Some banks halted Anbang products months ago

Some banks halted Anbang products months ago

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China's Anbang Insurance Group, whose chairman was detained late last week, said on Thursday that its products were still being sold through banks, although employees at some lenders said they had stopped selling them, in some cases months ago, Reuters reports.  A spokesman for the acquisitive insurance giant, which made headlines with its 2015 purchase of New York's Waldorf Astoria hotel, said banks were still distributing its products. Bloomberg earlier reported that Chinese authorities had asked lenders to suspend some business dealings with Anbang. That report cited an unnamed source and did not give details on what type of business dealings with Anbang banks were asked to suspend. Chairman Wu Xiaohui was detained by authorities last Friday, people familiar with the matter said. Two days earlier, Wu had presided over a large internal meeting that appeared to be business as usual, said a person who was there.