Hubbry Logo
Ping An InsurancePing An InsuranceMain
Open search
Ping An Insurance
Community hub
Ping An Insurance
logo
8 pages, 0 posts
0 subscribers
Be the first to start a discussion here.
Be the first to start a discussion here.
Ping An Insurance
Ping An Insurance
Ping An Insurance
View on Wikipedia
from Wikipedia

Ping An Insurance known also as Ping An of China (simplified Chinese: 中国平安; traditional Chinese: 中國平安; pinyin: Zhōngguó Píng Ān), full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese financial services holding company whose subsidiaries provide insurance, banking, asset management, financial services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well". It is ranked as China's 6th largest company.

Key Information

In 2024, Ping An ranked 29th on the Forbes Global 2000 list and 53rd on the Fortune Global 500 list.[3] Ping An has been ranked by Brand Finance as the world's most valuable insurance brand for six years running.[4]

Ping An Insurance is one of the top 50 companies in the Shanghai Stock Exchange. It is also a constituent stock of Hang Seng Index, an index of the top companies in the Hong Kong Stock Exchange. Ping An Insurance was also included in the pan-China stock indices CSI 300 Index,[5] FTSE China A50 Index[6] and Hang Seng China 50 Index.[7]

Business

[edit]

Ping An Insurance Group started off in 1988 as a property and casualty insurance company, later diversifying into insurance, banking, asset management, financial services and healthcare services.[8]

Ping An has licenses to offer financial services, including insurance, banking, trusts, securities, futures and financial leasing.[9]

Ping An has also adopted an integrated financial model on a mix of business lines, including life insurance, P&C insurance, banking and securities.[10] The company invests 1% of its revenues into R&D each year to branch out its businesses, adopt technology and support the building of its healthcare and senior care ecosystem.[11]

Since the mid-1990s, Ping An has been subsequently taken investments from overseas firms such as Morgan Stanley and Goldman Sachs in 1994. In 2002 HSBC took a large equity interest in Ping An.[12] In early 2008, Ping An agreed to take a 50% share in Fortis Investments, a subsidiary of Fortis,[13] which had taken over ABN AMRO Asset Management as a result of the split up of ABN AMRO in late 2007; the deal was canceled in October 2008.[14]

In June 2009, Ping An became a strategic investor in Shenzhen Development Bank[15] (now part of Ping An Bank).

In 2012, the company created Ping An Ventures, a $150M VC fund which invested in over 100 companies, such as Didi Chuxing, Hycor Biomedical, Meituan, Oscar Health, Payoneer, Taulia, and others.[16][17] In 2014, together with SBT Venture Capital Ping An led a $27M funding round for eToro.[18]

In 2016, Ping An Healthcare and Technology (Ping An Good Doctor) completed a Series A funding round of a total of US$500 million, making its valuation hit US$3 billion. Ping An also bought a 48% stake in Chinese car website Autohome Inc. from Telstra Corp. for $1.6 billion.[19]

In February 2018, three technology subsidiaries of Ping An completed private placement financing, which received positive responses particularly from international institutional investors. They were Ping An Healthcare and Technology Company Limited, Ping An Medical and Healthcare Management Co., Ltd and OneConnect Financial Technology Co., LTD.[20]

In June 2019, Ping An One Connect Bank officially commenced operation after receiving a virtual banking license from the Hong Kong Monetary Authority in May 2019. In December 2019, OneConnect Financial Technology was listed on the New York Stock Exchange.[21]

In 2019, Ping An became the first insurance company from mainland China to be selected for the Dow Jones Sustainability Emerging Markets Index (DJSI).[22]

In October 2020, Lufax, one of China's leading online wealth management platform, listed on the New York Stock Exchange.[23]

In May 2021, Ping An released the Ping An Zhen Yi Nian healthcare brand. The product line was mainly targeted at supporting urban elderly care communities, and integrates corporate finance, medical care and health technology.[24]

In July 2021, Ping An and Shionogi signed agreements to launch joint ventures in Shanghai and Hong Kong. Ping An-Shionogi is a Healthcare as a Service (HaaS) enterprise, an integrated medical and healthcare platform for public health and patients. The joint venture is a collaboration between the Ping An and Shionogi on drug research, development, production and sales.[25]

In October 2021, Ping An Bank rolled out services under the Cross-boundary Wealth Management Connect pilot scheme.[26]

In January 2022, Ping An Life (a subsidiary of Ping An) received approval from the CBIRC for its investment in New Founder Group.[27]

In July 2022, OneConnect (Ping An's fintech subsidiary) listed on the main board of the Hong Kong Stock Exchange by way of introduction and dual-primary listing.[28]

In February 2023, Ping An Bank Hong Kong Branch was granted an insurance agency license by the Hong Kong Insurance Authority.[29]

In November 2023, it was entered into the MSCI KLD 400 Social Index.[30]

As of 30 June 2024, Ping An has grown its health ecosystem in China by partnering with the country’s top 100 hospitals and 3A hospitals, 50,000 in-house and contracted external doctors and 233,000 pharmacies.[31] Ping An's home-based senior care services covered 64 cities across China with over 120,000 customers entitled to the benefits.[32] Customer's entitled to service benefits in the healthcare and elderlycare ecosystem accounted for over 68% of Ping An Life's new business value in 2024.[33]

In February 2025, Ping An Healthcare and Technology announced that its artificial intelligence model and its platform designed for doctors now have built in access to DeepSeek's model. Ping An said access to DeepSeek's model will help to further enhance its medical services by assisting doctors in making more accurate diagnoses and providing personalized health management. Ping An Healthcare and Technology is undergoing further research and development of AI technology.[34]

Ownership

[edit]

Ping An is a publicly listed company.[35]

As of 30 June 2024, CP Group Ltd. indirectly held 964,427,077 H shares of the Company, representing approximately 5.30% of the total share capital of the Company.

Ping An has the classification of a civilian-run enterprise. Richard McGregor, author of The Party: The Secret World of China's Communist Rulers,[36] said that "the true ownership of large chunks of its shares remains unclear" and that the ownership of Ping An is a "murky structure".[37] In October 2012, The New York Times reported that relatives and associates of Chinese Premier Wen Jiabao controlled stakes in Ping An worth at least US$2.2 billion in 2007.[38]

Markets

[edit]

Since 24 June 2004 Ping An has been listed on the Stock Exchange of Hong Kong (subsidiary of Hong Kong Exchanges and Clearing) as SEHK: 2318. Since 1 March 2007, it has a listing on the Shanghai Stock Exchange as SSE: 601318. Since 19 June 2023, its yuan-denominated shares has a listing on the Stock Exchange of Hong Kong as SEHK: 82318.

Ping An replaced Anhui Expressway in the Hang Seng China Enterprises Index (HSCEI) in 2004.[39]

The Hang Seng Index Services Company announced on 11 May 2007, that Ping An would join as Hang Seng Index Constituent Stock effective on 4 June 2007.[40]

Operations

[edit]

Ping An has operations across all of mainland China, and in Hong Kong and Macau through Ping An Insurance Overseas. Lufax, OneConnect and Ping An Good Doctor have now expanded overseas. OneConnect serves 100+ customers in 20 countries and regions mainly in Southeast Asia.

See also

[edit]

Notes

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Ping An Insurance

View on Grokipedia
from Grokipedia
Ping An Insurance (Group) Company of China, Ltd. is a Shenzhen-headquartered multinational conglomerate providing integrated financial services, including property and casualty insurance, life insurance, banking, asset management, and technology-enabled health and senior care solutions.
Established on May 27, 1988, as China's inaugural joint-stock insurance enterprise, it originated with property and casualty coverage before expanding into life insurance in the early 1990s and forming its group structure in 2003, with dual listings on the Hong Kong Stock Exchange in 2004 and Shanghai Stock Exchange in 2007.
By 2024, the group managed total assets exceeding $1.8 trillion, generated revenue of approximately $159 billion, and reported net profits of $17.5 billion, while serving more than 230 million retail customers through platforms blending finance with ecosystems in healthcare, automotive, and real estate services.
Ping An pioneered fintech integration in insurance, launching super-app platforms and spin-offs that achieved unicorn status, though it has faced regulatory probes, such as a 2021 investigation into property sector investments amid China's real estate downturn.
With a dispersed ownership structure lacking a controlling shareholder and approximately 57% held by retail investors, the firm ranks among the largest global insurers by assets and market capitalization of around $140 billion.

History

Founding and Early Development (1988–1999)

Ping An Insurance Company of China, Ltd. was established on May 27, 1988, in Shekou, Shenzhen, as the first joint-stock insurance company in mainland China, marking a shift from the state-dominated insurance sector amid post-reform economic liberalization. Founded by Ma Mingzhe (also known as Peter Ma), the company began with registered capital of RMB 42 million, primarily focused on property, transport freight, and liability insurance products. Initial shareholders included Shekou Social Insurance Company with 51% ownership and China Merchants Bank Shenzhen Trust Company with 49%, reflecting early ties to state-linked entities while introducing a shareholding structure novel in China's planned economy context. Operations started modestly from a 200-square-meter office on Zhaoshang Road, with a small staff actively soliciting business via bicycles to meet an initial premium target of RMB 5 million annually, amid public unfamiliarity with commercial insurance. In its formative years, Ping An faced operational challenges in a market transitioning from state monopolies but pursued aggressive expansion. By , it adopted the "Based in , reaching to the rest of ," extending operations beyond to build a nationwide presence. Shareholder base grew to five by 1992, incorporating China Ocean Shipping (Group) Company, Shenzhen Finance Bureau, and an employee stock fund, which supported further development; that year, on , the company was renamed Ping An Insurance Company of , gaining national insurer status. To professionalize management, Ma recruited executives from and , importing Western-style practices in a sector previously reliant on bureaucratic models. Key innovations and diversification occurred mid-decade, diversifying beyond non-life insurance. In May 1994, Ping An pioneered China's individual marketing system, issuing its first such policy for RMB 160,000 to a printing firm executive. That June, foreign investment arrived with and acquiring stakes, making Ping An the first Chinese financial firm with shareholders and signaling international credibility. In October 1995, it established Ping An Securities Co., Ltd., venturing into non-insurance finance. By April 1996, acquisition of ICBC Financial Trust Joint Company and its rebranding as Ping An Trust & Investment expanded capabilities, laying groundwork for integrated before the . These steps positioned Ping An as an of market-oriented reforms in China's insurance industry by 1999.

Domestic Expansion and Listing (2000–2009)

During the early 2000s, Ping An Insurance consolidated its operations across China by unifying underwriting and claims services at the provincial level and consolidating databases from 2000 to 2003, enabling more efficient nationwide service delivery. This built on its prior expansion into life insurance, positioning it as one of China's most profitable insurers by 2000 after 12 years of operations. By the mid-2000s, the company had grown into one of China's largest providers of both life and property-casualty insurance, supported by rapid premium income increases amid rising domestic demand for financial products. In February 2003, Ping An restructured as Ping An Insurance (Group) Company of , Ltd., marking a shift toward integrated that included alongside emerging banking and investment activities, all targeted at the . That December, it received regulatory approval to acquire Fujian Asia Bank, initiating its entry into commercial banking within . Foreign investment bolstered this phase; in October 2002, HSBC acquired a significant stake, becoming Ping An's largest shareholder and providing capital and expertise for further domestic scaling. The group's capital base expanded dramatically through public listings. On June 24, 2004, Ping An listed H-shares on the in the largest IPO in that year, comprising 1.32 billion shares in an international offering and 69 million for public investors, raising funds primarily for mainland operations. This was followed by an A-share listing on the on March 1, 2007, which was the world's largest IPO for an insurance company at the time, further enabling domestic investments. By 2006, Ping An launched Asia's largest national integrated operations center in Shanghai's Zhangjiang district in May, streamlining back-office functions for its expanding Chinese footprint. That July, it acquired Shenzhen Commercial Bank and renamed it , deepening its integrated financial presence in key domestic regions. These moves, coupled with sustained premium growth—such as a 37.1% year-on-year increase to 33.49 billion yuan in early 2009—reflected robust domestic and operational efficiencies amid China's economic expansion. In June 2009, Ping An became a strategic in Shenzhen Development Bank, enhancing its banking synergies within the mainland financial ecosystem. Overall, employee numbers surged from modest levels in 2000 to around 130,000 by the decade's end, underscoring the scale of its domestic workforce and branch network buildup.

Diversification into Fintech and Global Reach (2010–Present)

During the 2010s, Ping An Insurance accelerated its diversification into fintech by developing internal technologies and spinning off dedicated platforms to integrate financial services with digital innovation. In 2011, the company launched Lufax, an online marketplace initially focused on peer-to-peer lending and later expanding into wealth management and consumer finance facilitation. By 2015, Ping An established OneConnect as a fintech spinoff to commercialize its proprietary technology solutions for banks and insurers, emphasizing cloud-based platforms for risk management and operations. Concurrently, in 2014, Ping An founded Ping An Good Doctor (now Ping An Healthcare and Technology), an online healthcare platform that app-launched in April 2015 to connect users with medical consultations and services, bridging fintech with health ecosystems. These ventures supported Ping An's broader strategy of building an "integrated finance + ecosystem" model, with cumulative tech R&D investments projected at $15 billion over the subsequent decade from 2018. The growth of these platforms accelerated through listings and expanded offerings. Lufax completed an on the in October 2020, raising $2.36 billion at a valuation reflecting its scale in retail credit and services rooted in Ping An's earlier consumer loan operations dating to 2005. OneConnect similarly went public on the in 2019, enabling it to scale technology-as-a-service exports. Ping An Good Doctor listed on the in 2018, following a $500 million funding round in 2016 that valued it highly amid China's boom. By 2018, these efforts had amassed nearly 500 million online users across 11 digital platforms spanning , healthcare, and beyond, prioritizing efficiency gains and data-driven risk controls over traditional models. Ping An also led in global patents, topping rankings from 2021 to 2024 with applications focused on AI, , and digital healthcare innovations. Global reach materialized primarily through OneConnect's technology exports and targeted investment funds rather than direct overseas insurance underwriting. OneConnect established a regional headquarters in 2018, serving over 50 clients in and beyond by 2020, and expanded to more than 20 countries by 2024, including partnerships like a 2020 AI-cloud deal with for European motor claims processing. In 2017, Ping An launched Global Voyager, an investment arm with a $1 billion commitment to back growth-stage and healthtech firms internationally, followed by the 2021 initial close of the $475 million Voyager Partners fund targeting similar sectors. These initiatives secured over RMB 200 million in overseas deals by mid-2025, emphasizing and venture stakes in regions like and over physical expansion of core operations. This approach leveraged Ping An's domestic scale—serving 242 million primarily Chinese customers—to project influence abroad via scalable digital tools, though international remained subordinate to China-centric activities.

Corporate Structure and Ownership

Ownership Composition

Ping An Insurance (Group) Company of China, Ltd. maintains a dispersed ownership structure characterized by no single controlling shareholder or controlling party, reflecting its status as a mixed-ownership enterprise dually listed on the (A shares) and the (H shares). This structure promotes a broad base of institutional and individual investors, with significant portions held through nominees representing public beneficial owners. As of December 31, 2024, only two entities held 5% or more of the total equity interest: CP Group Ltd., a Thai conglomerate controlled by the Charoen family, indirectly owning 5.3% through 964,427,077 H shares; and Shenzhen Investment Holdings Co., Ltd., a state-owned firm affiliated with the municipal government, holding 5.29% via 962,719,102 A shares. Securities Clearing Company Nominees Limited, acting as custodian for numerous H-share beneficial owners, accounted for 38.26% of outstanding H shares (6,966,685,599 shares), underscoring the high degree of in the international .
ShareholderShare TypeNumber of SharesPercentage of Total Equity
CP Group Ltd. (indirect)H shares964,427,0775.3%
Investment Holdings Co., Ltd.A shares962,719,1025.29%
The absence of a dominant owner aligns with Ping An's evolution from early state-linked foundations to a more privatized model post-IPO, though state entities like Investment retain meaningful stakes that may influence strategic decisions without conferring outright control. Other institutional holders, such as China Securities Finance Corp. Ltd. and foreign funds like , Inc., hold positions below the 5% threshold, further diluting concentration.

Governance and Political Ties

Ping An Insurance (Group) Company of China, Ltd. maintains a comprising 15 members, selected for expertise in , , technology, and , with Ma Mingzhe serving as chairman since 2013. The board oversees strategic direction, , and compliance, supported by specialized committees including , remuneration, nomination, and strategy, ensuring accountability to shareholders while integrating practices aligned with listing requirements. Recent appointments in October 2025 to the 13th board session included independent non-executive directors such as Hong Xiaoyuan and Song Liping, emphasizing professional diversity. The company's governance incorporates a (CCP) committee, with the chairman concurrently holding the role of party secretary, embedding party oversight into decision-making processes as required for major Chinese firms. This structure reflects the standard integration of CCP organs in large enterprises, where party committees influence strategic alignment with national policies. Ownership includes significant state influence, with the State-Owned Assets Supervision and Administration Commission holding approximately 11.34% of shares as of recent filings, alongside major institutional holders like Securities Clearing nominees. Political ties extend to regulatory favoritism and directives; for instance, in , Ping An received a from foreign ownership limits in its bank unit, coinciding with benefits to relatives of then-Premier , who held substantial stakes. More recently, in November 2023, Chinese authorities directed Ping An to consider acquiring a controlling stake in the distressed developer , illustrating state leverage over corporate actions despite Ping An's private-sector status. Academic analyses identify Ping An as among China's most politically connected firms, with multiple board members linked to government entities, facilitating access to policy advantages but exposing it to central directives. These connections underscore how, in China's state-business nexus, firms like Ping An balance commercial operations with alignment to CCP priorities, including initiatives.

Business Segments

Insurance Core

Ping An's insurance operations form the bedrock of the group's financial services, encompassing life insurance, health insurance, pension products, and property and casualty (P&C) coverage, primarily serving customers in mainland China. The life insurance segment offers whole life policies, term life, universal life, annuities, and endowment plans, often bundled with health and critical illness riders to address rising demand for long-term protection amid China's aging population. In 2024, the value of new business (VNB) for life and health insurance increased by 28.8% year-over-year, reflecting robust sales through a network of over 2 million agents and digital channels. The P&C segment, Ping An's original business line since 1988, dominates with auto insurance accounting for the majority of premiums, alongside property damage, engineering, liability, credit, and accident coverage. In 2024, P&C insurance revenue reached RMB 328.146 billion, up 4.7% from the prior year, driven by steady auto premium growth of approximately 3-4% amid competitive pricing pressures in China's vehicle market. The segment's net profit surged 67.7% to contribute significantly to group earnings, supported by an improved combined ratio of 98.3%, indicating better underwriting discipline despite claims from natural disasters and economic volatility. Ping An P&C holds the position of China's second-largest provider by , consistently around 20% since 2009, leveraging scale in auto lines where it processes millions of annually via integrated claims systems. operations, through subsidiaries like Ping An Life, rank among the top in premium , benefiting from persistency rates above industry averages due to strategies. Overall, insurance premiums and fees constituted the largest revenue contributor to the group's RMB 1,141.3 billion total in under IFRS, underscoring the segment's resilience amid diversification into .

Banking and Asset Management

Ping An Bank Co., Ltd., a wholly-owned of , operates as a nationwide joint-stock headquartered in , providing comprehensive services in corporate banking, , markets, and . Established to support the group's diversification into full-service financial offerings, the emphasizes integrated , delivering tailored products to over 70 million customers through synergies with Ping An's and ecosystems. As one of the three core pillars of the Ping An Group—alongside and — contributes to the conglomerate's strategy of creating value through cross-segment collaboration, with a focus on and digital innovation in lending and deposits. In January 2025, S&P Global Ratings affirmed Ping An Bank's long-term issuer credit rating at 'BBB+' with a stable outlook and short-term rating at 'A-2', citing its pivotal role in the parent company's well-rounded financial services provision despite challenges in the Chinese banking sector such as regulatory pressures and economic slowdowns. The bank's asset quality and capitalization have been maintained through proactive provisioning and capital supplementation from the group, enabling it to navigate property sector exposures and support small and medium-sized enterprise financing, which constitute a significant portion of its loan portfolio. Ping An's activities are primarily conducted through Ping An Co., Ltd. (PAAMC), recognized as China's largest non-state-owned and a key pillar within the group. PAAMC oversees totaling RMB 4.37 trillion as of the end of 2023, securing the second position among Chinese and 36th globally in the Top 500 ranking; by mid-2024, it advanced to 33rd worldwide, reflecting growth in alternative and fixed-income strategies amid volatile markets. The division's operations span economic and , with investments across equities, funds, , and other , integrated into Ping An's broader that includes trust services via Ping An Trust, securities brokerage through Ping An Securities, and financing leasing under Ping An Financial Leasing. This structure facilitates efficient capital allocation and risk diversification, with PAAMC leveraging group-wide data analytics to optimize returns for institutional and retail clients, though performance has been influenced by domestic regulatory tightening on shadow banking and products.

Technology and Healthcare Ventures

Ping An Insurance has developed a portfolio of technology subsidiaries and affiliates that leverage AI, big data, and cloud platforms to support its financial services and extend into adjacent sectors. OneConnect Financial Technology Co., Ltd., established in December 2015 as a spinoff, provides cloud-based fintech solutions including digital banking, anti-fraud systems, and risk management tools powered by AI and big data analytics, serving over 5,000 financial institutions globally as of 2023. However, in July 2024, OneConnect was compelled to shutter its core cloud business, which primarily served Ping An Group and affiliates, amid regulatory pressures and dependency risks, shifting focus to specialized areas like digital auto and life insurance tech. In July 2025, OneConnect secured overseas contracts exceeding RMB 200 million, integrating AI-driven auto insurance and vehicle finance solutions. Ping An Technology (Shenzhen) Co., Ltd. supports internal through enterprise IT services, cybersecurity, and , contributing to the group's broader ecosystem of 11 incubated tech affiliates spanning , healthcare, and applications. In 2025, Ping An advanced generative AI initiatives across subsidiaries, applying models for in and , building on over 30 years of accumulation from its 230 million customers. These efforts emphasize causal linkages between inputs and outcomes, such as using behavioral and health metrics to refine models, though scalability depends on amid China's regulatory scrutiny of AI in . In healthcare, Ping An Good Doctor (formerly Ping An Healthcare and Technology Company Limited, stock code: 1833.HK) operates as the flagship platform, delivering online consultations, managed care, family doctor memberships, and O2O services to over 400 million registered users as of 2025. Rebranded to Ping An Good Doctor in June 2025, it integrates AI for triaging millions of daily consultations, achieving a 137% interim profit surge in the first half of 2025 through synergies with Ping An's insurance arm, including instant claims processing via the "one-minute clinic" model. The platform reported its first full-year profit in 2024, driven by AI-enhanced diagnostics and big data for personalized care, with expansions into senior care targeting China's aging population via the "silver economy" strategy. This model fuses insurance coverage with preventive health services, evidenced by reduced claims leakage through predictive health interventions, though outcomes hinge on empirical validation of AI accuracy in diverse patient cohorts.

Financial Performance

Ping An Insurance (Group) Company of , Ltd. exhibited steady growth from RMB 8,223 billion in 2019 to RMB 11,583 billion in 2023, supported by expansions in premiums and banking operations, though tempered by economic headwinds and volatility in . Net profit attributable to shareholders peaked at RMB 149 billion in 2019 amid favorable market conditions but declined to RMB 86 billion in 2023 due to lower returns and higher claims ratios in and casualty segments. In , under IFRS standards rose 10.6% year-over-year to RMB 1,141 billion, with operating profit attributable to shareholders increasing 9.1% to RMB 122 billion, reflecting improved and a rebound in net profit to RMB 127 billion, up 47.8% from 2023. Key metrics highlight the company's scale in , where property and casualty premiums grew 3.9% to RMB 162 billion in the first half of 2024 alone, contributing to a combined ratio of approximately 100.7% in recent years, indicative of balanced discipline. Life and new business value surged 36.2% in 2023 to RMB 31 billion (like-for-like basis), underscoring demand for health-related products amid China's aging . Total assets expanded to exceed RMB 12 by 2024, driven by under management reaching RMB 5.0 in 2023 and banking loans growing to RMB 3.3 .
YearRevenue (RMB billion)Net Profit Attributable to Shareholders (RMB billion)Insurance Revenue (RMB billion)
20198,223149Not specified
20209,528143Not specified
202110,142102Not specified
202211,010111526
202311,58386536
20241,141 (IFRS)127Not fully reported
Return on equity averaged around 10-12% in recent years, with solvency ratios maintained above regulatory requirements, signaling financial resilience despite exposure to domestic and equity markets. Earlier decades saw compound annual growth rates exceeding 20% in premiums from the early 2000s listings on (1994) and (2007) exchanges, establishing Ping An as China's second-largest insurer by premiums written.

Recent Results and Challenges (2020–2025)

During the in 2020, Ping An Insurance experienced increased claims payouts in its life and segments, contributing to a 4.2% year-on-year decline in net profit attributable to shareholders to RMB 143,099 million, despite a 4.9% rise in operating profit to RMB 157,802 million driven by resilient premium and returns. for the year reached approximately USD 159.49 billion, reflecting modest 4.19% growth amid lockdowns and economic disruptions in . The company's and casualty (P&C) insurance business faced heightened claims from pandemic-related interruptions, though digital platforms helped sustain and new business acquisition. Post-2020 recovery was uneven; peaked at USD 163.67 billion in (+2.62% year-on-year) before contracting sharply to USD 129.28 billion in 2022 (-21.01%) and USD 113.34 billion in 2023 (-12.33%), attributed to lapping high bases from pandemic-era demand and broader economic slowdowns in . Net profit followed suit, declining 20.96% to USD 12.449 billion in 2022. By 2024, signs of stabilization emerged with rebounding to RMB 1,141,346 million (approximately USD 160 billion, +10.6% year-on-year) and net profit surging 48% year-on-year, bolstered by a 5.8% comprehensive yield on funds (up 2.2 percentage points) and growth in P&C premiums. In the first half of 2025, operating profit attributable to shareholders rose 3.7% to RMB 77.7 billion, with life and new business value (NBV) jumping 39.8% year-on-year, though net profit fell 8.8% to RMB 68.05 billion amid volatile equity markets and asset reallocations.
YearRevenue (USD Billion)Net Profit (USD Billion, approx.)Key Notes
2020159.49~20.7 (RMB 143B)COVID claims pressure; operating profit +4.9%
2021163.67Higher basePeak amid recovery
2022129.2812.45 (-21%)Sharp contraction; net profit decline
2023113.34LowerContinued drop
2024~160+48% YoY yield improvement; profit rebound
Major challenges included heavy exposure to China's sector, which triggered regulatory ; in 2021, authorities probed Ping An's investments, ordering curbs on certain products amid Beijing's crackdown on developer financing. This culminated in April 2024 when subsidiary Ping An Trust delayed repayments on products linked to distressed assets like , citing market downturns and liquidity strains from the ongoing crisis. Such exposures amplified risks, contributing to pressures and concerns over non-performing assets. Additionally, macroeconomic headwinds like low rates and subdued post-COVID hampered banking and segments, with Ping An Bank reporting a 3.9% net profit drop in H1 2025 due to strategic shifts away from low-yield assets. Regulatory demands for and "common prosperity" policies further constrained aggressive expansion in and alternative investments. Despite these, Ping An maintained a core tier-1 of 9.33% as of September 2024, signaling resilience in core operations.

Innovations and Technology

Fintech Platforms and Subsidiaries

Ping An Insurance has developed a suite of platforms and subsidiaries as part of its "finance + technology" strategy, aiming to provide digital solutions for , including banking, lending, and payments. These entities leverage AI, , and to serve both domestic and international markets, with Co., Ltd. serving as a core provider of technology-as-a-service to financial institutions. Established as an associate of Ping An Group, OneConnect focuses on for banks and insurers, offering platforms for credit assessment, , and through its Gamma Lab initiative. Lufax Holding Ltd., another key subsidiary, operates an for and personal loans, connecting retail investors with borrowing opportunities via and asset-backed securities. By 2019, Lufax had grown into one of China's top platforms, facilitating billions in transaction volumes through mobile apps and data-driven matching algorithms. In November 2023, Lufax acquired Ping An OneConnect Bank, a Hong Kong-based virtual bank launched in 2020 that specializes in rapid SME lending, approving loans within five business days using automated risk models integrated with Ping An's ecosystem. Additional fintech efforts include One Transact, a digital payment service partnering with platforms like Tenpay and to enable seamless transactions across Ping An's financial products. These subsidiaries contributed to Ping An's broader tech ecosystem, with international expansions such as OneConnect securing over RMB 200 million in overseas deals by July 2025, focusing on software in . However, challenges emerged, including OneConnect's decision in July 2024 to shutter its cloud business reliant on parent-group clients amid regulatory pressures and market shifts.

AI, Big Data, and Digital Ecosystem Integration

Ping An Insurance has integrated (AI), , and digital ecosystems as core components of its "finance + technology" strategy, initiated in following a "technology-driven " approach launched in 2013. This framework leverages a 15-year technology foundation, including 3.2 trillion tokens of , to enable real-time processing of behavioral, , and data from over 240 million retail customers. The company's ecosystem spans insurance, banking, , and subsidiaries like OneConnect and Ping An , supported by Ping An Cloud for scalable solutions and for secure data handling. AI applications focus on operational efficiency and , such as the "111 Fast Claim" service in property and , which processes 93% of policies in seconds with an average claim settlement time of 7.4 minutes, achieving 95% accuracy in damage assessments via image recognition. Generative AI tools, including the agent productivity enhancer "AskBob" and open-source models like DeepSeek deployed in February 2025, automate , fraud detection—saving billions annually—and personalized recommendations by integrating wearables and . In healthcare, AI-driven diagnostics via the Ping An Medical Master exceed 90% accuracy in analysis, facilitating faster consultations and tailored plans. Big data analytics underpin knowledge graphs for smart risk assessment and customer profiling, as seen in the Jin Guan Jia app, which uses facial recognition and multi-source data to streamline and claims. This data-centric approach has driven a 47.8% year-on-year net profit increase in , amid total revenue of RMB 1.14 trillion, reflecting a 15.6% over two decades. Ping An's innovation is bolstered by over 3,000 scientists, 21,000 developers, and 53,521 applications as of September , including 1,564 in generative AI—ranking second globally per the . The digital ecosystem emphasizes interconnected platforms, such as OneConnect's dual-engine system for and lending, enabling cross-sector data interchange partnerships like with FWD under the Hong Kong Monetary Authority's initiatives. In July 2025, Ping An appointed Ray Wang as to accelerate this integration, focusing on large language models with open-source platforms to enhance digital operations across business, management, and services. These efforts align with broader investments, including $2.8 billion in ICT spending in 2023, prioritizing AI, cloud, and for ecosystem-wide .

Operations and Markets

Domestic Operations in China

Ping An Insurance (Group) Company of China, Ltd. was established on March 21, 1988, in , Province, as the first joint-stock company in the , initially specializing in property and casualty . Over the subsequent decades, it evolved into a comprehensive provider, integrating with banking and through domestic subsidiaries. By 2024, its core operations in generated significant premiums, with Ping An Property & Casualty reporting service of RMB 328.1 billion, maintaining dominance in motor while expanding non-motor lines. The company's arm, Ping An Life Insurance, focuses on individual and group policies, including , whole life, and products tailored to China's aging and rising middle-class for financial protection. Ping An Annuity Insurance and Ping An Health Insurance complement this by offering retirement solutions and medical coverage, respectively, with the latter emphasizing digital health services amid China's push for universal healthcare access. These subsidiaries operate nationwide, supported by a distribution network exceeding 2,200 sub-branches for property and casualty alone, enabling broad in urban and rural areas. In banking, Co., Ltd., a key pillar of the group, provides retail, corporate, and wealth management services primarily within , leveraging synergies with insurance operations to cross-sell products to over 200 million customers as of recent reports. This integrated model, often termed "financial ," has driven domestic growth, with the group's new business value surging 39.8% year-over-year in the first half of 2025, reflecting resilience in 's competitive financial sector despite economic headwinds. Operations adhere to regulations from the National Financial Regulatory Administration, emphasizing prudent in asset allocation and compliance.

International Expansion and Partnerships

China Ping An Insurance Overseas (Holdings) Limited, a wholly-owned established to manage the group's offshore investments, focuses on , , and consulting in international markets. This arm closed its third in October 2024 with $850 million in commitments from global investors led by AlpInvest Partners and Capital Partners, targeting opportunities primarily in Western markets to circumvent regulatory constraints on Chinese capital outflows. The structured secondary transaction seeded the fund with assets sourced from Ping An's , building on a similar $875 million deal in 2020 involving and GIC. In healthcare services, Ping An has forged partnerships with more than 1,000 overseas medical institutions spanning 16 countries, enabling cross-border access to specialized treatments and supporting its "integrated + healthcare" model as of data. These collaborations align with investments totaling approximately 48.2 billion yuan in health-related ventures that year, though operational scale remains oriented toward domestic integration rather than standalone foreign entities. Direct insurance expansion abroad has been limited, with a strategic pause following the acquisition of Fortis's Asian and European assets, after which Ping An redirected resources to amid post-financial crisis challenges. More recently, as of March 2025, Ping An signaled plans to grow offerings in —targeting services—through potential new licenses, joint ventures, or buyouts, leveraging the region's role as a gateway for outbound activities. In September 2025, Ping An's insurance unit partnered with PAObank to enhance digital on the 5th anniversary of the latter's launch, illustrating incremental cross-border synergies within . Overall, Ping An's global footprint emphasizes passive investment vehicles and selective alliances over aggressive operational buildup, reflecting regulatory hurdles and a core focus on 's retail financial ecosystem.

Controversies and Criticisms

Regulatory Scrutiny and CCP Influence

Ping An Insurance, classified as a civilian-run enterprise, maintains internal (CCP) organizations, including party committees, which ensure alignment with national policies and priorities as mandated for major Chinese firms. These structures, common in large corporations, facilitate the CCP's influence over , strategic decisions, and , reflecting the broader integration of party oversight in 's to advance state objectives such as and technological . Historical reports have highlighted indirect benefits to CCP leaders' families through investments in Ping An, including stakes linked to former Wen Jiabao's relatives, raising questions about in regulatory approvals that favored the company's expansion. Regulatory scrutiny of Ping An primarily emanates from Chinese authorities, exemplified by the China Banking and Insurance Regulatory Commission's (CBIRC) 2021 investigation into the company's property sector investments amid a broader crackdown on exposures. The probe led to directives halting sales of certain products tied to property developers, though Ping An maintained its holdings remained below regulatory limits of 45% of total assets. In 2023, reports surfaced of pressure on Ping An to assume a controlling stake in the debt-laden developer to mitigate systemic risks, a request the company publicly denied receiving. Such interventions underscore the CCP's role in directing financial institutions to support state bailouts and sector stabilization, often blurring lines between commercial autonomy and political imperatives. Internationally, Ping An's CCP affiliations have prompted concerns among partners, notably in its capacity as HSBC's largest shareholder, where joint ventures like Securities faced questions over party influence potentially compromising operational independence and . In response to heightened geopolitical tensions, Ping An launched an $850 million fund in October 2024 targeted at Western markets to circumvent tightening inbound and outbound investment regulations imposed by . These dynamics illustrate how CCP oversight, while enabling domestic growth, exposes Ping An to reputational risks and compliance challenges abroad, particularly regarding adherence to foreign sanctions and reviews.

Financial Risks and Exposures

Ping An Insurance's investment portfolio is exposed to substantial risks from the Chinese sector, where investments through funds totaled 209.4 billion yuan (approximately $28.64 billion) as of November 2023, representing about 4.5% of total investments, down from 5.5% at the end of amid regulatory curbs and market downturns. The ongoing has amplified these vulnerabilities, with a delayed repayment on a trust product in 2024 signaling persistent stress, despite the amount being relatively small compared to the company's scale. Provisions and writedowns over prior years have reduced -related risk exposure to a "very controllable range" by early 2025, though heightened risks and defaults in -linked assets persist. Market and price risks further challenge the insurer's returns, as fluctuations in equity and markets directly impact the value of its financial instruments and insurance contracts. Stock holdings in the investment portfolios of major Chinese insurers, including Ping An, rose to around 12.2% by late 2023, increasing vulnerability to volatility amid the hunt for yield in a low-interest-rate environment. This materialized in the first half of 2025, when net profit declined 8.8% year-over-year due to swings and subdued rates during China's economic slowdown, prompting cautious expansion into high-yield tech stocks while monitoring liquidity-driven rallies. Credit risks are elevated, particularly in debt schemes, wealth management products, and sectors with high default probabilities, such as those tied to financing. The company's overall exposure to high-risk assets remains notable, exacerbated by low rates that compress margins and amplify defaults, though diversification into fixed-income and liquid assets mitigates some debt-related market risks. pressures could intensify if economic headwinds persist, as volatility and regulatory changes influence asset liquidity and funding costs. Despite these exposures, agencies like AM Best and S&P have affirmed strong ratings for Ping An entities in 2025, citing stable balance sheets but underscoring ongoing monitoring of investment and dynamics.

Achievements and Impact

Economic Contributions and Brand Recognition

Ping An Insurance (Group) Company of China, Ltd. reported of RMB 1,141 billion (approximately USD 158 billion) in 2024, reflecting a 10.6% year-on-year increase, underscoring its substantial scale in . The group's total assets stood at approximately USD 1.8 trillion at year-end, positioning it as one of 's largest financial conglomerates and a key player in channeling capital into the domestic economy through premiums, investments, and banking operations. As of December 31, 2024, Ping An's cumulative investments supporting 's reached nearly RMB 10.14 trillion, funding infrastructure, technology, and other sectors via its and arms. The company employs 273,053 people as of the end of 2024, contributing to job creation primarily in Shenzhen and across China, with a focus on financial, technology, and health services roles. These operations generate indirect economic multipliers through supply chains, vendor payments, and policyholder payouts, though precise GDP attribution remains challenging due to intertwined state-private dynamics in China's financial sector; empirical estimates from firm disclosures highlight its role in stabilizing household savings and enabling long-term capital allocation amid demographic shifts like aging populations. Net profit attributable to shareholders surged 47.8% to RMB 126.6 billion (USD 17.5 billion) in 2024, bolstering fiscal revenues via corporate taxes, though specific tax contribution figures for the year are not publicly detailed in recent filings. In brand recognition, Ping An has maintained the position of the world's most valuable insurance brand for the ninth consecutive year according to Brand Finance, with a 2025 valuation of USD 33.6 billion, driven by strong performance in and integration. It ranked first among global insurance companies in BrandZ's 2025 most valuable brands list, exceeding USD 26.3 billion in value, reflecting consumer trust in its diversified ecosystem. The group placed 47th on the 2025 list—its 16th consecutive appearance—with USD 158.6 billion in revenue, and 27th on ' 2025 Global 2000, based on composite metrics of sales, profits, assets, and market value. These rankings, derived from independent audits and market data, affirm Ping An's global stature despite operating predominantly in .

Societal and Industry Influence

Ping An has undertaken various initiatives aligned with 's national strategies, including support for "Healthy " and environmental conservation. In October 2023, the company established 's first dedicated to mangrove ecosystem conservation, providing perpetual funding for protection, restoration projects, and ecological corridors for waterbirds. Its 2024 sustainability report highlighted advancements in public welfare over 30 years and rural health programs, delivering over RMB 52 billion in aid and services to communities. By mid-2023, Ping An's green investments in insurance funds reached RMB 140.929 billion, with green loan balances at RMB 134.926 billion, contributing to ESG disclosure standards in 's insurance sector. In August 2024, Ping An led the release of a report on and , outlining practices for insurers to integrate resilience into operations amid rising environmental risks. These efforts earned recognition, such as the CSR Initiative of the Year award from InsuranceAsia News in 2023 for integrating with disaster prevention. Since 2014, Ping An has invested up to RMB 10 billion annually in R&D for its and senior care ecosystem, shifting focus from compensation to prevention to address demographic challenges like aging populations. Within the insurance industry, Ping An has exerted significant influence through its "finance + technology" model, pioneering insurtech integrations that extend beyond traditional boundaries. In November 2024, Fortune ranked it first in insurtech innovation in , crediting its digital platforms and AI-driven solutions across , healthcare, and ecosystems. The company launched unicorn-status spin-offs and introduced innovations like bovine facial recognition for agricultural claims, enabling farmers to verify via mobile apps and reducing . By 2023, its approach fostered continuous , influencing peers to adopt platform-based models that blur lines between , banking, and tech services. In March 2025, Ping An advanced generative AI applications to enhance operations in and healthcare, setting benchmarks for efficiency and scalability in the sector.

References

  1. https://group.pingan.com/about_us.html
  2. https://group.pingan.com/about_us/history.html
  3. https://www.forbes.com/companies/ping-an-insurance/
  4. https://www.macrotrends.net/stocks/charts/PNGAY/ping-an-insurance-of-china/revenue
  5. https://www.reuters.com/business/finance/chinas-ping-an-insurance-posts-48-rise-2024-profit-2025-03-19/
  6. https://www.economist.com/finance-and-economics/2020/12/03/how-ping-an-an-insurer-became-a-fintech-super-app
  7. https://www.reuters.com/business/exclusive-china-regulator-probes-ping-an-insurances-property-investments-sources-2021-08-30/
  8. https://group.pingan.com/investor_relations/major_shareholders.html
  9. https://www.moomoo.com/news/post/46842755/retail-investors-who-own-57-along-with-institutions-invested-in
  10. https://companiesmarketcap.com/insurance/largest-insurance-companies-by-market-cap/
  11. https://group.pingan.com/media/perspectives/Chinas-First-Joint-Stock-Insurance-Company.html
  12. https://www.institutionalinvestor.com/article/2bsvvadlh6f3ixokatpfk/portfolio/inside-ping-ans-massive-expansion
  13. https://www.goldmansachs.com/our-firm/history/moments/1994-ping-an
  14. https://www.atlas-mag.net/en/category/tags/focus/ping-an-insurance-group-story
  15. https://www.atlas-mag.net/en/category/tags/focus/ping-an-group-structure
  16. https://www.atlas-mag.net/en/article/ping-an-insurance-group-the-chinese-giants-story
  17. http://www.chinadaily.com.cn/english/home/2004-06/15/content_339453.htm
  18. https://www.reuters.com/article/pingan-premiums-china-idUKPEK1932620090324/
  19. https://medium.com/sfiacorporation/ping-an-digital-transformation-canvas-e8e3db84b75d
  20. https://www.imd.org/research-knowledge/finance/case-studies/ping-an-how-a-chinese-insurance-firm-became-a-tech-giant-b/
  21. https://www.crunchbase.com/organization/ping-an-good-doctor
  22. https://www.cnbc.com/2018/11/08/ping-an-technology-ceo-expects-exponential-growth-in-fintech.html
  23. https://www.reuters.com/world/asia-pacific/chinas-lufax-falls-14-new-york-debut-after-236-bln-ipo-2020-10-30/
  24. https://equalocean.com/analysis/2022021417019
  25. https://www.reuters.com/article/business/chinas-ping-an-to-launch-first-overseas-fintech-and-healthcare-fund-of-1-billi-idUSKBN1800N3/
  26. https://www.mckinsey.com/featured-insights/china/building-a-tech-enabled-ecosystem-an-interview-with-ping-ans-jessica-tan
  27. https://group.pingan.com/media/news/2025/pingan-tops-global-patentee-top-10-list-leading-in-fintech-and-healthcare.html
  28. https://www.retailbankerinternational.com/news/ping-an-insurances-fintech-platform-oneconnect-launches-in-malaysia/
  29. https://www.swissre.com/reinsurance/market-announcement-swiss-re-ping-an-oneconnect-partner-offer-ai-cloud-solutions-european-motor-claims.html
  30. https://sloveniatimes.com/41523/oneconnect-releases-q3-2024-results-with-net-profit-attributable-to-parent-company-reaching-rmb110-million
  31. https://group.pingan.com/media/news/News-2021/Ping-An-completes-USD200-million-first-close-of-Voyager-Partners-fintech-and-digital-health-fund.html
  32. https://www.prnewswire.com/apac/news-releases/oneconnect-signs-over-rmb-200-million-in-overseas-deals-boosting-global-growth-through-ping-ans-integrated-finance-synergy-302510547.html
  33. https://group.pingan.com/about_us/our_businesses.html
  34. https://www.marketscreener.com/quote/stock/PING-AN-INSURANCE-GROUP-C-6499513/company/
  35. https://www.investing.com/equities/ping-an-insurance-company-of-china-ownership
  36. https://group.pingan.com/about_us/governance.html
  37. https://finance.yahoo.com/news/ping-wins-sixth-director-award-025600987.html
  38. https://www.marketscreener.com/quote/stock/PING-AN-INSURANCE-GROUP-C-687809/company-governance/
  39. https://www.tipranks.com/news/company-announcements/ping-an-insurance-announces-new-board-composition
  40. https://www.tipranks.com/news/company-announcements/ping-an-insurance-announces-new-board-appointments
  41. https://login.bizkonnect.com/orgchart/ping-an
  42. https://www.nytimes.com/2012/11/25/business/chinese-insurers-regulatory-win-benefits-a-leaders-family.html
  43. https://www.reuters.com/world/china/china-authorities-ask-ping-an-take-controlling-stake-country-garden-sources-say-2023-11-08/
  44. https://scholar.harvard.edu/files/yuhuawang/files/beyond_local_protectionism_0.pdf
  45. https://journals.aom.org/doi/10.5465/amp.2011.0153
  46. https://www.jstor.org/stable/24742730
  47. https://group.pingan.com/about_us/our_businesses/insurance.html
  48. https://www.bloomberg.com/profile/company/8096838Z:CH
  49. https://fintechnews.hk/32923/insurtech/ping-an-insurance-achieves-a-47-8-rise-profit-2024/
  50. https://www.reinsurancene.ws/ping-an-pcs-net-profit-swells-67-7-in-2024/
  51. https://news.ambest.com/newscontent.aspx?refnum=266124&altsrc=23
  52. https://group.pingan.com/resource/pingan/IR-Docs/2025/pingan-ar24-presentation.pdf
  53. https://bank.pingan.com/about/en/index.shtml
  54. http://bank.pingan.com/aboutpingan/en/index.shtml
  55. https://www.spglobal.com/ratings/en/regulatory/article/-/view/sourceId/13388948
  56. https://www.prnewswire.com/news-releases/ping-an-asset-management-no36-in-top-500-asset-managers-2023-301868713.html
  57. https://www.prnewswire.com/news-releases/ping-an-asset-management-up-to-no-33-in-top-500-asset-managers-2024-302182960.html
  58. https://asset.pingan.com/en/index.shtml
  59. https://group.pingan.com/about_us/our_businesses/asset-management.html
  60. https://doc.irasia.com/listco/hk/pingan/announcement/a314368-e_02318ann_20250425%2820250424_1549%29.pdf
  61. https://www.bloomberg.com/profile/company/1064929D:CH
  62. https://www.ocft.com/en/en_about/en_aboutus/index.html
  63. https://kapronasia.com/insight/blogs/banking-research/asia-banking-research/an-overview-of-pingan-s-oneconnect
  64. https://thebambooworks.com/oneconnect-in-forced-divorce-from-parent-ping-an/
  65. https://group.pingan.com/
  66. https://group.pingan.com/media/perspectives/2025/driving-innovation-with-generative-ai.html
  67. https://www.youtube.com/watch?v=17JjLHRm1ZI
  68. https://www.pagd.net/allPage/aboutUs/47?lang=EN_US
  69. https://www.prnewswire.com/news-releases/ping-an-good-doctor-revamps-brand-and-launches-annual-healthcare-service-brand-302478956.html
  70. https://www.ainvest.com/news/ping-healthcare-137-profit-surge-strategic-breakthrough-integrated-finance-ai-driven-health-ecosystems-2508/
  71. https://www.pagd.net/allPage/sustainableDevelopment/article/101000?lang=EN_US
  72. https://fortune.com/asia/article/ping-an-insurance-china-silver-economy-michael-guo-ai-elderly/
  73. https://group.pingan.com/about_us/our_businesses/health-and-senior-care.html
  74. https://www.insurancebusinessmag.com/asia/news/life-insurance/ping-an-healthcare-leverages-ai-to-manage-millions-of-consultations-547179.aspx
  75. https://group.pingan.com/resource/pingan/IR-Docs/2024/pingan-ar23-report.pdf
  76. https://www.prnewswire.com/apac/news-releases/ping-an-reports-stable-growth-in-operating-profit-attributable-to-shareholders-of-the-parent-company-in-2024--net-profit-attributable-to-shareholders-of-the-parent-company-surges-47-8-yoy-302405930.html
  77. https://group.pingan.com/resource/pingan/IR-Docs/2024/pingan-interim24-results.pdf
  78. https://group.pingan.com/media/news/2024/pingan-ranked-29th-in-forbes-global-2000-2024.html
  79. https://finance.yahoo.com/quote/2318.HK/key-statistics/
  80. https://www.prnewswire.com/news-releases/ping-an-reports-steady-yoy-growth-of-4-9-in-operating-profit-attributable-to-shareholders-of-the-parent-company-in-2020--301221311.html
  81. https://companiesmarketcap.com/ping-an-insurance/revenue/
  82. https://group.pingan.com/resource/pingan/IR-Docs/2020/pingan-ar20-report.pdf
  83. https://www.macrotrends.net/stocks/charts/PNGAY/ping-an-insurance-of-china/net-income
  84. https://finance.yahoo.com/news/ping-reports-stable-growth-operating-135700122.html
  85. https://www.stocktitan.net/news/PNGAY/ping-an-reports-stable-growth-in-operating-profit-attributable-to-x2ozj1tyesa5.html
  86. https://kr-asia.com/ping-ans-equity-spree-faces-investor-doubts-as-profits-fall
  87. https://finance.yahoo.com/news/ping-trust-delays-repayment-citing-124309243.html
  88. https://www.bloomberg.com/news/articles/2024-04-11/ping-an-s-delayed-trust-repayment-shows-lingering-property-woes
  89. https://www.ainvest.com/news/ping-bank-h1-net-profit-decline-strategic-inflection-point-structural-challenge-2508/
  90. https://www.reuters.com/world/china/china-property-rescue-who-are-ping-an-insurance-group-country-garden-2023-11-08/
  91. https://group.pingan.com/resource/pingan/IR-Docs/2024/pingan-3q24-results-report.pdf
  92. https://www.ocft.com/en/
  93. https://www.forrester.com/blogs/how-ping-an-insurance-embraced-digital-to-rewrite-its-business/
  94. https://finance.yahoo.com/news/ping-backed-lufax-acquire-hong-093000790.html
  95. https://group.pingan.com/media/perspectives/Virtual-Bank-Ping-An-OneConnect-Offers-Fast-and-Flexible-Loans-to-SMEs.html
  96. https://www.statista.com/topics/8234/ping-an-group/
  97. https://sponsored.bloomberg.com/article/ping-an/technology-empowered-growth-at-ping-an
  98. https://www.globaldata.com/store/report/ping-an-insurance-enterprise-tech-analysis/
  99. https://group.pingan.com/media/news/2025/Ping-An-Appoints-AI-Expert-Ray-Wang-as-Chief-Technology-Officer-to-Accelerate-Comprehensive-Digital-Transformation.html
  100. https://icisa.org/member/ping-an-property-and-casualty-insurance-company-of-china-ltd/
  101. https://group.pingan.com/media/news/2025/25-interim-results.html
  102. https://overseas.pingan.com.hk/en/
  103. https://www.prnewswire.com/news-releases/china-ping-an-insurance-overseas-holdings-limited-raised-fund-of-usd-850-million-for-overseas-private-equity-investing-302280227.html
  104. https://www.secondariesinvestor.com/alpinvest-and-montana-lead-ping-ans-latest-secondaries-deal-to-seed-new-fund/
  105. https://www.montana-capital-partners.eu/articles/mcp-leads-structured-secondary-transaction-with-ping-an/
  106. https://group.pingan.com/media/perspectives/An-emerging-Health-Management-Organization-in-China.html
  107. https://www.hbs.edu/faculty/Pages/item.aspx?num=40589
  108. https://www.scmp.com/business/markets/article/3303504/ping-eyes-life-insurance-expansion-hong-kong-retirement-services-ceo
  109. https://www.asiainsurancereview.com/News/View-NewsLetter-Article?id=92914&Type=eDaily
  110. https://www.spglobal.com/market-intelligence/en/news-insights/articles/2024/12/ping-an-s-850m-fund-for-western-markets-to-navigate-tightening-regulations-86417448
  111. https://www.swissre.com/dam/jcr:4e236d6d-8142-441a-b682-ba9f0a8580ae/chinese_ins_market_feb2018_en.pdf
  112. https://www.nytimes.com/2012/10/26/business/global/family-of-wen-jiabao-holds-a-hidden-fortune-in-china.html
  113. https://www.cnbc.com/2021/08/31/china-regulator-probes-ping-an-insurances-property-investments.html
  114. https://www.reuters.com/article/business/banking-business-leaves-ping-an-exposed-to-china-market-turmoil-idUSBRE96B04J/
  115. https://www.thetimes.com/world/asia/article/hsbc-plays-down-chinese-communist-party-influence-at-qianhai-securities-swc3ckn2q
  116. https://uk.finance.yahoo.com/news/banking-hsbc-china-uk-usa-trade-war-122203126.html
  117. https://seekingalpha.com/article/4650718-ping-an-insurance-consider-both-short-term-risks-and-long-term-potential
  118. https://www.insurancejournal.com/news/international/2024/04/11/769210.htm
  119. https://www.bloomberg.com/news/articles/2025-03-19/ping-an-profit-misses-estimates-dented-by-china-slowdown
  120. https://doc.irasia.com/listco/hk/pingan/announcement/a322524-ehir25060006_e_ping%2Ban%2Binsurance_ir25%280313%29f.pdf
  121. https://www.spglobal.com/market-intelligence/en/news-insights/research/top-chinese-insurers-grow-vulnerable-to-investment-risks-amid-hunt-for-yield
  122. https://www.bloomberg.com/news/articles/2025-08-26/ping-an-profit-falls-as-slowdown-market-volatility-hurt-returns
  123. https://www.reuters.com/markets/asia/chinas-ping-an-insurance-eyes-more-investment-high-yield-high-tech-stocks-ceo-2025-08-26/
  124. https://group.pingan.com/resource/pingan/IR-Docs/2025/pingan-ar24-solvency-report.pdf
  125. https://group.pingan.com/media/news/2025/pingan-ar24-press-release.html
  126. https://group.pingan.com/media/news/2025/pingan-releases-2024-sustainability-report.html
  127. https://finance.yahoo.com/news/ping-wants-turn-china-demographic-091500584.html
  128. https://group.pingan.com/media/news/2025/pingan-no-1-in-brand-finances-global-insurance-brand-value-for-9th-year.html
  129. https://www.prnewswire.com/apac/news-releases/ping-an-1-in-brand-value-among-global-insurance-companies-in-brandz-2025-ranking-302457660.html
  130. https://group.pingan.com/media/news/2025/Ping-An-Ranks-47th-on-2025-Fortune-Global-500-List--Marking-16th-Year-on-List.html
  131. https://insuranceasia.com/insurance/news/ping-ranks-fifth-amongst-chinese-firms-list
  132. https://brandfinance.com/press-releases/ping-an-insurance-is-the-worlds-most-valuable-insurance-brand-for-ninth-consecutive-year
  133. https://group.pingan.com/media/news/2023/pingan-establishes-chinas-first-charitable-trust-for-mangrove-ecosystem-conservation-to-promote-sustainable-development.html
  134. https://www.insurancebusinessmag.com/asia/news/environmental/ping-an-outlines-advances-in-education-finance-green-goals-531318.aspx
  135. https://globalfintechseries.com/insurtech/the-first-esg-disclosure-guidance-for-chinas-insurance-industry-released-with-significant-contributions-from-ping-an/
  136. https://regional.chinadaily.com.cn/en/2024-08/16/c_1013538.htm
  137. https://www.techdogs.com/tech-news/pr-newswire/ping-an-awarded-csr-initiative-of-the-year-by-insuranceasia-news
  138. https://partners.wsj.com/ping-an/senior-care/chinas-largest-insurer-embraces-prevention-over-compensation/?gaa_at=eafs&gaa_n=AWEtsqfhmf8g39-2PlLT9dhiGU2m0z8x6HqlK-Ed_-HPo2QNxpGdgRKnQdcA&gaa_ts=68fe308a&gaa_sig=dUN2QuUtWRgjp9XwH3E44BPV3QUKnbrcLpKOOmewJfWWAHhoPp0mKnPEvfTYfRGrqz8qcCcpneK8AXdSCKT_Gw%253D%253D
  139. https://group.pingan.com/media/news/2024/pingan-takes-lead-in-fortune-fintech-innovator-asia-list-ranked-1st-in-insurtech.html
  140. https://www.imd.org/news/digital/updates-how-ping-an-went-from-a-traditional-insurer-to-become-a-tech-giant/
  141. https://www.lifeinsuranceinternational.com/analyst-comment/ping-an-rewards-innovating-key-insurance-industry-themes/
  142. https://isg-one.com/articles/a-wake-up-call-from-the-far-east-platform-ecosystems-in-the-insurance-industry
Add your contribution
Related Hubs
User Avatar
No comments yet.