Reinsurance News
Ping An
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
Strong P&C result helps to lift Ping An profits in Q3
24th October 2019
Ping An Insurance (Group) of Company of China, Ltd. has continued to see strong growth in the third quarter of 2019, with net profit up 63.2% to RMB 129,567 million (USD 18.3 billion). The result was helped by the strong performance of Ping An’s property and casualty (P&C) segment, which achieved ... Read the full article
China’s Ping An to develop nationwide ‘innovation platform’, reports
30th August 2019
Ping An Insurance, China’s largest insurer by market value, has been selected by the country’s Ministry of Science and Technology to build a nationwide innovation platform to help bolster the development of Artificial Intelligence, according to reports from China Daily. The National Open Innovation Platform for Next Generation Artificial Intelligence will ... Read the full article
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