BEIJING May 5 China's insurance regulator has
banned Anbang Life Insurance Co from applying for issuance of
new products for three months for inappropriate design of
products and disrupting market order, it said in an online
public notice on Friday.
The regulator also instructed Anbang to rectify its product
development and management.
A spokesman for Anbang Insurance Group Co, the
parent company of Anbang Life (IPO-ABLF.HK), did not immediately
comment when contacted by Reuters.
(Reporting By Beijing monitoring desk; Editing by Randy Fabi)