Chinese entities might sell their stakes in Dajia Insurance Group

Two state-owned entities, China Insurance Security Fund and China Petrochemical consider selling their respective stakes of 98.23% and 0.55% in Dajia Insurance Group. The total amount of the transaction is set at 33.6 billion CNY (5.2 billion USD).

Founded in 2019, Dajia Insurance Group took over the portfolio of Anbang Insurance Group, which has been monitored by the Chinese government since February 2018 following a fraud case.