Ping An Named World’s Most Valuable Insurance Brand for 7th Consecutive Year
HONG KONG
and
SHANGHAI
,
Feb. 2, 2023
/PRNewswire/ — Ping An Insurance (Group) Company 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 year in a row by leading brand valuation consultancy Brand Finance.
Ping An
with a brand value of
US$44.7
billion, ranked 30th among the world’s most valuable brands and 5th among Global Financial Enterprises.
Deepened Finance + Healthcare strategy for steady operating profit growth
In 2022, amid continued turbulence in the global economic environment and recurring COVID cases in
China
,
Ping An
pressed aheadwith
Ping An Life’s
quality-oriented reform and transformation It continued to strengthen the advantages of integrated financial services and built the health maintenance organization “managed care model” to provide customers with a “worry-free, time-saving, and money-saving” experience.
In the first nine months of 2022,
Ping An
delivered a 19.9% annualized operating return on equity (ROE), with operating profit attributable to shareholders of the parent company rising 3.8% year-on-year to
RMB123,288 million
. Net profit attributable to shareholders of the parent company decreased 6.3% year-on-year to
RMB76,463 million
.
Drove high-quality development from reform and innovation
Ping An’s
retail customers increased 2.6% in the first nine months of 2022 to nearly 228 million as of
September 30, 2022
. Contracts per customer grew 1.7% in the 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 profit of the life and health insurance business, to
RMB86,486 million
. Premium income of Ping An Property and Casualty increased 11.4% year-on-year to
RMB222,024 million
while the combined ratio remained healthy at 97.9%.
Ping An Bank
revenue grew 8.7% year-on-year to
RMB138,265 million
and net profit rose 25.8% year-on-year to
RMB36,659 million
.
Advanced healthcare ecosystem strategy to complement the finance business
Ping An
has responded to the “Healthy China” government strategy by establishing a world-leading healthcare services ecosystem. The ecosystem seamlessly combines differentiated healthcare services with financial businesses in which
Ping An
Act as a player to provide “online, in-store, and home-delivered” one-stop healthcare services to customers. As of the end of
September 2022
more than 146 million retail customers had used the services provided by
Ping An’s
healthcare system. Nearly 16.5 million life insurance customers used the “insurance + health management” services, with an overall satisfaction rate of 99%. In
December 2022
,
Ping An
launched a free around-the-clock online consultation service for pandemic prevention, serving 15 local government service platforms and securing pandemic prevention materials and drug supplies, with over 3 million daily consultations on the platform. As of 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 drug delivery in over 150 cities, 24 hour, seven-days-a-week drug delivery services in 80 cities and partnered with over 100,000 health services providers.
Continued to promote sustainability and green finance
Ping An
has integrated the core philosophies and environmental, social and corporate governance (ESG) standards into its corporate management and has taken an active role in realizing sustainability. It was awarded an A in the MSCI ESG Ratings, ranking first in the multi-line insurance & brokerage industry in
Asia Pacific
. As of
September 30, 2022
,
Ping An’s
green investment and financing totaled approximately approx
RMB319
.8 billion, and its green banking business totaled
RMB184.2 billion
. Premium income of environmentally sustainable insurance products totaled approximately approximately
RMB110.5 billion
in the first nine months of 2022.
Ping An
is continuing to innovate in its green finance products and services. In 2022, Ping An Bank launched
China’s
first debit-cum-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 been actively promoting rural revitalization. As of
December 30, 2022
,
Ping An’s
investment in rural revitalization totaled more than
RMB65 billion
.
Ping An
places huge importance on customer-oriented approaches. It is committed to realizing people’s aspirations for a better life and customers’ need for high-quality integrated financial and healthcare services. With these priorities,
Ping An
is achieving long-term, balanced, outstanding and sustainable development of the Group, while creating steadily growing value to customers, employees, shareholders and so on
ciety.
Abo
ut Ping An Group
Ping An Insurance (Group) Company of
China
, Ltd. (”
Ping An
“) strives to become a world-leading retail financial services group. With nearly 228 million retail customers,
Ping An
is one of the largest financial services companies in the world.
Ping An
It advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Company believes “Expertise Creates Value” and “Expertise makes life simple”.
Ping An
It develops the “integrated finance + healthcare” service system and builds the “finance + elderly care” and “finance + healthcare” industry ecosystems to provide professional “financial advisory, family doctor, and elderly care concierge” services. As
China’s
first joint stock insurance company,
Ping An
is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in
Hong Kong
and
Shanghai
.
Ping An
It ranked 17th in the Forbes Global 2000 list in 2022 and ranked 25th in the Fortune Global 500 list in 2022.
For more information, please visit
www.group.pingan.com
and follow us on LinkedIn –
PING AN
.
View original content to download multimedia: https://www.prnewswire.com/news-releases/ping-an-named-worlds-most-valuable-insurance-brand-for-7th-consecutive-year-301737078.html
SOURCE Ping An Insurance (Group) Company of
China
Ltd.