Anbang Insurance to sue business magazine Caixin

The Financial Times reports China’s Anbang Insurance Group said it will sue respected investigative news magazine Caixin, as well as its editor Hu Shuli, for what it has called “slanderous” allegations about its finances and chairman. In an open letter addressed to Ms Hu, published on Wednesday morning on Anbang Group’s official site and dated May 1, the company’s legal department said that Anbang has “decided to sue you [Ms Hu] and Caixin media.” The letter said Anbang will also file suit in Canada against Guo Tingbing, author of a recent Caixin cover story that made claims about financial irregularities at the insurer. The open letter repeats accusations of libel levied by the company when it threatened at the weekend to sue the magazine, which in 2015 also reported that Anbang chairman Wu Xiaohui, who married the granddaughter of former paramount leader Deng Xiaoping, was divorced. Caixin Media said the privately-owned insurer’s allegations were “completely fabricated.”