The decision by China’s insurance supervisor CIRC to take over Anbang, did not come as a surprise, says financial analyst Victor Shih to the Washington Post. The move will “inject a dose of confidence,” he added.
The Washington Post:
Though the political implications of his ouster are still unclear, analysts see the move as a way to shore up confidence in the company and signal tighter regulation to come.
“The China Insurance Regulatory Commission’s stewardship is not totally surprising because Anbang Life still has millions of policies outstanding and may face liquidity problems if policyholders defected en masse,” said Victor Shih, an associate professor at the University of California at San Diego’s School of Global Policy and Strategy.
The move will “inject a dose of confidence,” he added.
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