Ping An Insurance (Group) Company of China, Ltd. ("Ping An", "the Company" or "the Group") was established in Shekou, Shenzhen, in 1988. The Group was the first insurance company in China to adopt a shareholding structure. It has developed into a personal financial services group with three core businesses — insurance, banking and investment — enjoying parallel growth of its core finance and internet finance businesses. The Group’s shares are listed on the Stock Exchange of Hong Kong (stock code: 2318) and the Shanghai Stock Exchange (stock code: 601318).
Ping An endeavors to become a world-leading technology-powered personal financial services group upholding the belief of "technology-powered financial services for a better life" and pursuing “finance + technology” and explore “finance + ecosystem”. Focusing on two major industries of "pan financial assets" and "pan health care", we will apply to five eco-systems, i.e. financial services, health care, auto services, real estate services, and smart city services. It provides customers with an excellent experience of "expertise makes life easier". It has achieved sustainable growth in profits, and has provided long-term stable returns to shareholders.
Ping An is one of China’s personal financial service groups with the most comprehensive range of financial business licenses, the widest business scope, and the most compact shareholding structure. The subsidiaries of Ping An include Ping An Life, Ping An Property & Casualty, Ping An Annuity, Ping An Health, Ping An Bank, Ping An Trust, Ping An Securities, and Ping An-UOB Fund. Covering the entire financial services spectrum, Ping An has become one of the few financial groups in China that can provide customers with a full range of financial products and services, including insurance, banking and investment. Besides, after years of deployment and efforts, Ping An's internet business has experienced a boom, and its internet user base recorded high growth. As at December 31, 2017, the Group's internet user base had grown to about 436 million users, up 26% from the beginning of the year.
Ping An has over 1,720,000 employees and life insurance sales agents. As at December 31, 2017, the Group had RMB6.49 trillion in total assets and RMB473.4 billion in equity attributable to shareholders of the parent company.
Ping An focuses on development of businesses with retail customers and aims to make its services more convenient and professional by cross-selling of different offerings. For the year of 2017, the retail customer base grew to 166 million, up 26.4% from the beginning of the year; the number of contracts per customer at the group level hit 2.32, up 5.0% from the beginning of the year; the profit per customer reached RMB355.85, up 14.2% year-on-year. Drawing on the excellent customer base attracted by its integrated finance model, Ping An has steadily raised the value of its retail business.
Ping An endeavors to become the pioneer in the era of smart technology. In the past decade, Ping An established a business model driven and developed by technology, continued to innovate in the sectors of fintech and healthtech. As at the end of 2017, the number of Ping An’s patent applications had risen 262.0% to 3,030. The applications cover technologies such as artificial intelligence (AI), blockchain, cloud computing, big data, and security. Ping An’s face recognition technology has an accuracy rate of 99.8% and its voiceprint recognition technology has a text-dependent accuracy rate of 99.7%, both at world-leading levels. Meanwhile, Ping An has developed applications for diverse scenarios, integrated the applications into core technological capabilities, and exported the capabilities to serve society. Over the years, it has successfully incubated several high-tech platforms such as Lufax Holding, Ping An Good Doctor, Ping An Healthcare Technology and OneConnect etc.
Ping An ranks 16th in the Forbes Global 2000 list for 2017, taking the honor as global top diversified insurer. In the 2017 Fortune Global 500 list, Ping An ranks No. 39 among all the companies and No. 1 among mainland China’s mixed-ownership enterprises. Ping An ranks No. 8 and No. 61 in the lists of Millward Brown’s BrandZTM Top 100 Most Valuable Chinese Brands 2017 and Top 100 Most Valuable Global Brands 2017 respectively. Ping An ranks as the top brand again in the global insurance sector in “Insurance 100 2017”, the world’s 100 most valuable insurance brands of 2018 published by Brand Finance. In the Best China Brands List 2017 published by Interbrand, the global largest brand consultancy firm, Ping An ranks 6th and is the top insurance brand in China.
As the first Chinese insurer to have foreign shareholders, Ping An has a robust governance structure and a highly professional management team with international backgrounds. Guided by its mission and belief to fulfill its responsibilities to the shareholders, customers, employees, society and partners, Ping An ensures that the Group as a whole is moving towards its goal on the basis of the consistency in strategy, branding, and corporate culture. Ping An’s sustainable and stable development is supported by its robust functional structure, clear growth strategy, leading comprehensive risk management, true, accurate, complete, timely and fair information disclosure, and proactive and efficient investor relations management.
Under the concept of "expertise creates value", Ping An proactively fulfills its corporate social responsibility, and pursues a win-win cooperation and joint development with all stakeholders. For many years, the Group has been committed to charitable causes in education, environmental protection, and volunteer services. Ping An has responded to hot issues and involve employees, customers, and the public in charitable initiatives. In 2018, Ping An will celebrate its 30th anniversary. The Company has launched an RMB10 billion Three-village Project composed of the Village Officer Program, the Village Doctor Program, and the Village Teacher Program to strength industries, healthcare and education in rural areas.
Ping An has received numerous awards and honors for its charitable work, including the Most Respected Company in China for 16 consecutive years, the Most Responsible Company for 10 consecutive years, and the International Carbon-Value Award on several occasions.