Ping An Insurance (Group) Company of China has announced its financial results for the year ended December 31 2024. Asia’s biggest insurer said operating profits were up 9.1% and revenue increased 10%.
“Ping An achieved high-quality development characterized by steady progress, deepened strategy, and reform and innovation,” said a media release from Hong Kong.
The giant insurer’s annual revenue was RMB 1,141,346 million with a full-year cash dividend for shareholders of RMB 2.55 per share, up 5% year on year.
The headline for the release said net profit attributable to shareholders “Surges 47.8% YoY.”
The announcement said the firm “continued to deepen transformation and significantly improved the performance and productivity of its agency channel.”
The release said in 2024 agency channel NBV “on a like-for-like basis” grew 26.5% year on year and NBV per agent “surged 43.3% year on year.”
Ping An, said the release, also “delivered excellent insurance funds investment results, ranking among the top in the market.” The Group’s insurance funds investment portfolio grew more than 21% to over RMB 5.73 trillion.
The release also said Ping An continued to strengthen its “integrated finance + health and senior care” strategy.
The release said “Ping An will fully implement the Communist Party of China (CPC) Central Committee’s decisions and deployment for economic work in 2025.”
