Ping An tops China insurance brands for the eighth year

HONG KONG – Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318 / 82318; SSE (LON:): 601318), has been named China’s Most Valuable Insurance Brand for the eighth consecutive year by Brand Finance in its Global 500 Report for 2024. The company’s brand value is estimated at US$44.36 billion, placing it 31st among the world’s most valuable brands and second among insurance brands globally.

Despite a challenging external environment in 2023, Ping An maintained its brand strength by adhering to its “integrated finance + healthcare” strategy and brand promise of “Expertise makes life simple.” The company expanded its comprehensive financial services, offering customers a seamless experience across different ecosystems. As of September 2023, Ping An served nearly 230 million retail customers, with an average of 2.99 contracts per customer.

The Group’s commitment to a customer-centric approach has led to the enhancement of its one-stop “integrated finance + healthcare” products and services ecosystem. By leveraging technology, Ping An aims to refine the user experience with its “one customer, multiple products, and one-stop services” model. This approach has resulted in a reported operating profit attributable to shareholders of RMB112.48 billion by the end of September 2023, and an annualized operating return on equity (ROE) of 16.7%. The company’s net assets also surpassed RMB900 billion.

Ping An’s corporate social responsibility efforts align with societal progress and high-quality sustainable development. The company has been recognized for its ESG practices, receiving an A rating from MSCI ESG Ratings for the second year running. The Group’s green insurance premium income reached RMB26.28 billion, with a green loan balance of RMB136.04 billion, and green investments of insurance funds at RMB132.31 billion. Ping An’s Rural Communities Support program has allocated RMB107.90 billion since 2018 to aid rural industrial revitalization.

The information in this article is based on a press release statement.

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