China Banking and Insurance Regulatory Commission： Everyone Insurance Group will participate in Anbang restructuring according to law when it is established today.

　　Xinhuanet Beijing, July 11th China Banking and Insurance Regulatory Commission official website reported on the 11th that with the approval of China’s China Banking and Insurance Regulatory Commission, China Insurance Guarantee Fund Co., Ltd., China Petrochemical Corporation and Shanghai Automotive Industry (Group) Corporation jointly set up Everybody Insurance Group Co., Ltd. (hereinafter referred to as Everybody Insurance Group) with a registered capital of 20.36 billion yuan.

　　Everyone Insurance Group will acquire the equity of Anbang Life Insurance, Anbang Pension and Anbang Asset Management in accordance with the law, and set up everyone property insurance to acquire part of the insurance business, assets and liabilities of Anbang Property Insurance in accordance with the law. Anbang Group will do a good job in the redemption of stock policies, fully fulfill its insurance contract obligations, and effectively protect the legitimate rights and interests of insurance consumers and all parties concerned. After the reorganization, Anbang Group will not carry out new insurance business.

　　China Banking and Insurance Regulatory Commission said that the establishment of Everybody Insurance Group marked the initial achievement of Anbang Group’s risk management. During the takeover, Anbang takeover team will promote everyone’s insurance group to participate in the reorganization of Anbang Group according to law, provide a package of security services for health, pension and wealth management for the public based on the main insurance business, actively introduce qualified strategic investors in accordance with the established direction, and effectively protect the legitimate rights and interests of insurance consumers and all parties.