PingAn

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Ping An Insurance
Public
Traded asSSE:601318 (A share)
SEHK:2318 (H share)
IndustryFinancial Services
Founded1988; 34 years ago (1988)
FounderMa Mingzhe
Headquarters,
China
Area served
Worldwide
Key people
Ma Mingzhe (Chairman), Xie Yonglin (President & Co-CEO), Tan Sin Yin (Co-CEO), Yao Jason Bo (Co-CEO & Chief Financial Officer)
Services
  • Insurance
  • Banking
  • Asset Management
  • Financial Services
  • Healthcare
  • Auto Services
  • Smart City
RevenueIncrease CN¥687,788 Million (1H2021)
Increase CN¥78,821 Million (1H2021)
Increase CN¥58,005 Million (1H2021)
Total assetsIncrease CN¥98,876,888 Million (1H2021)
Total equityIncrease CN¥1,028,914 Million (1H2021)
OwnerCP Group Ltd. (7.85%)
Shenzhen Investment Holdings Co., Ltd.(5.27%)
Number of employees
Approx. 362,035
Websitewww.group.pingan.com

Ping An Insurance, also known as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd., is a Chinese holding conglomerate whose subsidiaries mainly deal with insurance, banking, asset management, financial services, healthcare, auto services and smartcity. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".

Ping An ranked 7th on the Forbes Global 2000 list and 21st on the Fortune Global 500 list.[1]

Profile[change | change source]

The company is considered to be China's biggest insurer, with US$110 billion in net premiums written in 2019.[2] Its market capitalization is at US$217 billion in March 2021, making it the largest insurer in Asia-Pacific.[3]

Ping An Insurance is one of the top 50 companies in the Shanghai Stock Exchange.[4] It is also a constituent stock of Hang Seng Index, an index of the top 50 companies in the Hong Kong Stock Exchange.[5] Ping An Insurance was also included in the pan-China stock indices CSI 300 Index, FTSE China A50 Index and Hang Seng China 50 Index.[6]

Ping An Insurance has been selected for the 2019 Dow Jones Sustainability Emerging Markets Index (DJSI). It was the first insurance company from mainland China to be selected on the index.[7] Ping An is a signatory of the United Nations-supported Principles for Responsible Investment (PRI), and was the first asset owner in mainland China to join.[8]

Ping An Insurance consistently ranks as the world's top global insurance brand, and as of 2020, was the most valuable global financial brand in the world.[9]

References[change | change source]

  1. Clay Chandler. "China's Biggest Private Sector Company Is Betting Its Future on Data". Forbes and Fortune. Archived from the original on 2019-09-20. Retrieved 2019-12-07.
  2. "Largest insurance companies worldwide as of July 2019, by market capitalization".
  3. "Largest insurance companies worldwide as of July 2019, by market capitalization".
  4. "Data center". East Money.
  5. "HSI". AAstocks.
  6. "Why Investing in Ping An Insurance Group can be Lucrative – PGM Capital". Retrieved 2020-04-07.
  7. "Ping An ups sustainability credential with leading index inclusion". The Asset.
  8. "Ping An named to Dow Jones Sustainability Index". Insurance Business Asia. Gabriel Olano. Retrieved 2019-12-10.
  9. "Ping An Named the World's Most Valuable Insurance Brand Fifth Year in a Row". Fintech News HK. 3 May 2021. Retrieved 2021-05-03.