Ping An Insurance profits skyrocketed 77.1% to $6.76b in Q1

Gross written premiums jumped 8.4% to $40.73b.

China’s largest insurance by market value, Ping An Insurance, saw its profits climb 77.1% YoY to $6.76b (RMB45.52b) in Q1 from $3.82b (RMB 25.7b)as the capital market recovery drove strong investment returns.

Ping An’s value of new business (NBV) of the life and health insurance business grew 6.1% YoY to $3.21b (RMB21.64m). Gross written premiums hit $40.73b (RMB274.38b), up 8.4% YoY from $37.58b (RMB253.12b) a year ago.

“We adjusted our product mix and focused more on high-value products, realizing a 5.9 pps rise YoY in NBV margin which partially offset the effect of a decline in first-year premium,” the firm explained.

Meanwhile, retail customers rose 3.6% YTD to 191 million. Internet users rose by 4.2% to 561 million. Ping An noted that they acquired 11 million new customers in Q1, of which a third (31.3%) were sourced from Internet users.

Also Read

Nan Shan Life to maintain improved capital and earnings through 2026

Cyberattacks cost Australian businesses $71,600 on average

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit