In 2015, Chinese insurers made more than 10 noteworthy deals. Here are a few that you should pay attention too. On March 14, 2016, a consortium led by Anbang made an offer to acquire Starwood Hotels for US$12.8 billion, outbidding Marriott’s offer of US$11.7 billion in November 2015. On March 31, Anbang Insurance Group walked way from its proposed offer, ending the three-week bidding war. Starwood’s share price declined 4% in after-hours trading. Anbang is the most active and has made five out of the top ten deals since 2015. In 2015, the company acquired Waldorf Astoria in New York for US$2.0 billion and, only two weeks ago, agreed to buy Strategic Hotels & Resorts for US$6.5.
Source: S&P Global Market Intelligence
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