Wu Xiaohui, CEO and chairman of Chinese insurer Anbang, was taken away by authorities on Friday after months of rumors circulating about him being barred from leaving China, domestic news outlet Caijing.com.cn reported late on Tuesday.
Officials at the China Insurance Regulatory Commission (CIRC) announced the development to a small group of employees of Anbang who were attending a meeting at the insurer's premises on Saturday, according to the report.
The CIRC did not respond to queries from Caijing about the authenticity of this information, and Anbang did not deny it as of press time, Caijing said.
People close to Wu have confirmed that they have not been in direct contact with him since last weekend, the report said.
"It is confirmed that Wu was taken away by relevant authorities previously to assist in their investigations, but he went back to the office quickly," the news outlet said. "At this time, whether it's for a short-term assistance purpose or an upgraded investigation, we will wait for the relevant authorities to disclose information."
The Financial Times newspaper reported earlier this month that Wu had been barred from leaving China, according to four people who had business dealings with him. An Anbang spokesman denied this report on the day of publication, saying it was "just a rumor. It's not true."
The website of Caijing's report cannot be opened as of press time.