Ping An Insurance has secured the 53rd position on the prestigious Fortune 500 list for 2024, marking its 15th consecutive year on the list. The company reported a substantial revenue of $14.6 billion this year.
The financial giant also distinguished itself by ranking 9th globally among financial enterprises and 5th among Chinese financial institutions.
In terms of operational performance, Ping An achieved an impressive operating profit of $16.4 billion (RMB 117.99 billion), underscoring its robust financial health with total assets exceeding $1.6 trillion (RMB 11.58 trillion).
Ping An Property & Casualty Insurance saw its revenue reach $43.6 billion (RMB 313.46 billion), reflecting a notable year-on-year increase of 6.5%. Meanwhile, the New Business Value (NBV) in life and health insurance surged by 36.2% on a comparable basis, buoyed by a 40.3% increase in NBV through agents in 2023.
A significant portion of Ping An Life’s NBV was attributed to customers benefiting from services in the healthcare and senior care ecosystem, amounting to over 73%.
The company’s commitment to economic growth was further evident with cumulative investments surpassing $1.2 trillion (RMB 8.77 trillion) by the end of 2023. Additionally, Ping An’s focus on sustainability was underscored by green insurance premium income amounting to $5.2 billion (RMB 37.30 billion).
Ping An’s consistent presence and stellar performance on the Fortune 500 list affirm its status as a global leader in the financial and insurance sectors, maintaining strong momentum in revenue growth and strategic investments.
(Note: Exchange rate used: $1.00 = RMB 7.18)
