Xiang junbo biography template

(Beijing) — The fall of prolific screenwriter-cum-insurance-watchdog Xiang Junbo on Sunday has left many Chinese insurers scrambling for cover.

That is because the central government’s decision to investigate the head of the China Insurance Regulatory Commission (CIRC) for alleged graft caps a yearlong crackdown on corporate raids by insurers that were funded by high-risk, high-yield policies allowed under liberal rules introduced under Xiang’s watch.

Xiang, who took over the reins of the CIRC in October , was earlier credited with overseeing the transformation of China’s cash-rich but sleepy insurance sector into a major force behind global acquisitions.

Chinese insurers have gobbled up several expensive high-profile properties, including the Waldorf Astoria New York and European financial institutions after investment rules were relaxed during Xiang’s tenure. Liberalization efforts spearheaded during his term als