Anbang Insurance Group, known for its aborted attempt to buy Starwood Hotels & Resorts Worldwide in March, is turning its attention from chasing deals to digesting $13.5 billion of overseas acquisitions announced since 2014. The company will focus on integrating purchases such as South Korea’s Tongyang Life Insurance, Vice Chairman Yao Dafeng said, according to Bloomberg. While Yao said Anbang will still continue to seek acquisitions, mostly insurers and banks, his comments suggest a deal spree that included buying New York’s iconic Waldorf Astoria Hotel and mounting a $14 billion bid for Starwood might abate. The insurer, which has amassed assets across the US, Europe and Asia, is now preparing an initial public offering in Hong Kong of its life insurance operations.
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