Anbang is considering floating its life insurance unit among other assets and has asked banks to pitch for the work, in a deal that suggests the acquisitive Chinese group, which has to date valued its privacy, is preparing to open up in return for capital.

The group, best-known for an abortive bid for Starwood Hotels & Resorts earlier this year, is founded on its insurance business — a model that reflects founder Wu Xiaohui’s admiration for the investing style of Warren Buffett, write Don Weinland and Jennifer Hughes in Hong Kong.

Bankers, who asked not to be identified, said talks were at a very early stage and no decision on structure, listing venue or the size of any deal, had yet been decided.

“They’re looking for comments from banks on these points,” said one.

Pitches are due in by the end of the week, with the company expected to decide on its lead banks in the next fortnight.

Hong Kong, home to China’s biggest insurers including China Life, Ping An and PICC, is thought to be the company’s preference over New York. Anbang declined to comment.

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