HONG KONG and SHANGHAI, February 2, 2023 /PRNewswire/ — Ping An Insurance Company (Group) of China, Ltd. (“Ping An” or the “Group”, HKEx: 2318; SSE: 601318) announced that Ping An has been ranked the world’s most valuable insurance brand for the seventh consecutive year by leading valuation consultancy Brand Finance brand. Ping An, with a brand value of $44.7 billion, ranked 30th among the most valuable brands in the world and 5th among Global Financial Companies.
Deepening of the Finance + Health strategy for steady growth in operating profit
In 2022, amid continued turmoil in the global economic environment and recurring cases of COVID in ChinaPing An has continued the quality-oriented reform and transformation of Ping An Life. He continued to reinforce the benefits of integrated financial services and built the health maintenance organization’s “managed care model” to provide customers with a “worry-free, time-saving, and hands-on experience.” saving money”.
In the first nine months of 2022, Ping An delivered an annualized operating return on equity (ROE) of 19.9%, with operating profit attributable to parent shareholders up 3.8% from year after year to achieve 123,288 million RMB. Net income attributable to parent company shareholders decreased 6.3% year-on-year to 76,463 million RMB.
Stimulating high-quality development through reform and innovation
Ping An’s retail customers grew 2.6% in the first nine months of 2022 to nearly 228 million as of September 30, 2022. Contracts per customer rose 1.7% year-to-date to 2.96. Ping An Life continued to advance its “product + channel” reform in the first three quarters of 2022, resulting in more than 22% year-on-year growth in new business value (NBV) per agent and 17. 4% year-on-year growth in operating income from the personal insurance business, at 86,486 million RMB. Ping An Damage’s revenue increased 11.4% year-on-year to reach 222,024 million RMB while the combined ratio remained healthy at 97.9%. Ping An Bank’s revenue grew 8.7% year-on-year for 138,265 million RMB and net profit increased 25.8% year-on-year to reach 36,659 million RMB.
Advanced Healthcare Ecosystem Strategy to Complement Financial Business
Ping An has responded to the government’s “A Healthy China” strategy by establishing a world-leading health service ecosystem. The ecosystem seamlessly combines differentiated health services with financial activities in which Ping An acts as a player to provide customers with one-stop “online, in-store and home delivery” health services. From the end of September 2022, more than 146 million retail customers had used the services provided by Ping An’s healthcare ecosystem. an overall satisfaction rate of 99%. In December 2022, Ping An launched a 24-hour free online consultation service for pandemic prevention, serving 15 local government service platforms and securing pandemic prevention materials and drug supply, with more than 3 million daily consultations on the platform. By the end of 2022, Ping An’s healthcare ecosystem has partnered with over 3,000 hospitals and 208,000 pharmacies to offer one-hour drug delivery to over 150 cities, medicines 24/7 in 80 cities and in partnership with more than 100,000 health service providers.
Continued promotion of sustainability and green finance
Ping An has integrated environmental, social and corporate governance (ESG) core philosophies and standards into its corporate management and has played an active role in achieving sustainability. It received an A in the MSCI ESG ratings, ranking first in the insurance and multi-line brokerage sector in Asia Pacific. Of the September 30, 2022Ping An’s green investments and financing totaled approximately 319 RMB.8 billion, and its green banking business totaled 184.2 billion RMB. Premium income from environmentally sustainable insurance products amounts to approx. 110.5 billion RMB in the first nine months of 2022.
Ping An continues to innovate its green finance products and services. In 2022, Ping An Bank launched China first debit-credit carbon account, Low Carbon Home and Ping An P&C was the first in the insurance industry to provide “Land + Ocean” carbon sink insurance services. Ping An has also actively promoted rural revitalization. Of the December 30, 2022Ping An’s investment in rural revitalization has totaled more than 65 billion RMB.
Ping An places great importance on customer-oriented approaches. It is committed to fulfilling people’s aspirations for a better life and clients’ needs for high quality integrated financial and health services. With these priorities, Ping An achieves long-term, balanced, outstanding and sustainable development of the Group, while creating ever-increasing value for customers, employees, shareholders, etc.company.
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Ping An Insurance Company (Group) of China, Ltd. (“Ping An”) strives to become a global leader in retail financial services. With nearly 228 million retail customers, Ping An is one of the largest financial services companies in the world. Ping An advances intelligent digital transformation and uses technologies to improve the quality and efficiency of its financial operations and improve risk management. The company believes that “expertise creates value” and “expertise makes life simple”. Ping An develops the “integrated finance + health care” service system and builds the “finance + elder care” and “finance + health care” industrial ecosystems to provide professional services of “financial consulting, family doctor and elderly care concierge. As China The premier equity insurance company, Ping An is committed to the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchange in hong kong and Shanghai. Ping An ranked 17th in the Forbes Global 2000 list in 2022 and 25th in the Fortune Global 500 list in 2022.
For more information, please visit www.group.pingan.com and follow us on LinkedIn – PINGAN.
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