Ping An Insurance (Group) Company of China, Ltd. ("Ping An", "the Company" or "the Group") was established in Shekou, Shenzhen, in 1988. With the support of governments at all levels, regulatory authorities, customers and the society, Ping An has grown into one of the three major integrated finance conglomerates in China. Ping An ranks 10th in the Forbes Global 2000 list for 2018, topping all the other insurance groups in the world. In the 2017 Fortune Global 500 list, Ping An ranks No. 29 among all the companies and No. 1 among mainland China’s mixed-ownership enterprises. The Group’s shares are listed on the Stock Exchange of Hong Kong and the Shanghai Stock Exchange. As of the end of 2017, the Group’s total market capitalization ranked 6th among the financial groups all over the world, and ranked 1st in terms of the market capitalization and brand of insurance groups.
Ping An endeavors to become a world-leading technology-powered retail financial services group upholding the belief of "technology-powered financial services for a better life" and boost the development by deepening “finance + technology” and exploring “finance + ecosystem”. Focusing on two major industries of "pan financial assets" and "pan health care", the Group will apply innovative technologies to five eco-systems, i.e. financial services, health care, auto services, real estate services, and smart city services. The Group aims to provide customers with the excellent experience of "expertise makes life easier", achieve sustainable profit growth, and secure long-term stable returns for shareholders.
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, Ping An Fund and so on. 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. In addition, Ping An has also actively explored fintech business via its subsidiaries including Lufax, Ping An Good Doctor, OneConnect, Ping An Haofang, and E-wallet, and has seen significant growth in terms of size and user base.
In 2017, the Company’s operating revenue was nearly RMB1 trillion, and both the net profit and tax payment were nearly RMB100 billion. The insurance, banking, asset management and other business sectors maintained healthy growth ahead of the market. 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. It had 166 million retail finance customers, 436 million internet users and approximately 1.8 million employees.
In the past decade, Ping An has invested more than RMB50 billion in technology development. The Group has gathered more than 23,000 R&D personnel and 500 big data experts, and established 6 research institutes. Furthermore, the Group has made remarkable breakthroughs in fintech, healthtech, artificial intelligence, blockchain, and big data, and won global awards for its achivements in face recognition, smart film reading, blockchain, smart music, and smart environmental protection. With absolute technology advantages and extensive application scenarios, Ping An has hatched a number of technological innovation platforms such as Lufax, Ping An Good Doctor, Ping An Healthcare Technology, OneConnect, and Smart City to export technology services to the society. Among them, the smart city cloud platform program has been promoted in dozens of cities in China, and achieved remarkable results.
Moreover, Ping An gradually extends its reach to other countries leveraging on its technology services, launched many of the world’s leading technology projects, such as blockchain and artificial intelligence, in countries and regions along the “Belt and Road”, and won unanimous praise from the international market, which has gained a good reputation for China’s fintech.
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 while creating value for its shareholders, employees and customers. To celebrate its 30th anniversary in 2018 and answer the national call of "winning the battle against poverty" and "building a moderately prosperous society in all respects", the Company invested RMB10 billion to launch the 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 been awarded the Most Respected Company in China for 16 consecutive years, and the Most Responsible Company for 10 consecutive years.