Ετικέτα: Ping An Insurance

Ping An Reports Steady 7.6% Growth in Operating Profit Attributable to Shareholders of the Parent Company in Q1 2026, Life & Health NBV Increases 20.8% YoY Group Total Assets Exceed RMB14 Trillion

Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”; HKEX: 2318; SSE: 601318) today announced its first quarter financial results for the three months ended March 31, 2026.
2026 marks the commencement of China’s 15th Five-Year Plan. Despite a complex and volatile external environment and challenges to economic performance, China’s economy made a good start in the first three months of 2026. Ping An remains committed to its core financial business while consistently advancing its “integrated finance + health and senior care” strategy and upgrading services to build a differentiated core competitive advantage. The Group achieved steady overall operations and high-value growth in core businesses, demonstrating the resilience of development.
The Group’s operating profit attributable to shareholders of the parent company grew 7.6% year on year to RMB40,780 million in the first three months of 2026. The Group’s equity attributable to shareholders of the parent company was RMB1,018,310 million, up 1.8% from the beginning of the year as of March 31, 2026. Total assets rose above RMB14 trillion to approximately RMB14.17 trillion as of March 31, 2026. Life and health insurance (“Life & Health”) business achieved significant progress in high-quality development. In the first three months of 2026, Life & Health’s first-year premium (“FYP”) increased by 45.5% to RMB66,340 million. New business value (“NBV”) climbed 20.8% year on year to RMB15,574 million. Bancassurance, community finance and other channels’ share in Ping An Life’s NBV increased by 6.8 pps year on year. The integrated financial service model improved the efficiency of customer development. As of March 31, 2026, Ping An’s retail customers increased 0.2% from the beginning of the year to nearly 252 million. The retention rate of customers holding products across three or more product lines was 99% in the 12 months ended March 31, 2026. The advancing health & senior care strategy enabled core businesses via differentiation. The QR code payment service covered 111 thousand pharmacies nationwide, and cumulatively over 290 thousand customers had become entitled to home-based senior care services as of March 31, 2026. Ping An upgraded services to improve customer experience. By developing the financial industry’s first AI Assistant that can “get things done driven by one prompt,” Ping An realized AI-enabled review and processing of 84% of its business volume. The monthly online active customers on Ping An’s apps increased 7.7% year on year to approximately 90 million in the 12 months ended March 31, 2026. Moreover, Ping An upgraded its global emergency assistance services to enable “one-touch emergency response,” protecting customer safety by offering 38 service items in three major scenarios, namely “at-home, outdoor and overseas.”
Integrated Finance Model Enables Core Competitive Edges, with Three Main Businesses Achieving High-Value Growth
The integrated financial service model enabled core competitive edges, constantly improving the efficiency of customer development. The Group’s retail customers increased 0.2% from the beginning of the year to nearly 252 million and contracts per retail customer remained unchanged from the beginning of the year at 2.94 as of March 31, 2026. Quality of the customer base continued to improve. The Group’s high-value customers increased 1.2% from the beginning of the year, faster than the overall retail customer base. Customer retention remained at a high level. Ping An has built a comprehensive product portfolio across four product lines, namely protection, wealth, credit, and service. This allows the Group to systematically meet customers’ diverse financial, health and senior care needs. Moreover, Ping An enhances customer interaction and boosts retention with service products. The retention rate of customers holding products across two product lines was 97% while that of customers holding products across three or more product lines was 99% in the 12 months ended March 31, 2026. Customer engagement improved significantly. Since the go-live of the “All in One” platform in October 2025, Ping An has launched an integrated user interface of its apps and “Express Service.” Monthly online active customers on Ping An’s apps increased 7.7% year on year to approximately 90 million in the 12 months ended March 31, 2026.
Life & Health business sustained growth with high-quality multi-channel development. NBV climbed 20.8% year on year to RMB15,574 million. New business FYP jumped 45.5% fueled by strong market demand. Bancassurance, community finance and other channels’ share in Ping An Life’s NBV increased by 6.8 pps year on year. Ping An Life comprehensively built multi-channel professional sales capabilities. In respect of the agency channel, Ping An Life launched IWA, an Insurance & Wellness Advisor brand, to boost team professionalism. In respect of the bancassurance channel, Ping An Life has comprehensively partnered with major state-owned banks and leading joint-stock banks, and accelerated partnership with high-quality urban commercial banks. In respect of the community finance channel, the overall persistency ratio of retained customers improved by 1.8 pps year on year in the first three months of 2026. Ping An Life rolled out “insurance + service” products in an orderly manner. The Company meets customers’ diverse insurance needs via product innovation and upgrade. It launched new medical insurance products tailored to groups with higher risks and introduced an eight-year premium payment option. Ping An explored service innovation. It provided nearly eight million customers with health management services in the first three months of 2026. Cumulatively over 290 thousand customers had become entitled to home-based senior care services as of March 31, 2026. Ping An’s premium health and senior care communities had been unveiled in five cities as of March 31, 2026. Among them, Zhen City • Shanghai and Zhen City • Futian in Shenzhen have opened for business.
Ping An P&C achieved solid growth with consistently improving business quality. Ping An P&C’s premium income rose 6.8% year on year to RMB90,951 million in the first three months of 2026. Premium income of non-auto insurance reached RMB37,514 million, up 19.5% year on year. Ping An P&C’s insurance revenue increased 3.9% year on year to RMB84,334 million. Overall COR improved by 0.8 pps year on year to 95.8%. New energy vehicle insurance business continued to grow, with premium income climbing 16.1% year on year and underwriting profitability remaining stable.
Ping An adheres to the philosophies of long-term investing and liability matching for insurance funds investment. The Group’s insurance funds investment portfolio achieved an unannualized net investment yield of 0.8%. Ping An’s insurance funds investment portfolio grew 0.9% from the beginning of the year to about RMB6.55 trillion as of March 31, 2026.
Ping An Bank achieved growth in both revenue and profit, and maintained steady asset quality. Revenue and net profit rose 4.7% and 3.0% year on year to RMB35,277 million and RMB14,523 million respectively in the first three months of 2026. As of March 31, 2026, non-performing loan ratio was 1.05% and provision coverage ratio was 219.59%; core tier 1 capital adequacy ratio rose 0.15 pps from the beginning of the year to 9.51%. Retail assets under management rose 1.2% from the beginning of the year to RMB4,287,990 million as of March 31, 2026. Corporate loan balance rose 4.1% from the beginning of the year to RMB1,730,959 million as loans to areas including technology finance and manufacturing grew healthily.
Ping An Advances Health and Senior Care Strategy and Enhances Customer Experience through Service Innovation
Ping An delivers the most cost-effective health and senior care services by leveraging its unique ecosystem advantage of “acting for payers and integrating providers.” It has built core payment competencies. In the first three months of 2026, Ping An realized over RMB47.3 billion in health insurance premium income, including RMB24.35 billion in medical insurance premium income, up 6.4% year on year. Ping An has empowered core financial business development via its health and senior care ecosystem. First-year premium per new policy of health care customers, home-based senior care customers, and premium senior care customers increased by 1.2 times, 5.9 times, and 28.8 times respectively in the first three months of 2026. Health and senior care services are rapidly becoming a key driver of Ping An’s second growth curve. PKU Healthcare Group and Ping An Health (also known as Ping An Good Doctor) achieved RMB1,327 million and RMB1,159 million in revenue respectively in the first three months of 2026.
Ping An develops an “online, in-hospital, at-home and corporate” full-scenario service system. Online: AI Doctor, empowered by Ping An’s proprietary AI large language models, was used by over 5.60 million persons in the first three months of 2026. In-hospital: as of March 31, 2026, Ping An had partnered with over 38 thousand domestic hospitals, including 100% of China’s top 100 hospitals and 3A hospitals. At-home: cumulatively over 290 thousand customers had become entitled to home-based senior care services as of March 31, 2026, increasing by 50,000 from the beginning of the year. Corporate: Ping An’s health and senior care services covered 165 thousand paying corporate clients as of March 31, 2026. Ping An’s QR code payment service for offline medicine purchase by members of corporate health management programs covered 111 thousand pharmacies nationwide as of March 31, 2026.
Ping An has significantly upgraded its “Service Year” initiative to comprehensively improve customer experiences. Leveraging the opportunities of the 2026 “Service Year,” Ping An has enhanced its two signature AI‑powered “Express Service” and “Global Emergency Assistance.” Since the go-live of the “All in One” platform in October 2025, Ping An has launched an integrated user interface of its apps and “Express Service.” Ping An provides its nearly 252 million customers with the financial industry’s first AI Assistant that can complete transactions, facilitate loan applications, make claim payments and provide emergency support all through a single prompt, meeting customer needs via “one user interface, one-stop solutions.” Moreover, Ping An upgraded its global emergency assistance services to enable “one-touch emergency response” under a “3A” (Anytime, Anywhere and Anything) philosophy. Ping An partnered with over 200,000 medical institutions and 600,000 high-quality service providers, offering 38 service items across 233 countries and regions worldwide to protect customer safety.
Ping An empowers finance with “AI in ALL.” In April 2026, Ping An’s “Medical Large Model 3.5” achieved the highest global score on HealthBench Hard, the authoritative medical AI benchmark released by OpenAI. Ping An’s Financial Large Model ranked first overall on the authoritative CNFinBench leaderboard. Under the principle of “AI in ALL,” Ping An enables financial business to improve experience, manage risks, cut costs, and promote sales. In respect of experience improvement, Ping An has created a new brand image of life insurance claim service with “111 Quick Claims” featuring one-sentence case reporting, one-click material uploading, and one-minute claim review. In the first three months of 2026, 59% of claims were settled via the quick claim service. In respect of risk management, Ping An P&C’s claims savings via smart fraud detection grew 6.7% year on year to RMB3.65 billion in the first three months of 2026. In respect of cost cutting, the volume of services provided by Ping An’s AI service representatives reached about 487 million times, accounting for 82% of Ping An’s total customer service volume in the first three months of 2026. The AI code penetration rate reached 40%, effectively enhancing the efficiency of research and development staff. In respect of sales promotion, AI agents helped realize RMB30,442 million in sales in the first three months of 2026 by enabling demand analysis, personalized recommendation, sales pitches, and so on.
Ping An actively fulfills its social responsibilities, supporting green development and rural vitalization. Ping An’s green insurance premium income was RMB19,119 million, and funding provided for rural industrial vitalization via “Ping An Rural Communities Support” totaled RMB16,930 million in the first three months of 2026.
Looking ahead, China’s trajectory toward high-quality economic development remains unchanged. A series of government policies will continue to create new advantages and drivers for domestic demand growth and economic recovery. Ping An will always stay true to its original aspiration of serving the people through financial services and will remain steadfast in its strategic resolve. The Group will adhere to its business policy of “value growth, service innovation, technology enablement, and regulatory compliance,” and advance its technology-enabled “integrated finance + health and senior care” dual-pronged strategy. By continuously upgrading its service offerings and consolidating core competitiveness, Ping An is firmly committed to advancing five key financial sectors—technology finance, green finance, inclusive finance, pension finance, and digital finance—and to striving for long-term, high-quality, and sustainable development.

Ping An Completes Share Cancellation and Capital Reduction

Ping An Insurance Company of China has completed the cancellation of over 102 million A shares as part of its 2021 A Share Repurchase Plan, leading to a reduction in its registered capital to RMB18,107,641,995. This change, along with amendments to the company’s Articles of Association, reflects a strategic move to optimize its capital structure, potentially impacting its financial stability and shareholder value.
The most recent analyst rating on 2318 +1.12% ▲ stock is a Buy with a HK$61.00 price target. To see the full list of analyst forecasts on Ping An Insurance Company of China stock, see the HK:2318 Stock Forecast page.

Ping An Reports Steady 2.4% Growth In Operating Profit Attributable to Shareholders of the Parent Company in Q1 2025, Life & Health NBV Jumps 34.9% YoY, Group Total Assets Rise above RMB13 Trillion

Ping An Insurance (Group) Company of China, Ltd. has announced its first quarter financial results for the three months ended March 31, 2025.
With macroeconomic policies continuing to exert their effects, China’s economy achieved a steady start, maintaining an upward trend in the first three months of 2025. However, foundations for sustained economic recovery and growth still needed to be strengthened due to an increasingly complex and severe external environment, subdued domestic effective demand, and volatile capital markets. Ping An maintained steady performance with solid fundamentals in overall operations by focusing on its core financial businesses, driving innovation, and pursuing high-quality development.
The Group’s operating profit attributable to shareholders of the parent company rose 2.4% year on year to RMB37,907 million in the first three months of 2025. Life and health insurance (“Life & Health”) business’s operating profit attributable to shareholders of the parent company rose 5.0% year on year to RMB26,864 million. The Group’s total assets rose above RMB13 trillion to RMB13.18 trillion as of March 31, 2025. Life & Health business developed steadily with enhanced multi-channel capabilities and high quality. New business value (“NBV”) rose strongly by 34.9% year on year to RMB12,891 million and NBV margin grew 10.4 pps year on year to 32.0% in the first three months of 2025. Notably, NBV from the bancassurance channel and community finance channel jumped 170.8% and 171.3% year on year respectively. Ping An further advanced its integrated finance model. Retail customers increased 1.0% from the beginning of the year to nearly 245 million as of March 31, 2025. The retention rate of retail customers holding four or more contracts within the Group was 98.0%. Ping An further advanced its health and senior care strategy. Nearly 63% of Ping An’s nearly 245 million retail customers were entitled to service benefits in the health and senior care ecosystem as of March 31, 2025. Ping An’s insurance funds achieved sound investment results. The investment portfolio achieved an unannualized comprehensive investment yield of 1.3% in the first three months of 2025, up 0.2 pps year on year.
1. Deepening Integrated Finance; Strengthening Multichannel Development in Life Insurance
Ping An enhanced the development of retail customers under a customer needs-oriented philosophy. The Group’s retail customers increased 1.0% from the beginning of the year to nearly 245 million and contracts per retail customer grew 0.3% from the beginning of the year to 2.93 as of March 31, 2025. High customer retention. The retention rate of customers holding four or more contracts within the Group was 98.0% as of March 31, 2025, 11.9 pps higher than that of those holding only one contract. Strong customer growth. There were 8.64 million new customers in the first three months of 2025, up 20.0% year on year. Deep product penetration. Penetration rates of life and health insurance products as well as property and casualty insurance products were relatively high and grew steadily to 45.8% (up 0.9 pps from the beginning of the year) and 30.7% (up 0.1 pps from the beginning of the year) respectively as of March 31, 2025.
Life & Health NBV achieved robust growth. Ping An Life continued to enhance its channels and improve business quality under the “4 channels + 3 products” strategy in the first three months of 2025. By upgrading “insurance + service” solutions, Ping An Life continuously strengthened its presence in health and senior care sectors and provided customers with professional, heartwarming services, enabling high-quality development of the company. Life & Health NBV grew 34.9% year on year to RMB12,891 million with NBV margin based on annualized new premium rising 10.4 pps year on year to 32.0% in the first three months of 2025. Significantly enhanced multichannel capabilities. Through continuously deepening transformation and focusing on a team development framework that prioritized the cultivation, recruitment and fostering of high-quality agents, the agent channel NBV increased by 11.5% year on year, and NBV per agent increased by 14.0% year on year. Bancassurance channel NBV surged by 170.8% year on year, as Ping An Life adhered to a diversification strategy, standardized outlet operations, and developed high-performing teams. The community finance channel NBV soared by 171.3% year on year, as Ping An Life had set up 131 community finance outlets in 93 cities, and built elite teams of nearly 24,000 “high-competence, high-performing, and high-quality” agents as of March 31, 2025. The community finance channel’s overall persistency ratio of “retained customers” improved by 0.5 pps year on year in the first three months of 2025, thanks to continuous breakthroughs in customer development. “Insurance + Service” solutions were upgraded. Ping An Life provided nearly 10 million customers with health management services in the first three months of 2025. Over 190,000 customers qualified for home-based senior care services, which covered 75 cities nationwide as of March 31, 2025. Ping An had unveiled a total of six premium health and senior care communities in five cities as of March 31, 2025, which are currently under construction. The communities in Shanghai and Shenzhen are scheduled to open for business in the second half of 2025.
Ping An P&C maintained steady insurance business growth and good business quality. Ping An P&C’s premium income grew 7.7% year on year to RMB85,138 million and insurance revenue rose 0.7% year on year to RMB81,153 million in the first three months of 2025. Overall combined ratio improved by 3.0 pps year on year to 96.6%. The company accelerated transformation by actively applying AI technologies represented by DeepSeek to its core business processes, optimizing operational and business models to forge a new driver of high-quality growth.
Ping An’s insurance funds investment achieved solid results. The investment portfolio achieved an unannualized comprehensive investment yield of 1.3%, up 0.2 pps year on year. The Group’s insurance funds investment portfolio grew 3.3% from the beginning of the year to over RMB5.92 trillion as of March 31, 2025.
Ping An Bank maintained steady business performance and stable asset quality. The bank’s revenue and net profit totaled RMB33,709 million and RMB14,096 million respectively in the first three months of 2025 as a result of market changes and business mix optimization. Non-performing loan ratio and provision coverage ratio were 1.06% and 236.53% respectively as of March 31, 2025. Core tier 1 capital adequacy ratio rose 0.29 pps from the beginning of the year to 9.41% as of March 31, 2025.
2. Differentiation-Enabled Core Financial Businesses Under the Health and Senior Care Strategy
Ping An’s health and senior care ecosystem created both standalone direct value and huge indirect value by enabling its core financial businesses via differentiated “Product + Service” offerings. Nearly 63% of Ping An’s nearly 245 million retail customers were entitled to service benefits in the health and senior care ecosystem as of March 31, 2025. They held approximately 3.37 contracts and RMB61,200 in assets under management per capita, 1.6 times and 4.0 times those held by retail customers not entitled to these service benefits respectively.
Ping An made significant progress in customer development by effectively integrating insurance with health and senior care services. Ping An’s health and senior care ecosystem enables its core financial businesses through customer acquisition and retention. Synergies between integrated finance and the health and senior care ecosystem give Ping An Health and PKU Healthcare Group access to corporate and retail customers of Ping An’s financial businesses. They also give companies including Ping An Life access to service benefits in the Group’s health and senior care ecosystem. The Group’s health and senior care ecosystem had over 42,000 paying corporate clients and generated over RMB38.5 billion in health insurance premium income in the first three months of 2025. Over 190,000 customers qualified for home-based senior care services, which covered 75 cities nationwide as of March 31, 2025. Ping An has unveiled premium health and senior care communities in 5 cities.
The proprietary flagship business maintained an upward trend, while the integrated “online, in-store, in-home, and in-company” service network was further optimized. In respect of proprietary flagships, PKU Healthcare Group’s revenue grew steadily to approximately RMB1,200 million in the first three months of 2025. Peking University International Hospital’s revenue grew about 9% year on year to approximately RMB550 million, and the number of outpatient visits exceeded 302,000 in the first three months of 2025. In respect of partner networks, Ping An provided services via an “online, in-store, in-home and in-company” network by integrating domestic and overseas premium resources including medical services, health services, commodities and medicines. Ping An had about 50,000 in-house doctors and external doctors in China as of March 31, 2025. It also partnered with nearly 37,000 hospitals (including all top 100 hospitals and 3A hospitals), approximately 105,000 health management institutions and nearly 239,000 pharmacies (up by over 3,500 from the beginning of the year) in China as of March 31, 2025.
3. Building a “9+5+3” Moat to Implement AI Technologies; Integrating Large Models with Business Application Scenarios
The Group built a “9+5+3” moat to implement AI technologies. The nine databases process over 1 billion data entries per day on average, covering 240 million financial customers, providing deep insights into user needs and enabling user experience improvements. The five labs (Micro-Expression Lab, Computer Vision Lab, Speech & NLP Lab, Data Analytics Lab, and Silicon Valley Lab) continuously explore cutting-edge technologies. The three tech member companies (Ping An Technology, Ping An Health, and OneConnect) focus on expanding the breadth and depth of AI application scenarios. Ping An has accumulated vast amounts of data that can be used to train large models, and continuously develops vertical large models for domains including finance, health care and senior care. Trained with a domain data corpus containing over 3.2 trillion tokens, approximately 310 thousand hours of labeled speeches and over 7.5 billion images, Ping An’s large speech models, large language models, and large vision models have achieved industry-leading accuracy rates in scenarios. The Group cumulatively won 45 championships in domestic and overseas AI competitions, and cumulatively filed 55,435 patent applications as of March 31, 2025, leading most international financial institutions.
Technology enabled core financial businesses by reducing costs, enhancing efficiency, and mitigating risks. The volume of services provided by Ping An’s AI service representatives reached about 450 million times, accounting for 80% of Ping An’s total customer service volume in the first three months of 2025. By efficiently addressing inquiries and resolving complaints, they significantly reduced human service costs. Via smart underwriting, smart claim settlement and smart policy renewal, 93% of life insurance policies were underwritten within seconds, 56% of life insurance claims were settled through Smart Quick Claim, and reinstatement of life insurance policies accelerated by 12%. Moreover, Ping An P&C’s claims savings via smart fraud detection grew 14.0% year on year to RMB3.42 billion as Ping An continuously strengthened risk management.
Ping An actively fulfilled its social responsibilities by supporting green development and rural vitalization. The Group’s green insurance premium income amounted to RMB16,880 million and funds provided for rural industrial vitalization via “Rural Communities Support” totaled RMB15,653 million in the first three months of 2025.
Looking ahead, the national strategies of innovation-driven development and the expansion of domestic demand will continue to provide strong momentum for domestic demand growth and economic recovery. Meanwhile, rising complexity, severity, and uncertainty in the external environment pose both opportunities and challenges. Ping An firmly believes that the industry’s long-term fundamentals will remain positive. With stronger business resilience and enhanced management capabilities, Ping An is committed to deepening its core financial businesses and driving performance growth. The Group will continue to advance its technology-driven “integrated finance + health and senior care” strategy, implement digital transformation and “worry-free, time-saving, and money-saving” value proposition, bolster five key financial sectors (technology finance, green finance, inclusive finance, pension finance, and digital finance). Ping An is dedicated to creating long-term, stable, and sustainable value for customers, employees, shareholders, and society.

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 to 34.4 billion yuan ($5.12 billion) in the three months to September 30 from 31.9 billion yuan a year earlier, Ping An said in a stock market filing in Hong Kong on Tuesday.
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