Wu Xiaohui

Wu Xiaohui
Born	1966 Pingyang County, Wenzhou, Zhejiang, China
Occupation	Entrepreneur
Known for	Chairman and CEO of Anbang Insurance Group

Wu Xiaohui (; born 1966) is a Chinese entrepreneur who formerly held the positions of chairman and CEO at Anbang Insurance Group, which was once among the largest insurance companies in China. In May 2018, he received an 18-year prison sentence following convictions for fraud and embezzlement.

Biography

Born in 1966 in Pingyang County, Wenzhou, located within Zhejiang province, Wu played a pivotal role in Anbang's growth since its establishment in 2004. He elevated the firm from a relatively small insurer into a global investment powerhouse. By mid-2016, Anbang's reported assets reached RMB1.65 trillion (approximately US$253 billion). Wu was recognized for personally handling major negotiations without relying on investment bankers and was described by the Financial Times as the individual responsible for all critical decisions at Anbang.

Investigation and conviction

On 8 June 2017, amid a nationwide crackdown on systemic financial risks, authorities detained Wu Xiaohui, leading to his removal as chairman of Anbang. Regulatory bodies assumed control of the company before initiating legal proceedings against him for fraudulent activities. On 28 March 2018, Wu admitted guilt to charges including raising capital beyond legal limits and appealed for mercy. Subsequently, on 10 May, he was sentenced to 18 years imprisonment for fundraising fraud and embezzlement, with authorities confiscating assets valued at $1.7 billion.

Personal life

Wu was previously married to Zhuo Ran, who is the granddaughter of former Chinese leader Deng Xiaoping; the couple separated in 2015.