2017Q3 regulatory filing with the SEC.
Intel also expects to show off its PC modems that support eSIM technology at the Mobile World Congress in Barcelona. Intel is fighting Qualcomm and Samsung in this market so this partnership is pretty important for them.
I encourage you all to break social norms, show love to all your brothers and sisters, not just the ones that look like you. The movie was directed by Ryan Coogler , a young black man from Oakland who graduated from Sacramento State University.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Landscape Capital Management Llc increased Vornado Rlty Tr (VNO) stake by 38.95% reported in 2017Q3 SEC filing.
Officers from the Metropolitan Police's counter-terrorism command were called in after the letter was received on February 12. Tests revealed the powder was harmless but Scotland Yard is now said to be on high alert ahead of the royal wedding in May.