Ping An tops China insurance brands for the eighth year By Investing.com

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HONG KONG – Ping An Insurance coverage (Group) Firm of China, Ltd. (HKEX: 2318 / 82318; SSE (LON:): 601318), has been named China’s Most Invaluable Insurance coverage Model for the eighth consecutive yr by Model Finance in its World 500 Report for 2024. The corporate’s model worth is estimated at US$44.36 billion, inserting it thirty first among the many world’s Most worthy manufacturers and second amongst insurance coverage manufacturers globally.

Regardless of a difficult exterior surroundings in 2023, Ping An maintained its model power by adhering to its “built-in finance + healthcare” technique and model promise of “Experience makes life easy.” The corporate expanded its complete monetary companies, providing prospects a seamless expertise throughout completely different ecosystems. As of September 2023, Ping An served practically 230 million retail prospects, with a mean of two.99 contracts per buyer.

The Group’s dedication to a customer-centric strategy has led to the enhancement of its one-stop “built-in finance + healthcare” services ecosystem. By leveraging expertise, Ping An goals to refine the consumer expertise with its “one buyer, a number of merchandise, and one-stop companies” mannequin. This strategy has resulted in a reported working revenue attributable to shareholders of RMB112.48 billion by the tip of September 2023, and an annualized working return on fairness (ROE) of 16.7%. The corporate’s web belongings additionally surpassed RMB900 billion.

Ping An’s company social accountability efforts align with societal progress and high-quality sustainable improvement. The corporate has been acknowledged for its ESG practices, receiving an A ranking from MSCI ESG Scores for the second yr working. The Group’s inexperienced insurance coverage premium revenue reached RMB26.28 billion, with a inexperienced mortgage stability of RMB136.04 billion, and inexperienced investments of insurance coverage funds at RMB132.31 billion. Ping An’s Rural Communities Assist program has allotted RMB107.90 billion since 2018 to assist rural industrial revitalization.

The data on this article is predicated on a press launch assertion.

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