Anbang hits regulatory hurdle in FGL acquisition

Chinese insurer Anbang Insurance Group has withdrawn its request
for US regulatory approval of its pending acquisition of life
insurer Fidelity & Guaranty Life (FGL).
In a 31 May filing to the US Securities and Exchange Commission
(SEC), FGL said Anbang plans to refile its insurance regulatory
change of control application for the merger with the New York
Department of Financial Services.
Anbang withdrew the original application on 27 May.
The development will delay the completion of Anbang'