Latest news with #PingAnInsurance(Group)CompanyofChina
Korea Herald
a day ago
- Business
- Korea Herald
Ping An Ranks 27th on Forbes' Global 2000 List
HONG KONG and SHANGHAI, June 13, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) has risen two spots to rank 27th on Forbes' 2025 Global 2000 list, an authoritative ranking of the world's largest public companies based on a composite score of revenue, profit, assets, and market value. Released on June 12, the latest rankings reflect Ping An's continued growth and strong performance, as the Group moved up two places from last year. Additionally, Ping An secured 5th place among Chinese companies, climbing one spot from the previous year, while maintaining its position as the highest-ranked insurance company in China. The top five Chinese companies in the 2025 rankings are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Ping An. During the period, Ping An reported revenue of US$158 billion, profit of US$17.6 billion, and total assets amounted to US$1.8 trillion. Progress driven by technology-enabled "integrated finance + health and senior care" dual-driver strategy Ping An continues to advance its technology-enabled "integrated finance + health and senior care" dual-driver strategy, driving stable growth across its core businesses. Through its integrated finance model, Ping An has strengthened its engagement with retail customers. As of the end of 2024, Ping An served 242 million retail customers, with 25.6% holding four or more contracts within the Group. Customer retention remained robust at 98.0%. The health and senior care strategy also provided differentiated advantages, with nearly 63% of Ping An's retail customers entitled to service benefits in the health and senior care ecosystem. In transforming and upgrading its core businesses, Ping An harnessed technology to reduce costs, enhance operational efficiency, and strengthen risk management. The number of service cases handled by Ping An's AI service representatives reached approximately 1.84 billion, accounting for 80% of the Group's total customer service volume in 2024. In Life insurance, 93% of policies were underwritten within seconds via smart underwriting, smart claim settlement and smart policy renewal. Moreover, Ping An P&C achieved claims savings of RMB11.94 billion through smart fraud detection, marking a year-on-year increase of 10.4%. In 2024, Ping An achieved an operating profit attributable to shareholders of the parent company of RMB121.862 billion, achieving a year-on-year increase of 9.1%. Net profit attributable to shareholders of the parent company reached RMB126.607 billion, representing a significant year-on-year increase of 47.8%. Revenue totaled RMB1,028.925 billion, up 12.6% year-on-year, while total assets reached RMB12.96 trillion, a 11.9% increase from the beginning of the year. Enhancing customer experience with the "worry-free, time-saving, and money-saving" value proposition Ping An has actively promoted its "worry-free, time-saving, and money-saving" value proposition to enhance customer experience. Under its "worry-free" services, Ping An's auto insurance now offers 82 convenient services, including roadside assistance, vehicle inspections, and chauffeur services, benefiting 236 million users of "Ping An Auto Owner" app. By the end of 2024, Ping An's home-based senior care services had expanded to cover 75 cities nationwide. For "time-saving" initiatives, 93% of the policies were underwritten within seconds through smart underwriting, smart claim settlement and smart policy renewal. Commitment to shareholder returns, communication, and value creation According to its 2024 annual report, Ping An proposed a final dividend of RMB1.62 per share in cash for 2024, bringing the total annual dividend to RMB2.55 per share, a 5% year-on-year increase. The cash dividend payout ratio based on operating profit attributable to shareholders (OPAT) was 37.9%, marking 13 consecutive years of dividend growth. The Group maintains strong communication with shareholders through annual general meetings and investor roadshows. On May 13, 2025, Ping An held its 2024 Annual General Meeting, attended by 117 shareholders. Management addressed 29 questions and suggestions raised by shareholders. Fulfilling corporate social responsibility and supporting economic development As of December 31, 2024, Ping An had invested nearly RMB10.14 trillion to support the real economy. Its green investment of insurance funds reached RMB124.712 billion, while its green loan balance amounted to RMB157.762 billion. In 2024, green insurance premium income totaled RMB 58.608 billion. Through its "Ping An Rural Communities Support", Ping An provided RMB52.014 billion in funding to promote rural industrial vitalization. In addition, MSCI upgraded Ping An's ESG rating to AA, giving it the top spot in the multi-line insurance & brokerage category in the Asia-Pacific region for three consecutive years. The Forbes Global 2000 list, published annually since 2004, evaluates publicly traded companies worldwide based on revenue, profit, assets, and market capitalization. This year's list revealed record-breaking combined figures for the top 2,000 companies, with a total revenue of US$52.9 trillion, profit of US$4.9 trillion, assets of US$242.2 trillion, and market capitalization of US$91.3 trillion. By country, the United States led with 612 companies, followed by China (including Hong Kong) with 317 companies. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 27 th in the Forbes Global 2000 list in 2025 and 53 rd in the Fortune Global 500 list in 2024.
Associated Press
21-05-2025
- Business
- Associated Press
Ping An's EagleX Risk Mitigation Platform Provides Early Warning of Beijing Hailstorm, Company Streamlines Claims Settlement
HONG KONG and SHANGHAI, May 21, 2025 /PRNewswire/ -- On May 13, Beijing was hit by a severe storm in multiple areas, with reports of hailstones exceeding 3 cm in diameter. Ping An P&C, a subsidiary of Ping An Insurance (Group) Company of China, Ltd. ('Ping An', the 'Company' or the 'Group', HKEX: 2318; SSE: 601318) launched its major emergency response plan, coordinating resources across risk control, claims, and product departments. The Company mobilized over 2,000 personnel from 38 branch offices for remote support and swiftly dispatched 43 claims experts from Hebei, Shandong, Henan, Liaoning, and other provinces to Beijing for disaster relief. As of 9 a.m. on May 19, Ping An P&C received 31,000 claims reports, settled 10,400 cases, and paid out RMB62.15 million in compensation. EagleX issued alerts two hours before the storm Ping An P&C's proprietary risk mitigation platform, EagleX, played a critical role. The system detected risks two hours before the hailstorm arrived and sent warnings, disaster prevention guides, and safety tips to 3.17 million individual customers and over 20,000 corporate clients via apps such as Ping An Auto Owner. The alerts helped some customers move their vehicles and secure their properties in time, effectively reducing potential losses. EagleX is an AI-powered risk mitigation service platform developed by Ping An P&C to address climate-related disasters. It integrates cutting-edge technologies such as big data, satellite remote sensing, and machine learning to monitor, assess, and provide early alerts for nine types of natural disasters. It also displays natural disaster risk maps. The system has been widely applied across various insurance products, including agricultural insurance, property insurance, and auto insurance. Claims settlement streamlined to respond quickly to customers' needs Faced with numerous customer claims after the hailstorm, Ping An P&C ensured that reporting channels remained open around the clock, with over 90% of affected customers receiving callbacks on the same day. The Company collaborated with rescue teams and repair shops to prioritize services for damaged vehicles, offering towing, emergency repairs, and direct supply of auto parts, while committing to '1-hour rescue response and 48-hour repair completion'. In the claims process, Ping An P&C introduced 'streamlined claims settlement', which waives proof of accident or weather event. No on-site inspection is necessary, and rescue services are offered for free. For cases involving damages of less than RMB10,000, photo or video evidence is sufficient for claims settlement. In cases of hail damage, the Company is offering specialized services such as instant on-site glass replacement and 'traceless repairs' for minor auto damage. Additionally, customers who have made no claims in the past three years can receive direct approval for expenses under RMB2,000. Ping An P&C will continue to advance claims processing in an orderly manner and, leverage EagleX to further enhance pre-disaster alerts, emergency responses during disasters, and post-disaster claims settlements. The Company aims to help customers reduce losses, enhance risk management capabilities, and safeguard the property of businesses and individuals. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven 'integrated finance + health and senior care' strategy, the Group provides professional 'financial advisory, family doctor, and senior care concierge' services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. For more information, please visit and follow us on LinkedIn - PING AN. View original content: SOURCE Ping An Insurance (Group) Company of China, Ltd.
Yahoo
20-05-2025
- Business
- Yahoo
Ping An Launches AI-Powered "EagleX (Global Version)" Risk Mitigation Service Platform to Address Global Climate Challenges
HONG KONG and SHANGHAI, May 20, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) announced that its subsidiary, Ping An Property & Casualty Insurance (P&C), has officially launched "EagleX (Global Version)". This platform provides global users disaster risk assessments, alerts, and claims services to strengthen their ability to respond to climate-related disasters. As extreme weather events and natural disasters become more frequent worldwide, losses from incidents such as extreme rainfall, floods, heatwaves, droughts, and tropical cyclones have continued to rise. In 2017, Ping An P&C launched "EagleX", pioneering the use of advanced technologies such as big data, meteorological disaster models, satellite remote sensing, and machine learning. The platform leverages over 2 trillion data points covering geography, disasters, meteorology, and insurance. It assesses risks for nine types of natural disasters, such as typhoons and extreme rainfall, and generates visualized risk maps. It also offers 15 types of alerts. Since its launch, the platform has been widely adopted across insurance lines, including agricultural, property, and auto insurance, effectively helping the government, businesses, and individuals reduce disaster-related losses by billions of RMB. In 2024, "EagleX" identified 3,619 high-risk cases for clients and issued a total of 10.5 billion disaster alerts through AI phone calls, mobile apps, and text messages, covering 67 million customers across property, auto, and agricultural insurance. In September, Typhoon Yagi hit Hainan province with severe winds and rainfall. "EagleX" enabled residents and vehicle owners to receive AI phone calls and SMS alerts approximately 72 hours in advance, sending over 24.3 million warnings. Additionally, while underwriting a major hydropower construction project in Pakistan, "EagleX" detected mountain deformation and issued an alert, successfully preventing a landslide and avoiding economic losses of billions of RMB. "EagleX (Global Version)" is China's first risk mitigation service platform independently developed by an insurance company and offered globally. It provides governments, businesses, and individuals worldwide with comprehensive, intelligent risk management services including early disaster identification, efficient emergency response, and post-disaster claims verification to minimize losses The global version currently features three core functions: Natural Disaster Risk Maps: Generates six types of digital risk maps such as earthquakes, extreme rainfall, typhoons, floods, with global data coverage. The platform can identify risks based on specific addresses and supports risk identification, underwriting, pricing, and loss prevention. Disaster Alert: Delivers timely warnings by leveraging extensive meteorological data for monitoring, forecasting, and historical analysis of multiple disasters. Users receive real-time alerts for typhoons, extreme rainfall, floods, and other significant weather events. Satellite Monitoring: Integrates global multi-source remote sensing data to create a digital satellite imaging platform, supporting remote investigations and claims verification in various business scenarios. As China's second-largest property and casualty insurer[1], Ping An P&C underwrote 2,826 projects across 125 countries in 2024, with total sum insured reaching US$264 billion. By harnessing technological innovations such as big data, cloud computing, and the Internet of Things, the Company is advancing the risk mitigation model of "insurance + technology + service" to provide comprehensive protection for both corporate and individual clients. Ping An P&C stated, "Looking ahead, we will continue to leverage Ping An's technological strengths to drive innovation, optimize our platform's functions, and deliver increasingly smart, precise, and efficient natural disaster risk management services to global users, thus safeguarding urban safety, corporate stability, and sustainable social development." [1] Based on insurance premium income. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. For more information, please visit and follow us on LinkedIn - PING AN. View original content: SOURCE Ping An Insurance (Group) Company of China, Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
