Ping An Insurance (Group) Co. News

China’s Ping An Insurance Reports First Annual Drop in Profit Since 2008

BEIJING/SHANGHAI — Ping An Insurance Group Co of China Ltd , China’s largest insurer by market value, on Wednesday reported its first annual fall in profit since 2008, as COVID shutdowns hampered business growth. The insurer reported a 4.2% drop …

Ping An’s Goal to Pivot from Finance Group to Tech Giant Is Now Threatened

The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one. While …

China’s Ping An Insurance Reports 7.74% Hike in Q3 Profit

Ping An Insurance Group Co of China Ltd on Tuesday reported a 7.74% rise in net profit, its first quarterly profit increase in a year, as the country’s largest insurer by market value attracted more retail customers. Net profit rose …

Insurer Ping An Taps Rising Demand for Chinese Assets with Offshore Management Arm

Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants intensifies. The overseas asset management arm aims to increase …

China’s Ping An Reports Q1 Profit Drop of 42.7% on Coronavirus Business Disruption

Ping An Insurance (Group) Co of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its businesses. Ping An, the country’s largest …

China’s Ping An Insurance Says Coronavirus Outbreak Could Hit Business

Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value, said on Thursday that the coronavirus may have an impact on its business. Ping An’s comments on the virus were included in its annual results, where …

12 Chinese Insurers Co-Launch Coverage for Businesses Hit by Coronavirus

China’s southern province of Hainan has launched the first specially designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance regulator said. The scheme has set aside …

China’s Insurance Giant Ping An Increasingly Focuses on ‘Technology Plus Finance’

Just 31 years after it was founded in China’s southern city of Shenzhen, Ping An Insurance (Group) Co. has grown into the world’s second-largest insurer by market value after Berkshire Hathaway Inc.—more valuable than Allianz SE and AIA Group Ltd. …

Ping An Q3 Profit Jumps 50% on Higher Investment Returns, Bank Income

Ping An Insurance (Group) Co., China’s largest insurer by market value, said third-quarter profit jumped 50% thanks to higher investment returns and banking income. Net income rose to 31.9 billion yuan ($4.5 billion) in the three months ended Sept. 30 …

Geneva Association Elects 4 Board Members from Ping An, Prudential, PICC and Aviva

The Geneva Association, the global organization of insurance and reinsurance chief executive officers (CEOs), announced the election of four new board members. They are: Yuansiong Lee, co-CEO, Ping An Insurance Co. of China; Charles F. Lowrey, CEO, Prudential Financial; Jianmin …