Dajia Insurance Group has a registered capital of $2.97 billion.

According to a Chinese government document, Beijing has formed a new company called Dajia Insurance Group in order to take over the assets of Anbang Insurance Group.

According to a document of the National Enterprise Credit Information Publicity System, 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.

The new insurance group has a registered capital of $2.97 billion (20.4 billion yuan).

($1 = 6.8654 Chinese yuan renminbi)

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Tags: Anbang Insurance Group, assets, bad loans, China, China Insurance Securities Fund, China Petrochemical Corp, Chinese, controlling stakeholder, Dajia Insurance Group, debt, debt financing, government document, National Enterprise Credit Information Publicity System, registered capital, Shanghai Automotive Industry Corp, takeover