China’s fourth-richest man has been banned from the country’s insurance industry for 10 years, in the most aggressive move yet by regulators to tame borrowing and hostile corporate takeovers by insurers.

中国第四大富豪被禁入保险业10年，这是监管机构在惩戒保险商借款和发起敌意收购方面迄今最严厉的举措。

Yao Zhenhua, chairman of financial conglomerate Baoneng Group, last year launched a high-profile raid on China Vanke, the country’s largest residential developer. He acquired a stake worth 25 per cent, prompting Vanke’s chairman to label Baoneng “barbarians”.

身为金融综合企业宝能集团(Baoneng Group)董事长的姚振华，去年对中国最大的住宅房地产开发商万科(China Vanke)发起了高调的突袭行动。他收购了万科25%的股份，促使万科董事长给宝能贴上“野蛮人”的标签。

Much of the funding for Baoneng’s Vanke stake and other investments came from policies sold by its life insurance unit, Foresea Life Insurance, which Mr Yao also chairs.

宝能买下万科股票的大部分资金以及其他投资，均来自其寿险部门前海人寿(Foresea Life Insurance)出售的保单。姚振华也是前海人寿的董事长。

Foresea quickly scaled the premium rankings of China’s life insurance industry by selling so-called “universal insurance” products, which are essentially wealth management vehicles with a small protection component.

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