There's more to Anbang story than meets the eye

Anbang Insurance Group Co, a little-known Chinese insurer until last year, has gained sudden prominence in the financial and capital markets after a string of high-profile domestic and international acquisitions, raising questions about its shareholders' background and concerns of possible risks behind its aggressive expansion.

The company has been rapidly building a financial empire over the past few years by purchasing stakes of the country's banks, insurers and real estate developers, while extending its reach to financial leasing, asset management and securities brokerages through the operation of its 10 subsidiaries.

Anbang also made international headlines last year by purchasing the landmark Waldorf Astoria hotel in New York at a record price of $1.95 billion before acquiring Belgian insurer Fidea NV and Delta Lloyd Bank Belgium.