Ping An News

China’s Ping An Insurance Reports 48.9% Rise in Q1 Profit

Ping An Insurance (Group) Co. of China Ltd. saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday. Profit rose to 38.4 billion yuan ($5.55 billion) for the …

China’s Ping An Insurance Reports 17.6% Drop in 2022 Profit

Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value, reported a 17.6% drop in its 2022 annual net profit on Wednesday due to a slump in investment gains. Its profit of 83.8 billion yuan ($12.14 …

China’s Ping An Profit Drops 24% as Pandemic Deals Blow to Business

Ping An Insurance (Group) Co., China’s largest insurer by market value, said profit fell 24% and warned that outbreaks of COVID in the world’s second-biggest economy pose a threat to near-term growth. Net income dropped to 20.7 billion yuan ($3.1 …

Ping An Insurance Profit Falls 29%

Ping An Insurance Group Co of China Ltd., the country’s largest insurer, on Friday reported its biggest annual profit fall since 2008 as the country’s property market soured, but said it expected such investment losses to ease in future. Ping …

First Online M&A Insurance Marketplace Launches in Australia

io.insure, the world’s first online mergers and acquisitions (M&A) insurance marketplace for small and medium-sized business (SME) transactions, announced it has launched in Australia. The io.insure marketplace is designed to bridge the significant risk protection gap in the niche M&A …

Chinese Insurer Ping An Plans to Sell $2.1B Stake in Autohome: Sources

HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently the biggest shareholder of …

Ping An Insurance Profit Falls 31.2% as Returns, Premiums Shrink

SHANGHAI/BEIJING — Ping An Insurance Group Co of China Ltd., the country’s largest insurer by market value, posted a 31.2% fall in third-quarter net profit on Wednesday as its premium income shrank on a weak economy and profit was dented …

Ping An’s Big Drop in Market Value Driven by Investor Wariness Over China Uncertainties

China’s Ping An Insurance (Group) Co. has long argued it should be treated like a high-growth technology company instead of a seller of life policies. After a $90 billion plunge in its market value, it’s now priced more like a …

South African Insurer Discovery Says Ping An Investment Costs May Mean Capital Raise

South African insurer Discovery scrapped its annual dividend again on Thursday and said it may have to raise equity capital to cover costs linked to its investment in China’s Ping An, sending its shares down 8%. The company, which ties …

China’s Regulator Probing Ping An Insurance’s Property Investments: Reuters

SHANGHAI — China’s banking and insurance sector regulator is probing Ping An Insurance Group Co. of China Ltd.’s investments in the property market, two people with knowledge of the matter said, after the firm took a big profit hit from …