Investors cut asking price by 10% to sell Dajia Insurance

Two state investors China Insurance Security Fund Co. Ltd. and China Petrochemical Corporation have made a third attempt to sell a 98.8% stake in Chinese insurer Dajia Insurance Group Co. by reducing the asking price by 10%, Asia Insurance Review reported. Dajia, which was created to manage the operations of now-defunct Anbang Insurance Group Co., is now up for sale for 30.12 billion Chinese yuan ($4.66 billion).