Anbang Insurance Plans IPO for Life-Insurance Unit

HONG KONG—Anbang Insurance Group Co. plans an initial public offering of its life-insurance unit, a move that could increase disclosure at the opaque Chinese insurer that made an aborted $14 billion bid for Starwood Hotels & Resorts Worldwide Inc. this year.

The Beijing-based insurer in recent weeks has held discussions with investment banks about an IPO of Anbang Life Insurance Co., according to people familiar with the...