Anbang Says Chairman Wu Xiaohui Can’t Perform Duties

Anbang Insurance Group Co., the Chinese owner of landmark hotel Waldorf Astoria in New York, said its chairman and general manager Wu Xiaohui can’t perform his duties due to personal reasons.

The Beijing-based insurer said in a statement published on its website late Tuesday that Wu has delegated other executives to carry out his responsibilities and the company’s operations remain normal.

Anbang is China’s third largest insurer with 1.97 trillion yuan ($290 billion) in total assets.

Contact reporter Han Wei (weihan@caixin.com)

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