The Interim Management Working Group of Anbang Insurance Group is in the process of conducting a review of all of its assets; and working with third-party advisory firms is a necessary step in this process. Some inaccurate media reports have misinterpreted this review process.
The selection of new strategic shareholders for Anbang has commenced and is running smoothly. Currently, Anbang has sufficient cash flow to fulfill its commitments to all customers and ensure that the legitimate rights of policyholders are effectively protected.
Anbang is committed to the healthy development of all its overseas subsidiaries. The Interim Management Working Group will maintain effective communication with all of Anbang’s subsidiaries and their respective local regulatory agencies as it reviews market conditions and any optimization plans and/or developments on an ongoing basis.
The review of Anbang’s overseas assets is a complex and comprehensive exercise. We currently do not have any plans to sell off overseas assets, nor do we have a specific timetable for optimizing these assets.
Interim Management Working Group
May 28, 2018