China's insurance regulator announced on Feb. 23 plans to assume temporary control of the embattled Anbang Insurance Group, which is struggling to repay investors following its massive global buying spree. China's Insurance Regulatory Commission and other regulators will establish a working group to operate the $310 billion conglomerate -- the country's biggest insurer -- until Feb. 22, 2019, although authorities could extend the period by 12 more months if necessary. Authorities have also charged Angbang founder Wu Xiaohui with "economic crimes."...
