Anbang is a Chinese insurance company founded in 2004. It gained international attention for its rapid expansion and aggressive acquisition strategy, including the purchase of the Waldorf Astoria hotel in New York City in 2014. The company primarily offers life insurance, property insurance, and health insurance products. In 2017, Anbang faced scrutiny from the Chinese government due to its high-profile investments and financial practices. The government intervened, leading to the company's restructuring and eventual takeover by state authorities in 2020. This move aimed to stabilize the company and protect policyholders amid concerns about its financial health.