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Anbang Insurance to cut registered capital by a third

Posted On: Apr. 19, 2019 3:05 AM CST

Decreased capital investment

China-based Anbang Insurance Group Co. Ltd. plans to cut its registered capital by nearly one-third to 41.5 billion Chinese yuan ($6.2 billion) from CNY 62 billion to curb financial risks, Reuters reported. The Chinese government is looking to restructure the debt-laden insurer's activities after taking over its operations in February 2018.

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