Anbang Insurance, the conglomerate that was taken over and bailed out by the Chinese government earlier this year, said in a statement that it has no plans to sell off its assets after the Financial Times reported that banks had been appointed to assist in unwinding the company's investments.
"The review of Anbang’s overseas assets is a complex and comprehensive exercise," the company said on its website. "We currently do not have any plans to sell off overseas assets, nor do we have a specific timetable for optimizing these assets."
Anbang's founder and chairman Wu Xiaohui was detained last year and recently sentenced to 18 years in prison.
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