Ping An Named World's Most Valuable Insurance Brand for 7th Consecutive Year

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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

was ranked the world’s most valuable insurance brand for the seventh consecutive year by brand valuation consultancy Brand Finance.

Ping An

with a brand value of

$44.7

billion, ranked 30th among the world’s most valuable brands 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

China

,

Ping An

pressed forward with

Ping An Life’s

quality-oriented reform and transformation It continued to strengthen the advantages of integrated financial services and built the “managed care model” of the health maintenance organization to provide customers with a “worry-free, earning” experience. time and money”.

In the first nine months of 2022,

Ping An

delivered an annualized operating return on equity (ROE) of 19.9%, with operating income attributable to parent company shareholders up 3.8% year-on-year to reach

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 increased by 2.6% in the first nine months of 2022 to reach nearly 228 million in

September 30, 2022

. Contracts per customer rose 1.7% year-to-date to 2.96.

Ping a life

continued to advance its “product+channel” reform in the first three quarters of 2022, driving more than 22% year-on-year growth in new business value (NBV) per agent and growth of 17.4 % over one year of operating profit from the personal insurance business,

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

revenue increased 8.7% year-on-year to

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

responded to the government’s “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

act as an actor to provide customers with one-stop health services “online, in-store and delivered to homes”. From the end of

September 2022

more than 146 million retail customers had used the services provided by

Ping An’s

health ecosystem. Nearly 16.5 million life insurance customers have used the “insurance + health management” services, with 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 supplies, with more than 3 million consultations daily on the platform. At the end of 2022,

Ping An’s

The healthcare ecosystem has partnered with over 3,000 hospitals and 208,000 pharmacies to offer one-hour medication delivery to over 150 cities, 24/7 medication delivery services in 80 cities and has partnered with more than 100,000 health service providers.

Continued promotion of sustainability and green finance

Ping An

has integrated fundamental environmental, social and corporate governance (ESG) philosophies and standards into its business 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, 2022

,

Ping 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 in 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

also actively promoted rural revitalization. Of the

December 30, 2022

,

Ping An’s

investments in rural revitalization totaled more than

65 billion RMB

.

Ping An

attaches great importance to 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 sustainable, balanced, exceptional 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)

China

ltd. (”

Ping An

“) aims to become a world 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 activities and improve risk management. The company believes that “expertise creates value” and “expertise makes life simple”.

Ping An

develops the “integrated finance + health” service system and builds the “finance + elderly care” and “finance + health” industrial ecosystems to provide professional services of “financial consulting, family doctor and concierge services to the elderly”. As

China

first stock 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 ranked 25th in the Fortune Global 500 list in 2022.