The insurer was able to grow its retail customer base to 179 million.
Reuters reports that Ping An Insurance Group’s profits surged 34% YoY to $8.45b (CNY58.10b) in the first six months of 2018 to represent its biggest half-year profit in at least ten years.
Robust customer and product growth boosted Ping An to achieve strong earnings with retail customers growing 25.2% to 179 million in H1.
Gross written premiums also rose 20% YoY to $59.3b (CNY408.19b).
The insurer also registered strong growth levels across most business segments with earnings from the life and health business rising 43.3% to $4.91b (CNY33.79b) and banking arm profits hitting $1.95b (CNY13.4b).
Here’s more from Reuters:
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