Anbang’s fall raises tough questions for copycat insurers

Anbang’s explosive rise and equally spectacular collapse has left many questions hanging over China’s insurance industry. One of them is how much its failure has wrecked the business plans of its many copycats. The privately held insurer had a simple strategy: offer high-yielding investments packaged as insurance products to raise funds and use them to make acquisitions. It was highly successful; from its founding in 2004 the conglomerate amassed assets worth Rmb2.5 trillion ($396…