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China’s Anbang Faces IPO Spotlight After Quitting Starwood

  • Anbang executive Yao says company wants to be more transparent
  • Anbang unit is planning an initial public offering next year
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Chinese Secretive Insurer in IPO Spotlight

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To understand how an obscure Chinese insurer has been able to fund a $13.5 billion acquisition spree since 2014, look no further than one of its top-selling products, Anbang Longevity Sure Win No. 1.

Offering returns of more than triple the benchmark bank deposit rate, Anbang Insurance Group Co. has used Sure Win No. 1 and similar policies to woo Chinese mom-and-pop investors. Now, the closely held company is mulling a far tougher pitch: Tapping foreign investors with an initial public offering in Hong Kong.