Lack of transparency has emerged as a problem for the company. Last year, Anbang withdrew an application for regulatory approval of a purchase of Iowa-based Fidelity & Guaranty Life, according to Reuters, after the New York Department of Financial Services sought more details about the Beijing firm’s funding and shareholder structure – information Anbang was not immediately able to provide. The acquisition of Retirement Concepts, a family-owned business since 1988, gives Anbang an important role in the delivery of health care in British Columbia. Concerns have been raised about what will happen when that slice of B.C.’s health care system passes into foreign control. Retirement Concepts is the province’s highest-billing provider of assisted living and residential care services. The B.C. government paid Retirement Concepts $86.5-million in the 2015-16 fiscal year, more than any other of the 130 similar providers. Retirement Concepts owns and operates about 24 retirement communities, mostly in B.C., except for several properties in Calgary and Montreal. It also owns unused or partly developed land that would allow a major expansion of facilities. The Vancouver firm last fall defended the sale by saying the company’s executive team will operate the retirement-nursing homes on behalf of Anbang. An e-mailed statement from Mr.
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