Dajia Insurance Group, a newly created insurer

ChineA new insurer, Dajia Insurance Group has been created on the Chinese market.

The new entity assumes the portfolio of Anbang Insurance Group Co, controlled by the Chinese government since February 2018 after a fraud case.

Established on the 25th of June 2019, Dajia Insurance is endowed with a capital of 20.4 billion yuan (2.97 billion USD) 98.2% of which is held by the China Insurance Regulatory Commission (CIRC). The latter must leave its shares to one or more individuals within a period of two years starting from the date of Anbang Insurance’s takeover by the State.

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