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Anbang's Wu Xiaohui pays the price for defying Beijing

The CEO of a once high-flying insurer falls victim to hubris and politics

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Wu Xiaohui, chairman of Anbang Insurance Group, attends the China Development Forum in Beijing on March 18.   © Reuters

Just a few months ago, Wu Xiaohui, chairman of China's troubled Anbang Insurance Group, was in New York trying to secure a better credit rating for the voraciously acquisitive company he founded in 2004. Now he has disappeared, unseen since May, and is believed to have been detained by the authorities. Anbang said on June 13 that Wu was unable to fulfill his duties at the company he founded for "personal reasons."

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