Where is Anbang headed after chairman Wu Xiaohui detained?

Wu Xiaohui, chairman of China's financial conglomerate Anbang Insurance Group, was detained by authorities in Beijing on Friday, according to a report on Chinese business and finance website Caijing.

The article said Wu was taken away on June 9 and China's insurance regulator, China Insurance Regulatory Commission, announced the news the next day.

Just a year ago, Wu was hailed as one of China's boldest dealmakers.

According to an Anbang statement on June 14, Wu is no longer in the post due to personal reasons. The statement went on to say that daily operations for the group are normal.

Work will be carried out now by Yao Dafeng, vice president of Anbang.

Chairman of Anbang Insurance Group Wu Xiaohui attends the China Development Forum in Beijing, China, March 18, 2017. /CFP Photo

Scrutiny grew after the Beijing-based group went through a sluggish period after some high-profile acquisitions, including a deal that involved US President Donald Trump's son-in-law Jared Kushner.

China's insurance regulator temporarily banned Anbang's life insurance unit from selling new products in May.

The regulator banned Anbang from selling new products for three months, saying it was taking disciplinary measures against the company due to regulations violations.

The Chinese conglomerate's overseas acquisitions also slowed in recent months. Here is a brief list of significant Anbang purchases:

Waldorf Astoria Hotel, New York (2014)

-- Paid 1.95 billion US dollars

Vivat, Netherlands (2015)

-- Paid 1 euro for initial acquisition, agreed to invest 1.35 billion euros to recapitalize company

Tong Yang Life, South Korea (2015)

-- 1 billion US dollars for a 57.5% stake

Strategic Hotels & Resorts, based in Chicago (2016)

-- Deal valued at about 6.5 billion US dollars

Allianz's South Korea operations (2016)

--215.8 million US dollars

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