July 11, 2019 / 1:34 AM / 6 days ago

China's Dajia Insurance to take over part of Anbang's assets: regulator

FILE PHOTO: People enter the office of Anbang Insurance Group in Beijing, China, February 23, 2018. REUTERS/Thomas Peter

BEIJING/SHANGHAI (Reuters) - China’s Dajia Insurance Group will set up a property and casualty unit to take over part of Anbang Insurance’s assets, the country’s regulator said on Thursday.

The China Banking and Insurance Regulatory Commission published the statement on its official website.

Reporting by Lusha Zhang and Cheng Leng in Beijing and Engen Tham in Shanghai; Editing by Jacqueline Wong

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