On Monday, the magazine Caijing reported that Wu, who founded Anbang in 2004 and built it into one of China's biggest insurers, was detained last week by insurance regulators.
In a terse statement sent to reporters around 2am Beijingtime, Anbang said only that Mr Wu - who had spent more than a decade transforming the company into a global juggernaut - was no longer able to serve in his post because of personal reasons. The statement also said Wu's responsibilities will be assumed by other senior executives, and that business will be operating normally, according to Reuters.
"Anbang's rise to worldwide prominence has been much like that of modern China itself - meteoric, with mystical origins, and often misunderstood", said Brock Silvers, managing director of Kaiyuan Capital, a Shanghai-based investment advisory firm.
Best known overseas for its 2015 purchase of New York's landmark Waldorf Astoria hotel, Beijing-based Anbang has pursued a string of high-profile foreign acquisitions under Wu.
It was in advanced talks to invest in Kushner Company's 666 Fifth Avenue project, but owner Jared Kushner, son-in-law of U.S. President Trump, recently said his company had stopped negotiations with Anbang.
IPhone 8 leak spotted, final design revealed with key features The iPhone 8 rear panel is made out of a "composite glass material" to enable wireless charging, according to a Foxconn insider . And if it makes you desire the Apple iPhone 8 even more, just remember that September is just a little more than 12 weeks away.
Following a successful deal-making run worth over $30 billion, Anbang ran into some roadblocks and failed to close on a handful of investments. "We can't touch the Anbang story; only Caijing and Caixin can do that", she said.
Anbang drew worldwide attention in 2014, as it snapped up real estate and financial-services companies in Asia, the United States and Europe, often at large premiums. A company executive and a business partner of Anbang, however, confirmed his detention to the New York Times, and the Wall Street Journal later reported a special investigative team that looks into economic crimes was behind the detainment. It also follows the mysterious disappearance in January of Xiao Jianhua, a China-born billionaire who was escorted out of his luxury hotel in Hong Kong by Chinese authorities and led across the border. The China Insurance Regulatory Commission did not respond to questions sent by fax.
Yet in several cases, Anbang has been singled out by authorities. The central bank didn't reply to a fax seeking comment and Anbang declined to comment.
The company has relied heavily on selling high-risk, short-term insurance policies to beef up its war chest for takeover bids through the capital market. Anbang's earlier agreement to buy the company was canceled in April after the Chinese company failed to meet transaction deadlines.
The report comes as Chinese authorities are engaged in a battle against corruption in their ranks and in the business world.
After all, Anbang is also infamous for its opaque shareholding structure, with murky ties to the families of top Chinese leaders.
Newly promoted Newcastle host Tottenham , while Brighton welcome Manchester City and Huddersfield visit Crystal Palace . Brighton, meanwhile, are back in English football's top division for the first time since the 1982-83 season.
Enter four freshmen: Pitchers Eric Walker and Zack Hess , as well as centerfielder Zach Watson and third baseman Josh Smith . He pitched five and two-thirds shutout innings, allowing no runs on two hits, striking out six. "The team got better".
Demonstrators gathered to protest against Islamic law take part in a rally Saturday, June 10, 2017 , in NY . Smith say they are opposed to Sharia Law in the United States because they would both be murdered under it.
The Post reported that Kushner is under investigation for the "extent and nature" of his interaction with Russian officials. Comey plans to testify that Trump asked him to shut down an investigation of fired national security advisor Flynn.
Moon's proposal came in a meeting with Gianni Infantino , chief of Federation Internationale de Football Association . Chinese officials have said they want to host the World Cup at the earliest opportunity, which appears to be 2030.
Moody's Investors Service said the inconclusive election outcome would complicate and "probably delay" negotiations with the EU. Corbyn, under whose leadership there has been a groundswell of support for Labour, against the belief of many in his party.
The pass percentage of the SSC results is announced just an hour prior to the individual results that are to be announced today. So it has to been seen how Maharashtra State Board of Secondary and Higher Secondary Education does in Class 10.
The Sun: Chelsea could make a £45m move for Napoli's Lorenzo Insigne if they lose Eden Hazard to Real Madrid . Daily Telegraph: Liverpool have turned down Derby County's £1m offer for defender Andre Wisdom.
She went on to add the Congress leadership had allowed many of its leaders to go "haywire", and that there was a "pattern in it". She also condemned Rahul Gandhi's khoon ki dalali comment. "They do so in Parliament but to do so to the Army is shocking".
Aide to Texas Rep. among those shot at baseball practice
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Court filing: Marsh seeks OK to sell 26 grocery stores
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Wonder Woman Crushes The Mummy At The Box Office
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Federal Grand Jury Indicts Accused NSA Leaker Reality Winner
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Trump travel ban dealt another blow as high court weighs in
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Dennis Rodman headed back to North Korea, report says
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Lyft joining forces with Jaguar Land Rover in tech venture
Its investment in Lyft was part of the start-up's $400m fundraising round in April, but had not been disclosed until now. Jaguar Land Rover isn't the first company to hitch itself to Lyft's wagon, in stark contrast to the deal over at Uber.
Shadow of the Colossus is being fully remastered for PS4
In case you might recall, Shadow originally released on the PlayStation 2 several years ago, developed by the folks at Team Ico . It's a wondrous game filled with danger, imagination and thrills, and one we wouldn't mind playing through again.
E3 2017: New footage and gameplay revealed for 'Days Gone'
From what we have seen of Deacon already, we know he's more than capable of handling himself and getting out of tough situations. It focuses more on the open world aspect of the game rather than the zombie horde combat that we saw past year .
Rumor: Google Pixel XL 2 (Muskie) has been canceled
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'Mario + Rabbids Kingdom Battle' Gets Official Release Date
You can also check out our roundup of all of the Ubisoft trailers or head to our E3 hub to see all of our event coverage . Links to buy or preorder a lot of E3 2017's games are still coming online, but below is what we've compiled so far.