Ping An Insurance Upholds Title as China’s Premier Insurance Brand
Ping An Insurance (Group) Company of China, Ltd. is a renowned entity in the financial and insurance sector. The company has once again been distinguished as China’s Most Valuable Insurance Brand, marking the eighth year of its reign according to Brand Finance. The Global 500 Report of the World’s Most Valuable and Strongest Brands for 2024 has placed its brand value at an impressive US$44.36 billion. This valuation positions the company at 31st globally, 2nd among insurance brands, and 6th among global financial enterprises.
Throughout the previous year, the company adeptly maneuvered through a challenging external environment, upholding its brand promise of “Expertise makes life simple.” Its steadfast adherence to the “integrated finance + healthcare” strategy has been pivotal in preserving brand resilience. By broadening its comprehensive financial services within diverse ecosystems, the company has delivered a streamlined experience to its customers, enhancing both time and cost efficiency. As of September of the previous year, it boasted a substantial retail customer base of nearly 230 million, with an average of 2.99 contracts per customer. This customer-focused strategy has been crucial in fortifying its product and service ecosystem.
The company’s technology-driven strategy has borne fruit, with an operating profit attributable to shareholders of the parent company reaching RMB112.48 billion and an annualized operating return on equity (ROE) of 16.7%. The net assets attributable to shareholders of the parent company have exceeded RMB900 billion. This approach has not only bolstered financial performance but also deepened customer relationships, with almost 64% of its financial services retail customers also engaging with its healthcare services.
The company’s commitment to corporate social responsibility aligns with its goals for societal progress and sustainable development. Its management framework incorporates ESG principles, which has led to an A rating from MSCI ESG Ratings for the second consecutive year. Its green insurance premium income has reached RMB26.28 billion, with a green loan balance of RMB136.04 billion and green investments of insurance funds at RMB132.31 billion. Furthermore, through its Ping An Rural Communities Support program, it has allocated RMB107.90 billion since 2018 to aid rural industrial revitalization.
The company’s strategy, centered on meeting customer needs and advancing financial business development with Chinese characteristics, aims to cultivate a national brand that is trusted by the government, supported by the public, and adaptable to the evolving times. By promoting high-quality development in the financial sector, it strives to contribute significantly to the nation’s robust development and rejuvenation. Its strategy is meticulously crafted to generate long-term, stable, and sustainable value for customers, employees, shareholders, and society.
Ping An Insurance has reinforced its leadership in the insurance industry by not only retaining its title as China’s Most Valuable Insurance Brand but also by showcasing unwavering dedication to integrated financial and healthcare services. Its emphasis on customer-centric solutions, sustainable practices, and social responsibility underscores its commitment to societal progress and national development. The company’s innovative and responsible business approach continues to define its legacy as a trusted national brand.
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