TOPIC

/ company

Ping An Insurance

Ping An Insurance is a financial conglomerate with holdings in banking, asset management, healthcare and insurance. The company, which has roots in the property and casualty insurance sector in Shenzhen, is China's largest insurer by market capitalisation.

Chairman / President

Ma Mingzhe

CEO / Managing Director

Xie Yonglin

CFO / Finance Director

Zhang Zhichun

Industry

Financial Services

Website

pingan.com

Headquarters address

Ping An Finance Centre, 5033 Yitian Road, Futian District, Shenzhen, Guangdong 518048, China

Stock Code

SEHK:2318
SSE:601318

Year founded

1988

last updated:

30 September, 2024

Ping An Insurance

BOC Life offers insurance plans for clients seeking to retire in mainland cities

Around 88,000 Hongkongers aged 65 or above were living in southern Guangdong province in 2022, 11 per cent more than in 2017.

HSBC to rejig into 4 business units, calls Hong Kong ‘strategic priority’

HSBC tops global dividend payout list; Asia-Pacific lags behind rest of world

Buyers from mainland China drive record Hong Kong life insurance sales

Sales surge 12 per cent to US$14.9 billion as mainland visitors continue buying spree to chase better returns and hedge the yuan.

Exclusive | HSBC’s London-based CEO starts work in Hong Kong. Here’s why

A Mandarin-speaking chief executive may go some way to help HSBC mend ties with its biggest shareholder Ping An Insurance (Group), which has been agitating to break up the bank since 2022.

Exclusive | Ping An eyes services for Hongkongers retiring to Greater Bay Area

China’s largest insurer sees opportunities serving Hongkongers who are living in the mainland cities of the Greater Bay Area – a group that has grown 11 per cent in the last five years.

Ping An Insurance beats forecasts with best profits in 4 years on robust sales

China’s biggest insurer reported a 6.8 per cent gain in interim earnings, its best half-yearly performance in four years amid analysts’ pessimistic forecasts.

China’s top insurer Ping An seeks US$3.5 billion via convertible bond sale

Company joins a raft of Chinese firms including JD.com, Alibaba and Trip.com in tapping the cheaper funding source amid high interest rates.

China’s Ping An sells US$50 million in HSBC shares after protest vote

Insurer has sold about 5.6 million HSBC shares, reducing its stake in the lender to 7.98 per cent from 8.01 per cent, according to an exchange filing.

Exclusive | Ping An exploring ways to expand in Hong Kong, Greater Bay Area: co-CEO

Ping An, China’s largest insurer by market capitalisation, is exploring ways to further expand operations in Hong Kong and the Greater Bay Area, its newly appointed co-CEO said.

Chinese insurance giant Ping An’s profit falls to 5-year low

Ping An, China’s largest insurer by market capitalisation, said its earnings fell for 2023 to their lowest level in five years, as strong sales of new policies were offset by setbacks in its asset management and technology investment businesses.

China’s Ping An Bank names 41 mainland developers in funding support list

The Chinese lender has put 41 developers on a list of property firms eligible for its funding support, a shift towards more lending to a sector in crisis following government steps to staunch the pain.

Ping An denies reports it will take over Country Garden and assume its debts

Ping An Insurance denies report that it has been asked by Beijing to take over Country Garden and assume the distressed developer’s debts, and confirmed it holds no shares in the company.

Exclusive | Ping An Insurance sees medical, healthcare as growth engine in next decade

Ping An Insurance (Group) will focus on medical services and healthcare coverage over the next 10 years to capture the opportunities in China’s ageing population, co-CEO Jessica Tan says

Ping An’s profit slips 1% as tech earnings drop offsets new policy sales

China’s largest insurer by market cap reported a 1.2 per cent decline in first-half profit, as strong sales of new insurance policies were offset by a sharp fall in earnings in its asset management and technology businesses.

HSBC’s second-quarter profit beats estimates on gains from higher interest rates

HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.

Hong Kong virtual bank Ping An OneConnect to expand lending to retail SMEs

Ping An OneConnect Bank, the Hong Kong virtual lender indirectly owned by Ping An Insurance, plans to increase lending to SMEs in the retail sector to capture growth opportunities in the post-Covid-19 era, its CEO said.

What next for HSBC after stopping Ping An from carving up top Hong Kong lender?

HSBC’s Asia operations are ‘motoring’ as the lender looks to future growth from its biggest revenue driver, but will the bank’s improved performance and promises of bigger dividend payout be enough to satisfy unhappy investors?

HSBC investors reject proposal to spin off Asia business, raise dividends

A group of minority shareholders had called for the bank to consider radical change, including spinning off its Asia business. HSBC’s biggest shareholder Ping An Insurance Group has also been pushing the lender to make changes to enhance shareholder value.

Our strategy is working, CEO says as HSBC posts better-than-expected first quarter

HSBC’s pre-tax profit rose to US$12.9 billion, beating analysts’ expectations. The bank said it would pay its first quarterly dividend since 2019 of 10 US cents a share.

Ping An continues war of words with HSBC over proposed Asian arm listing

Ping An Insurance Group, China’s biggest insurer, said its recommendation to list HSBC’s Asian operations in Hong Kong would not result in value destruction or higher costs for the bank.

HSBC pushes back on Ping An’s claims on spin-off of Asian business

Structural reforms proposed by Ping An Insurance Group, including a spin-off of HSBC’s Asian business, would “significantly dilute” HSBC’s international business model, the London-based lender said.

Ping An calls for HSBC to separately list Asian arm in Hong Kong

Ping An In, HSBC’s biggest shareholder, said the bank should remain a majority shareholder of a separately listed Asia business as part of a restructuring, similar to its majority stake in Hang Seng Bank.

HSBC’s sale of French retail business in jeopardy

HSBC’s sale of its French retail banking business is ‘less certain’ as a sharp rise in interest rates has increased capital requirements for its Cerberus-backed buyer, the bank said.

HSBC tells investors to reject shareholder proposals on dividends, restructuring

HSBC’s board of directors has recommended that investors reject shareholder proposals that are calling for it to increase dividend payments and consider a radical restructuring.

Exclusive | Ping An adds property assets to investment portfolio, steers clear of developers

Ping An Insurance (Group) has increased its investments in rental income property while cutting exposure to developers after taking a massive hit on China Fortune Land Development.

Exclusive | Ping An on the hook for 23 per cent of Hong Kong hotel’s fire damage

A unit of China’s biggest insurance group has confirmed it provides cover for the under-construction Kimpton Hotel that was engulfed by fire last week. However, reinsurance means it will pay about a quarter of the possible US$64 million claim.

Hong Kong hotel blaze could lead to record insurance payout, expert says

The claim could run as high as US$64 million because the project was 90 per cent complete, says Chan Kin-por, who represents the insurance industry in Hong Kong’s legislature.