Ping An Insurance (Group) Company of China Ltd
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July 1, 2020
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Ping An Insurance (Group) Company of China Ltd

Revenue:
RMB 1,273,091 million (2019)
Profit:
RMB 164,365 million (2019)
Employees:
372,194 (2019)
GICS Industry Group:
Headquarters:
Shenzhen, Guangdong Province, China
Founded:
21 March 1988
Current CEO:
Ma Mingzhe (Apr 2001–)
Parent:
This is the ultimate parent

Description

Ping An Insurance (Group) Company of China Ltd (Ping An) is a Chinese holding company whose subsidiaries mainly provide insurance, banking, and financial services. The company was founded in 1988 by Ma Mingzhe and Yuan Geng and is headquartered in Shenzhen, Guangdong Province, China.

Ping An broadly divides its operations into three segments: insurance, banking, and investment. The insurance segment offers life, property and casualty, pension, and health insurance services. The banking segment undertakes loan and intermediary business, wealth management, and credit card services. The investment segment provides trust, securities, and asset management services.

Ping An is listed on the Shanghai Stock Exchange (SSE) under the code 601318 (A shares), and the Stock Exchange of Hong Kong under the code 2318 (H shares).

In Chinese Renminbi (RMB or CNY)
In Chinese Renminbi (RMB or CNY)
In Chinese Renminbi (RMB or CNY)

Operating Segments:

Life and health insurance - The life and health insurance segment offers a range of life insurance products to individual and corporate customers, including term, whole-life, endowment, annuity, investment-linked, universal life and health care and medical insurance. These services are offered through Ping An Life, Ping An Annuity, and Ping An Health. For the year ending 31 December 2019, the life and health insurance segment accounted for 56.52% (RMB 719,603 million) of total revenue.

Property and casualty insurance - The property and casualty insurance segment offers vehicle insurances, engineering insurances, property loss insurances, liability insurances, credit insurances, and insurance products. For the year ending 31 December 2019, the property and casualty insurance segment accounted for 20.20% (RMB 257,228 million) of total revenue.

Banking - The banking business represents results of Ping An Bank. Ping An Bank offers services in retail and corporate banking, including investment banking services. For the year ending 31 December 2019, the  accounted for 18.35% (RMB 233,609 million) of total revenue.

Other asset management - The other asset management segment provides investment management services, finance lease business and other asset management services through Ping An Asset Management, Ping An Financial Leasing, and Ping An Overseas Holdings. For the year ending 31 December 2019, the other asset management segment accounted for 3.87% (RMB 49,281 million) of total revenue.

Technology - The technology segment provides services through various internet platforms such as financial transaction information service platform, health care service platform. The fintech and healthtech business represents results of companies that engage in fintech and healthtech operations including Lufax Holding, Ping An Good Doctor, OneConnect, Ping An HealthKonnect, and Autohome. For the year ending 31 December 2019, the fintech and healthtech segment accounted for 2.52% (RMB 32,044 million) of total revenue.

Securities - The securities segment undertakes brokerage, trading, investment banking and asset management services. For the year ending 31 December 2019, the the securities segment accounted for 1.22% (RMB 15,490 million) of total revenue.

Trust - The trust segments provides services including the management of funds, trusts, and foundations organised for purposes other than religious, educational, charitable, or nonprofit research. For the year ending 31 December 2019, the trust segment accounted for 0.39% (RMB 4,955 million) of total revenue.

Note: For the year end 31 December 2019, other businesses and elimination accounted for -3.07% of total revenue.

Mergers and Acquisitions:

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