Ping An of China: Forbes 2024 Global 2000 ranked 29th and 1st among Chinese insurance companies

Recently, Forbes magazine released the 2024 "Forbes The Global 2000" list. Thanks to the steady development of operating income, profit, asset scale, market value and other indicators, Ping An ranked 29th in the world. Ranked 2nd among global insurance companies on the list, second only to UnitedHealth Group; Ranked No. 1 among Chinese insurance companies; Among the shortlisted Chinese companies, it ranked 6th

According to the 2024 list, the top six Chinese companies are: Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, PetroChina and Ping An. Among them, Ping An's revenue during the list period was US$136.07 billion, profit was US$11.78 billion, assets were US$1,654.8 billion, and market capitalization was US$105.5 billion.

Ping An adheres to the principle of "finance for the people" and continues to deepen the two-wheel, technology-driven strategy of "comprehensive finance + medical care for the elderly". Adhere to the main business of finance, and always take supporting the real economy and serving the national economy and people's livelihood as the focus of development; Customer-centric, insight into customer needs, and actively provide customers with a "worry-free, time-saving, and money-saving" service experience; With digital operation, we will continue to empower the main financial business to improve quality and efficiency, and help the company's performance achieve steady growth. In 2023, Ping An achieved operating income of RMB913.789 billion, operating profit attributable to the parent company of RMB140.913 billion, total assets of RMB11.58 trillion, and the number of individual customers of nearly RMB232 million.

Ping An attaches great importance to shareholder returns and continues to create value for shareholders and customers. In 2023, Ping An plans to pay a dividend of 1.5 yuan per share, and an annual dividend of 2.43 yuan per share. Based on the operating profit attributable to shareholders of the parent company, the cash dividend ratio was as high as 37.3%, and the cash dividend level has maintained growth for 12 consecutive years.

Supporting the development of the real economy and serving the national strategy, Ping An continued to deepen inclusive finance and provide convenient financial services for micro, small and medium-sized enterprises and new citizens. As of December 31, 2023, Ping An has invested more than RMB8.77 trillion to support the development of the real economy, covering major infrastructure projects such as energy, transportation, and water conservancy, as well as national strategic plans such as the Belt and Road Initiative and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. Ping An Bank has served more than 1,032,200 inclusive small and micro enterprise loan customers, with a loan balance of about 572.1 billion yuan, Lufax Holdings has served 20.94 million customers with a loan balance of 315.4 billion yuan, of which 151,000 small and micro business owners have provided unsecured loan services, and Ping An Property & Casualty has provided risk protection of 200 trillion yuan for 2.29 million small and micro enterprises and 650,000 exclusive risk protection for new citizens, with a total insurance amount of more than 422.5 billion yuan.

Firmly establish the concept of sustainable development and deepen green finance. Ping An continues to absorb the experience of international standard governance, fully integrates ESG core concepts and standards into corporate management, and builds a scientific and professional sustainable development management system in combination with business practices. In 2023, Ping An was ranked first in the comprehensive insurance industry in the Asia-Pacific region by virtue of its excellent management performance in ESG. By the end of 2023, Ping An Insurance of China has invested 725.256 billion yuan in responsible funds, Ping An has invested 128.568 billion yuan in green insurance funds, 37.296 billion yuan in original insurance premium income of green insurance, and 146.345 billion yuan in green banking business.

Ping An actively fulfills its corporate social responsibility, responds to the national rural revitalization strategy, leverages the company's advantages in "comprehensive finance + medical care for the elderly", and continues to carry out the "Three Villages Project". By the end of 2023, Ping An had invested a total of RMB117.882 billion in poverty alleviation and rural industry development, increasing the income of 775,000 rural households by RMB9.3 billion, building 119 Ping An Hope Primary Schools across the country, recruiting 11,721 volunteer teaching volunteers, with a total of more than 438,000 hours of volunteer teaching, and implementing the "Youth Science and Technology Literacy Improvement Program" in 1,039 smart schools, training more than 20,000 rural teachers and benefiting more than 310,000 rural students.

Ping An said that the company has always adhered to the original mission of building a financial business for the people, giving full play to its advantages in finance, medical care and science and technology, fully supporting the development of the real economy, deeply practicing corporate social responsibility, and contributing to the construction of a strong country and the great cause of national rejuvenation with high-quality financial development.

(ENDS)

About Ping An

Ping An Insurance (Group) Co., Ltd. (hereinafter referred to as "Ping An" or "the Group") was founded in Shekou, Shenzhen in 1988 and has grown into one of the three major comprehensive financial groups in mainland China with the support of governments and regulatory authorities at all levels, customers and all walks of life. Ping An is also one of the personal financial life service groups with the most complete financial licenses and the most extensive business scope in China, with total assets exceeding 11 trillion yuan, making it the world's largest insurance group in terms of assets. Ping An ranked 16th in Forbes' "Top 2000 Global Listed Companies" and ranked first among global insurance groups. Ranked 33rd in the "Fortune Global 500" of the United States, and ranked first among global insurance companies. Ping An is listed on the Main Board of the Hong Kong Stock Exchange and the Shanghai Stock Exchange.

Ping An is committed to becoming a world-leading personal financial life service group, adhering to the concept of "technology leading finance, financial service life", continuously deepening "finance + technology", exploring "finance + ecology", focusing on the two major industries of "big financial assets" and "big medical health", creating a brand experience of "professionalism and making life simpler" for customers, and "worry-free, time-saving and money-saving" for customers' financial life.

For more information, please visit the company's official website www.pingan.cn or Ping An's official Weibo http://t.sina.com.cn/pingan/.

Ping An Group Press Contact:

Yang Fei:

Email: [email protected]

Tel: [phone]-623494 Mobile: [phone]

Ping An Group Network Contact:

Li Chi:

Email: [email protected]

Tel: [phone]-627441 Mobile: [phone]