China Reinsurance (Group) Co (China Re) has completed a restructuring, one of the key milestones ahead of an initial public offering (IPO), the central government said.

According a statement posted on the www.gov.cn website, the restructured China Re will have registered capital of 36.15 bln yuan. Central Huijin, the central bank's investment arm, and the Ministry of Finance hold 85.5 pct and 14.5 pct stakes, respectively.

Early this year, Central Huijin approved the injection of 4 bln usd worth of capital into China Re, with the company expected to seek a dual listing in Hong Kong and Shanghai.

China Re has reportedly appointed PricewaterhouseCoopers, China CITIC Securities, China International Capital Corp (CICC) and law firm King & Wood as its advisers for the planned IPO.

The group is expected to acquire 100 pct of its six units.