Ping An’s net profit drops to RMB83.8b in 2022

The insurer attributed the decline to the volatility of capital markets.

Volatile global capital markets and changes in the macroeconomic environment dragged down Ping An’s net profit for 2022 by 17.6% YoY to RMB83.3b.

The insurer’s net profit declined despite a 0.3% YoY increase in its operating profit.

READ MORE: Gross premiums of HK general insurance soar 4.5% in FY2022

In 2022, Ping An recorded an operating profit of RMB172.9b.

The insurer’s basic operating earnings per share also rose in 2022, increasing 1.2% YoY to RMB8.50.