Anbang is one of the largest insurance groups in China, opened its first branch in 2004 and now has 3,000 branches in 31 provinces around China, serving more than 35 million clients.
In recent years, Anbang has been on a buying spree, acquiring–among other things–the Waldorf Astoria New York hotel for $1.95 billion last year as well as insurance companies in South Korea, Belgium and the Netherlands. Anbang also has agreed to buy U.S. insurer Fidelity & Guaranty Life for $1.57 billion and, on Sunday, a portfolio of U.S. luxury hotels in a deal valued by some media outlets at $6.5 billion.
source: http://blogs.wsj.com/briefly/2016/03/14/what-is-anbang-insurance-the-short-answer/
