What does Anbang Department mean?

Anbang is an insurance company in China, established in 2004, mainly engaged in insurance business, including life insurance, property insurance, critical illness insurance and accident insurance. Anbang plays an important role in the insurance market in China and is also one of the most influential insurance companies in China. In 20 18, anbang was taken over because the management was fined about $69.7 billion, and violations of laws and regulations were exposed in high profile.

Anbang Department refers to holding companies, departments and subsidiaries of Anbang Company. Anbang's subsidiaries include Bank of China Trust, Financial Street Holdings, Xinhualian and Rongxin International. Before taking over, Anbang had huge investment and capital reserves. They have participated in the equity investment of many major enterprises in China, and occupy a pivotal position in many industries.

This takeover led to the reform and reorganization of Anbang Department. Xinhua Life Insurance and Anbang Asset Management became the auction targets after takeover, and were listed after being "managed" by state-owned holding companies. At the same time, financial street holdings, rongxin international and other companies have also carried out business adjustment and reform. Anbang's future development faces many uncertainties. However, with the rapid development of China's insurance market and the continuous innovation of policies, Anbang's companies will continue to face opportunities and challenges.