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Ping An Insurance (Group) Company of China, Ltd. (PNGAY) is a leading provider of integrated finance and healthcare services, with nearly 230 million retail customers globally. The company, listed on HKEX: 2318 and SSE: 601318, focuses on providing professional financial advisory, family doctor, and elderly care services under the technology-driven 'integrated finance + healthcare' strategy. Ping An has showcased remarkable growth in its core businesses, such as life & health insurance, property & casualty insurance, and banking, with a strategic emphasis on sustainable development and corporate governance.
With a robust framework guided by exceptional corporate governance practices, Ping An emphasizes long-term strategic planning, talent management, and ESG investment philosophies. The company has positioned itself as a pioneer in green finance initiatives, rural industrial assistance, and digital transformation, demonstrating a strong commitment to sustainable growth and social responsibility. By leveraging innovative technologies and strategic partnerships, Ping An continues to drive high-quality development, provide lasting value to its stakeholders, and solidify its position as a global financial powerhouse.
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Ping An Insurance (Group) Company of China, receives a 'Low Risk' ESG Risk Rating from Sustainalytics for the second time, showcasing strong ESG risk management. The company excels in corporate governance, data privacy, business ethics, human capital, product governance, and ESG integration. Ping An continues to focus on customer-oriented healthcare and elderlycare services, achieving an operating profit of RMB117,989 million in 2023. The company's commitment to sustainable growth is evident through its corporate governance practices, information security management, talent development initiatives, and shareholder returns.
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Ping An Insurance (PNGAY) retains its top position as the most valuable insurance brand globally for the eighth consecutive year, with a brand value of USD33.6 billion, showing a 4.2% increase from the previous year. The company's focus on integrated finance, healthcare, and elderly care services has led to significant customer growth and service benefits.
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Ping An Insurance (PNGAY) reports strong financial results for 2023, with operating profit reaching RMB 117,989 million and net profit at RMB 85,665 million. Core businesses like Life & Health NBV grew 36.2%, and cash dividend increased for the 12th consecutive year. Ping An's integrated finance strategy and healthcare ecosystem drove customer growth and retention.
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Brand Finance names Ping An Insurance as China's Most Valuable Insurance Brand for the 8th consecutive year, with a brand value of US$44.36 billion. The company ranked 31st among the world's most valuable brands, 2nd among insurance brands, and 6th among global financial enterprises. Ping An recorded nearly 230 million retail customers, with an average of 2.99 contracts per customer. The company achieved an operating profit attributable to shareholders of the parent company of RMB112.48 billion and delivered a 16.7% annualized operating return on equity (ROE). Ping An's net assets attributable to shareholders of the parent company have exceeded the RMB900 billion mark. The company has been awarded an A rating in from MSCI ESG Ratings for the 2nd consecutive year, solidifying its leadership in the 'multi-line insurance & brokerage' category in Asia Pacific. Ping An's green insurance premium income amounted to RMB26.28 billion, with a green loan balance of RMB136.04 billion, and the volume of green investments of insurance funds at RMB132.31 billion. The company has cumulatively allocated RMB107.90 billion to support industrial revitalization in rural areas.
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Ping An Insurance (Group) Company of China, Ltd. (Ping An, HKEX: 2318 / 82318; SSE: 601318) contributes to the launch of the first self-regulating document for ESG disclosure in China's insurance industry, focusing on environmental, social, and governance information. The company has provided practical experience and guidance for high-quality information disclosure, emphasizing ESG risk management capabilities and corporate governance standards.
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Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318 / 82318; SSE: 601318) wins ESG Excellence Awards 2023 for Main Board Companies. Ping An's ESG performance is recognized, including operational carbon neutrality path, inclusive finance, responsible investment, and climate change vulnerability. The Company has made significant strides in areas such as corporate governance, corporate behavior, and rural revitalization plans. Ping An is actively responding to climate change challenges and opportunities, aiming for operational carbon neutrality by 2030. The Company promotes green finance, integrating finance capabilities, and has integrated insurance with healthcare and elderly care services to address the aging population challenge in China. Ping An's Ping An Rural Communities Support program has provided RMB103.241 billion through the program as of September 30, 2023.
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Ping An Insurance (Group) Company of China, Ltd. (Ping An, 2318 / 82318) has maintained its top ranking in the Multi-Line Insurance & Brokerage Industry in APAC. The company received an A rating in the MSCI ESG Ratings for the second consecutive year and excelled in areas such as Privacy & Data Security, Access to Finance, and Financing Environmental Impact. Ping An has been actively promoting green finance initiatives and has achieved significant milestones in responsible investment, green banking, and sustainable insurance. The company has also focused on personal information protection, financial service coverage, and corporate social responsibility. Moving forward, Ping An aims to continue its high corporate governance standards and provide integrated finance and healthcare services to its customer base of nearly 230 million.
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Ping An Insurance (Group) Company of China, Ltd. (2318 / 82318) announced that its subsidiary, Ping An Bank, has been awarded the 2023 Terra Carta Seal from the Sustainable Markets Initiative for its leadership in creating a climate and Nature-positive future. The bank focuses on clean energy, green environmental protection, high-carbon transformation, green transportation, green construction, and green services, providing tailored credit solutions for green industries and projects. It has granted green loans to various significant projects and has established personal carbon accounts for its individual customers. The company's green investment in insurance assets reached RMB140.929 billion, and the balance of green loans stood at RMB134.926 billion by the end of June 2023.
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Ping An Insurance (Group) Company of China, Ltd. (2318 / 82318) Chairman Dr. Ma Mingzhe honored with Director of the Year Award 2023 by The Hong Kong Institute of Directors for exemplary leadership, corporate governance, and ESG investment philosophies. The Company focuses on long-term strategic planning, talent management, and sustainable development, with significant progress in life insurance reform and healthcare services.
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Ping An Insurance (Group) Company of China, Ltd. has achieved the rating of 'Achiever' in the Business Sustainability Indices (BSI) published by The Chinese University of Hong Kong. The company has integrated sustainability into its strategy and business practices to create greater value for customers, employees, shareholders, and society. Ping An continues to enhance its corporate governance and business sustainability, with a sustainability management framework and a clear, transparent ESG governance structure. It has also launched various social and environmental initiatives, including home-based eldercare services, rural revitalization programs, and green finance initiatives.
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FAQ
What is the current stock price of PING AN INS CO OF CHINA (PNGAY)?
The current stock price of PING AN INS CO OF CHINA (PNGAY) is $12.06 as of December 24, 2024.
What is the market cap of PING AN INS CO OF CHINA (PNGAY)?
The market cap of PING AN INS CO OF CHINA (PNGAY) is approximately 126.4B.
What is Ping An Insurance (Group) Company of China known for?
Ping An is renowned for its integrated finance and healthcare services, providing professional financial advisory, family doctor, and elderly care services to its vast customer base.
What are the core businesses of Ping An?
Ping An's core businesses include life & health insurance, property & casualty insurance, and banking, all of which have showcased significant growth and operational excellence.
How does Ping An prioritize corporate governance and sustainability?
Ping An places a strong emphasis on corporate governance, sustainable development, and ESG investment philosophies, aligning its strategic initiatives with global best practices to drive long-term value creation.
What initiatives has Ping An undertaken in green finance and rural industrial assistance?
Ping An has been actively involved in green finance initiatives, rural industrial assistance programs, and social responsibility projects to foster sustainable growth and make positive contributions to society.
How does Ping An leverage technology and strategic partnerships for growth?
Ping An leverages innovative technologies and strategic partnerships to drive high-quality development, enhance operational efficiency, and provide exceptional value to its customers, shareholders, and the community.
PING AN INS CO OF CHINA