Anbang

The move indicates growing tensions between the families of Xi Jinping and former leader Deng Xiaoping.

Beijing’s recent decision to crack down on activities of Chinese insurance companies could push insurers toward riskier asset investments and create a liquidity crunch within the industry.

Beijing cracked down on domestic insurers last week, suppressing the industry over what it called reckless investing practices and driving down the Shanghai Composite Index 3 percent.

Anbang’s exit from Starwood Hotels bidding raises questions over its business model and standing with Chinese regulators.

Starwood Hotels & Resorts Worldwide, Inc. announced that it received a revised binding offer from the consortium led by Anbang Insurance Group.