Reinsurance News

Ping An

Ping An operating profit up 10% in Q1

3rd May 2022

Chinese insurer Ping An has reported a 10.0% increase in operating profit during the first quarter of 2022, following reforms to its Life & Health business, consistent results in Property & Casualty, and growth within its banking and asset management business. The company noted that the Chinese markets proved particularly volatile ... Read the full article

Ping An’s Jessica Tan sees Greater Bay Area opportunity for Hong Kong

10th December 2021

Hong Kong, as an international financial centre, is positioned to play an important role in the building of the Greater Bay Area (GBA), says Jessica Tan, Co-CEO of Ping An Insurance. Tan, speaking last week at Hong Kong Fintech Week, said realising full potential of the GBA, integrating Guangdong, Hong Kong ... Read the full article

Ping An sees net profit fall 20% in first 9 months of 2021

27th October 2021

Ping An saw net profit attributable to shareholders decreased 20.8% year on year to $12.7 billion. Operating profit attributable to shareholders rise 9.2% year on year to $18.5 billion, equivalent to a 20.3% annualised operating ROE in the first nine months of 2021. The Group's assets exceeded $1.5 trillion,approaching $1.8 trillion. Life & ... Read the full article

Ping An net profit rises in Q1

23rd April 2021

Ping An Insurance Company of China has announced its Q1 financial results, showing an increase in net profit by 4.5% year-on-year. Net profit came to RMB 27.233 billion (USD 4.2 billion) for the three-month period, while operating profit increased by 8.9% year on year to RMB 39.120 billion (USD 1.8 million). In ... Read the full article

Zurich adds Ping An to network of insurance providers

23rd April 2021

Zurich Insurance Group has added Ping An Health, a technology-driven health insurance company, to its Zurich Global Employee Benefits Solutions, which provides risk management and financing solutions for the global employee benefit plans of multinationals. The solutions include the group’s own offering and those of selected leading insurers in geographies and ... Read the full article

Covid sees Ping An’s 9M profit sink 20%

29th October 2020

Chinese insurer Ping An saw its net profit in the first nine months of 2020 decrease by 20.5% year on year to $15.3 billion. The company noted that, while traditional offline operations slowly recovered following a more intense period of covid disruption, it remained difficult to hold large-scale offline campaigns. Offline customer meetings ... Read the full article

GlobalData praises Ping An’s proactive COVID-19 response

28th September 2020

Analysts at GlobalData have highlighted Ping An as one of few established insurers to have provided a strong proactive response to the COVID-19 pandemic for its customers. According to GlobalData’s thematic insurance scorecard, the chinese insurer was ranked considerably better than its nearest competitors in the COVID-19 response. The company's score was ... Read the full article

Ping An profits down in H1, but P&C growth stable

28th August 2020

Ping An Insurance (Group) Company of China, Ltd. has reported a 28.2% decrease in net profit over the first half of 2020, partially offset by continued stable growth in its property and casualty (P&C) segment. Net profit came to RMB 75.97 billion (USD 9.07 billion) for the six-month period, while operating ... Read the full article

Ping An to launch joint ventures with Shionogi

29th July 2020

Chinese insurance company, Ping An and Shionogi have signed agreements to launch joint ventures in Shanghai and Hong Kong. These new agreements are designed to enhance health and medical care services in China, in line with Ping An's healthcare ecosystem strategy. Ping An-Shionogi is registered in Shanghai, with a total investment of 2.94 billion ... Read the full article

Ping An notes COVID-19-induced challenges as profit falls by 43% in Q1

23rd April 2020

Ping An Insurance (Group) Company of China, Ltd. has reported that its net profit declined by almost 43% year-on-year in Q1 2020, while operating profit jumped by over 5% as the company adopted numerous measures to mitigate the impacts of the COVID-19 outbreak. Net profit attributable to shareholders of the parent ... Read the full article

Ping An screening system identifies 1,600 coronavirus cases

25th March 2020

Ping An Insurance (Group) Company of China, Ltd. has announced that its smart audio screening system has successfully identified more than 1,600 suspected cases of coronavirus (COVID-19) to date. Launched in February, the system uses artificial intelligence to help doctors more efficiently and accurately diagnose cases of the virus and ... Read the full article

Ping An image-reading system to help diagnose coronavirus

28th February 2020

Ping An Insurance (Group) Company of China, Ltd. has launched a smart image-reading system to help doctors more efficiently and accurately diagnose cases of coronavirus (COVID-19). Developed by Ping An Smart Healthcare, part of subsidiary Ping An Smart City, the system aims to leverage artificial intelligence (AI) to help control the ... Read the full article

Ping An grows profits by 36%, helped by tech investments

21st February 2020

Ping An Insurance (Group) of Company of China, Ltd. has reported 36.5% growth in net profits in 2019, helped by its  technology and data focused transformation strategy. Net profit totalled RMB 164,365 million (US $23.4 billion) for the year, while operating profit similarly rose 18.1% to RMB 132,955 million ($18.9 billion). The ... Read the full article

Ping An pushes for poverty alleviation using insurance at Davos

24th January 2020

Ping An Insurance, China’s largest insurer by market value, has used its platform at the World Economic Forum Annual Meeting 2020 in Davos to advocate for the alleviation of poverty using insurance. The theme of this year’s Davos Forum is ‘Stakeholders for a Cohesive and Sustainable World,’ with poverty alleviation as ... Read the full article

China’s Ping An joins Climate Action 100+ initiative

6th January 2020

Ping An Insurance (Group) Company of China, Ltd. has become the first Chinese asset owner to join Climate Action 100+, an investor initiative that aims to engage the largest corporate greenhouse gas emitters and help them take action on climate change. Currently, more than 420 investors across the world with more ... Read the full article