Ping An Ins Group Co China Ltd - PNGAY STOCK NEWS

On August 3, 2021, Coller Capital and Ping An Overseas Holdings announced the closure of a $680 million private credit secondaries transaction, marking one of the largest of its kind globally. Coller capital and co-investment vehicles contributed $580 million, with an Asian institution adding $100 million. The diversified portfolio includes investments in four flagship credit funds managed by prominent North American and European managers, covering over 400 positions across various industries. Ping An will retain management of the portfolio.

Ping An Insurance (Group) Company of China has launched a joint venture, Ping An-Shionogi, in Shanghai. This venture combines Ping An's digital healthcare ecosystem with Shionogi's drug development strengths to create an integrated healthcare service platform. The focus is on personalized health management solutions utilizing advanced technology and data for drug development. With a sales team of 340 covering over 100,000 pharmacies, the partnership aims to enhance healthcare services in China, addressing the growing demand for innovative healthcare solutions as the population ages.

Ping An Insurance (Group) of China announced the launch of the first digital RMB insurance policies in Shenzhen, targeting frontline medical staff. The policies offer up to RMB300,000 for death from COVID-19 and other benefits. This initiative, in collaboration with the Bank of China, aims to enhance convenience and security in premium settlements using digital currency. The pilot reflects Ping An's commitment to innovation in the insurance sector while promoting the use of digital RMB in everyday transactions.

Ping An of China Asset Management has received approval from the Securities and Futures Commission of Hong Kong for its inaugural UCITS umbrella fund offering in Hong Kong, announced on July 15, 2021. The fund, alongside its four sub-funds, is geared to leverage Ping An's 20+ years of investment experience in China. The sub-funds include strategies focused on AI-driven equity portfolios, green bonds, high-yield corporate bonds, and emerging markets. This move reflects Ping An's commitment to providing diverse investment options and capitalizing on China's growth opportunities.

Ping An Insurance (Group) Company of China emphasizes its commitment to gender equality and women's empowerment, as highlighted by Co-CEO Jessica Tan at the Caixin Summer Summit 2021. With 48.4% of its workforce being women, and 76.4% of senior business directors at Ping An Life, the company aims to attract talent through initiatives like the Talent Program. Furthermore, Ping An has launched the Mother's Needlework charity to improve local women's income in Sichuan and Cambodia, enhancing community engagement and employment opportunities.

On June 28, 2021, Ping An Insurance announced its successful bid to develop the Hubei Provincial Public Health Emergency Management Platform. This project aims to enhance public health systems by integrating big data, AI, and cloud computing. The system will feature smart monitoring, alerts, and predictive capabilities to improve response to health emergencies, addressing current challenges in infectious disease management. Ping An's team has already developed numerous AI models to bolster its healthcare initiatives, showcasing their commitment to advancing public health infrastructure in China.

Ping An is expanding its healthcare ecosystem to meet China's growing healthcare demands, according to Co-CEO Jessica Tan. She highlighted a significant rise in online medical consultations from 5% to 20% during the pandemic, which is expected to reach 34%. Ping An serves over 21,000 health management authorities and has processed over one billion online consultations. The company's comprehensive healthcare ecosystem, which includes Ping An Good Doctor, integrates online and offline services and supports 750,000 doctors. Ping An ranked first in global digital healthcare patent applications by end of 2020.