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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.
Ping An Insurance (Group) Company of China announced that Ping An Life won the Global Bronze Award for Re-imagining the Customer Experience at the 2022 Efma-Accenture Innovation in Insurance Awards. This accolade recognizes its "Intelligent Visiting Assistant - AI Meeting Platform," highlighting Ping An's significant strides in digital transformation. The AI platform enhances agent recruitment, training, and marketing, supporting nearly 18 million interviews and over 830 million training sessions. As a leading global financial services group, Ping An is committed to integrating technology into its operations.
Ping An Insurance Group aims to achieve RMB400 billion in green investment and credit by 2025, increasing its current total to nearly RMB224.58 billion as of December 31, 2021. The company is committed to environmental, social, and governance (ESG) practices, targeting operational carbon neutrality by 2030. Ping An also played a role in establishing China's first ESG disclosure standard. With a focus on sustainable investments, the group supports over 200 million retail customers and aims to create societal value alongside business growth.
Ping An Bank, a subsidiary of Ping An Insurance (Group) Company of China, has launched the Low Carbon Home, a personal carbon account platform. This innovative platform, developed in partnership with China UnionPay and the Shanghai Environment and Energy Exchange, is the first carbon account in China linked to UnionPay credit and debit cards. The platform tracks users' green behaviors, allowing them to visualize their carbon emission reductions. Users can earn rewards for eco-friendly actions, such as public transport usage, and redeem points for green assets, including tree planting initiatives.
Ping An Insurance (Group) Company of China announced its Q1 2022 financial results, revealing a 10.0% year-on-year increase in operating profit to RMB43,047 million. However, net profit fell by 24.1% to RMB20,658 million due to volatile capital markets. Customer growth continued, with retail customers increasing to 223 million. The company's Life & Health operating profit rose by 16% to RMB29,678 million, despite a 33.7% drop in new business value. Overall, Ping An remains focused on integrated finance and healthcare strategies.
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