A halt — or extended pause — has come to the slew of high-profile overseas property acquisitions made in recent years by Beijing-based Anbang Insurance Group Co. Amid a broad investigation into the insurer’s operational practices, chairman Wu Xiaohui was detained and temporarily stepped down as chairman of the company in June. In addition, authorities have asked Chinese banks to suspend business dealings with Anbang, according to news reports.

Wu raised his and the insurer’s global profile with Anbang’s 2015 acquisition of New York City’s landmark Waldorf Astoria Hotel for US$1.95 billion, and the 2016 US$6.5 billion purchase of Blackstone’s Strategic Hotels & Resorts portfolio of 16 luxury hotels across the United States. The insurer also made headlines last year in a bidding war with Marriott International to acquire Starwood Hotels & Resorts Worldwide, with Anbang eventually walking away from its US$14 billion bid.

“Wu masterminded the explos