CIRC lambasts Anbang, bans two products

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 China Insurance Regulatory Commission also instructed Anbang to rectify its product development and management. A spokesman for Anbang Insurance Group Co, the parent company of Anbang Life did not immediately comment when contacted by Reuters.