BYD plans 3 billion yuan capital increase for recently acquired insurance company

Two months after taking over bankrupted E An Property and Casualty Insurance, BYD is planning to increase the registered capital of the company – now BYD Insurance – by 3 billion yuan (US$417.2 million). The capital increase will be funded by BYD Insurance’s parent company BYD Auto. After the capital increase, the company's registered capital will reach 4 billion yuan.