ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Finance

Ping An Insurance (Group) Co. of China Ltd.

Company Background

Ping An Insurance Group is a Chinese financial conglomerate with banking, asset management and other units. It has nearly 90 million customers. Ping An was established in the southern city of Shenzhen, Guangdong Province, in 1988 as China's first joint-stock insurance company. It entered the banking business in 2006 when it purchased a bank in the city and renamed it Ping An Bank.

 

The company has 236,000 employees and 635,000 insurance agents. Many of the types of policies it promotes have not entered the mainstream in China. It ranks second in both the life and nonlife insurance markets in terms of premium revenues.

 

One of Ping An's key strengths is its ability to comprehensively offer a range of financial services, including insurance, banking, trust, securities, futures and asset management.

 

Ping An stands out among Chinese financial institutions for its aggressive acceptance of foreign capital. HSBC of the U.K. became its single largest shareholder in 2002. HSBC later sold its stake under a new management policy, making Thai conglomerate Charoen Pokphand Group the biggest investor. Other shareholders include Tamasek Holdings, an investment company owned by the government of Singapore.

Business Summary

Ping An Insurance (Group) Co. of China Ltd. engages in the provision of financial products and services. It operates through the following segments: Insurance, Banking, Trust, Securities, Other Asset Management, Technology, and Others. The Insurance segment offers life, property and casualty, pension, and health insurance services. The Banking segment undertakes loan and intermediary business, wealth management, and credit card services. The Trust segment provides trust services and undertakes investing activities. The Securities segment undertakes brokerage, trading, investment banking and asset management services. The Other Asset Management business segment provides investment management services and financial leasing business, reflecting performance of asset management and financial leasing and the other asset management subsidiaries. The Technology business segment provides financial and daily-life services through internet platforms such as financial transaction information service platform, health care service platform, reflecting performance summary of the technology business subsidiaries, associates and jointly controlled entities. The company was founded by Ming Zhe Ma on March 21, 1988 and is headquartered in Shenzhen, China.

Financial Highlights

Dec 2020 HKDUSD
Revenue1,352.31B174,357.15M
Gross Profit----
Operating income291,126.47M37,535.67M
Income before tax192,060.54M24,762.85M
Net income160,799.39M20,732.27M
EBITDA----
Diluted EPS8.831.13
Dividends Per Share2.570.33
Total Assets11,272.65B1,453.81B
Total liabilities10,101.35B1,302.75B
Total equity904,121.81M116,602.95M
Operating cash flow507,719.49M65,461.55M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 894,295.84M 1,104.49B 1,274.03B 1,248.57B 1,352.31B
Gross Profit -- -- -- -- --
Operating income 190,490.77M 250,851.74M 299,536.54M 251,080.85M 291,126.47M
Income before tax 111,912.29M 147,128.12M 171,837.01M 183,144.52M 192,060.54M
Net income 72,902.30M 102,726.20M 127,215.08M 169,415.05M 160,799.39M
EBITDA -- -- -- -- --
Diluted EPS 4.08 5.75 7.12 9.50 8.83
Dividends Per Share 0.86 1.81 1.99 2.26 2.57
Total Assets 6,204.78B 7,775.81B 8,126.51B 9,178.32B 11,272.65B
Total liabilities 5,662.07B 7,070.05B 7,346.91B 8,224.87B 10,101.35B
Total equity 427,791.58M 568,231.99M 634,617.86M 752,994.80M 904,121.81M
Operating cash flow 444,271.27M 367,005.65M 284,951.17M 417,534.12M 507,719.49M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 115,207.83M 141,732.40M 162,555.55M 159,355.01M 174,357.15M
Gross Profit -- -- -- -- --
Operating income 24,540.00M 32,190.12M 38,218.15M 32,045.24M 37,535.67M
Income before tax 14,417.12M 18,879.96M 21,924.85M 23,374.58M 24,762.85M
Net income 9,391.65M 13,182.16M 16,231.49M 21,622.30M 20,732.27M
EBITDA -- -- -- -- --
Diluted EPS 0.52 0.73 0.90 1.21 1.13
Dividends Per Share 0.11 0.23 0.25 0.28 0.33
Total Assets 800,292.67M 994,693.16M 1,037.95B 1,177.94B 1,453.81B
Total liabilities 730,293.24M 904,411.06M 938,381.55M 1,055.58B 1,302.75B
Total equity 55,176.48M 72,689.03M 81,056.26M 96,639.39M 116,602.95M
Operating cash flow 57,233.33M 47,095.37M 36,357.19M 53,289.54M 65,461.55M

Valuation Measures

Dec 2020
PER9.07
ROA1.57%
ROE19.40%
Operating margin21.52%
Profit margin11.89%

Key executives

  • President, Co-CEO & Executive Director: Yong Lin Xie
  • Co-CEO, CFO, Executive Director & Chief Actuary: Jason Yao
  • Co-CEO, COO, Executive Director & Executive VP: Sin Ying Tan
  • Chief Insurance Business & Information Officer: Min Lu
  • Chief Scientist: Jing Xiao

Shareholders

  • CHEARAVANONT FAMILY (18.9%)
  • The Vanguard Group, Inc. (2.6%)
  • Capital Research & Management Co. (Global Investors) (2.0%)
  • JPMorgan Investment Management, Inc. (1.8%)
  • BlackRock Fund Advisors (1.7%)
  • Baillie Gifford & Co. (1.6%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (1.3%)
  • Capital Research & Management Co. (World Investors) (1.2%)
  • Hang Seng Investment Management Ltd. (1.1%)
  • APG Asset Management NV (0.9%)

Contact Details

  • Website:http://www.pingan.com
  • Address: Ping An Finance Center, 47-48-108-109-110-111-112 Floor, Shenzhen, 518033, China
  • Phone: +86.400.8866.338

Related Companies

  • Shenzhen Sheng Jun Investment Management Co., Ltd.
  • Jiaxing Yihao Ping An Jishi Equity Investment Mgmt Co., Ltd.
  • Ping An Urban Construction Technology (Shenzhen) Co.,Ltd.
  • Helios P.A. Co., Ltd.
  • Ping An Pay Electronic Payment Co., Ltd.
  • Ping An International Financial Leasing (Shenzhen) Co., Ltd.
  • Ping An International Commercial Factoring (Tianjin) Co.,Ltd.
  • Guangzhou Ping An Good Loan Microfinance Co., Ltd.
  • Zhuhai Hengqin Ping An Money Micro Loan Co., Ltd.
  • Fuer Insurance Broker Co.,Ltd.
  • Pingzheng Securities(HK) Co., Ltd.
  • Ping An Capital of China(HK) Co., Ltd..
  • Ping An Futures(HK) of China Co., Ltd
  • Shanxi Jinjiao Expressway Co., Ltd.
  • Ping An Wealthtone Investment Management Co., Ltd.
  • Pingan Haofang (Shanghai) E-commerce Co., Ltd.
  • Shenzhen Ping An New Capital Investment Co., Ltd.
  • Pingan Capital Co. Ltd.
  • Ping An Digital Economic Research Center
  • Ping An Property Insurance Co. of China Ltd.
  • Ping An Stock Preferred No 3 Stock Pension Product
  • Shenzhen Qianhai Credit Information Center Co., Ltd.
  • Ping An Technology Hong Kong
  • Shenzhen City Shenglu Enterprise Management Co. Ltd.
  • Ping An International Smart City Technology Co., Ltd.
  • Ping an Property & Casualty Insurance Company of China Ltd. (D
  • Ping An Insurance (Group) Company of China Ltd. (DSG)
  • Ping An International Financial Leasing (Tianjin) Co., Ltd.
  • Shanghai Tianhe Insurance Broker Co., Ltd.
  • Ping An Insurance (USA) Co. Ltd.

Competitors

  • Prudential plc
  • China Life Insurance Co. Ltd. Class H
  • X Financial Sponsored ADR Class A
Last Updated on 26 Feb, 2021

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more