BEIJING (Reuters) - China has formed a new company called Dajia Insurance Group to take over the assets of Anbang Insurance Group, a government document showed.
China Insurance Securities Fund, the controlling stakeholder of Anbang currently, owns 98.2% of Dajia Insurance, while Shanghai Automotive Industry Corp holds 1.2%, and China Petrochemical Corp the rest, a document of the National Enterprise Credit Information Publicity System showed.
The new insurance group has a registered capital of 20.4 billion yuan ($2.97 billion), the document showed.
($1 = 6.8654 Chinese yuan renminbi)
Reporting by Beijing Monitoring Desk, Cheng Leng and Ryan Woo; Editing by Muralikumar Anantharaman