Ping An Insurance ( (PIAIF) ) has released its Q4 earnings. Here is a breakdown of the information Ping An Insurance presented to its investors.
Ping An Insurance (Group) Company of China, Ltd., a leading player in the insurance and financial services sector, focuses on integrated finance, health, and senior care solutions, leveraging technology to enhance its offerings.
Ping An Insurance reported a robust financial performance for 2024, with a notable 47.8% increase in net profit attributable to shareholders and a 9.1% rise in operating profit. The company also announced an increase in cash dividends for the 13th consecutive year, reflecting its commitment to shareholder returns.
Key financial highlights include a revenue increase of 10.6% year-on-year to RMB1,141,346 million and a comprehensive investment yield of 5.8%. The company saw significant growth in its Life & Health business, with a 28.8% rise in new business value and improvements in persistency ratios. Ping An’s bancassurance channel also experienced impressive growth, with a 62.7% increase in new business value.
Ping An continues to advance its ‘integrated finance + health and senior care’ strategy, focusing on customer-centric solutions and technology-driven innovations. The company has developed a comprehensive service ecosystem, enhancing customer engagement and satisfaction across its financial and health care offerings.
Looking ahead, Ping An remains optimistic about the long-term economic outlook and plans to further strengthen its core financial businesses while advancing its digital transformation strategy. The company aims to leverage its technological capabilities to drive growth and maintain its competitive edge in the market.