Ping An Insurance (Group) Company of China Ltd has released its 2024 Sustainability Report, outlining developments in education, digital financial services, green investment, and responsible governance.
Now in its 16th year, the report underscores Ping An’s ongoing strategy of combining financial and healthcare services through digital integration.
In 2024, Ping An commemorated three decades since the launch of its Hope Primary School program, initiated in 1994 to support rural education.
During the year, the company facilitated infrastructure upgrades at 22 schools, developed athletic facilities for five institutions, and sent nearly 1,000 volunteers to teach in rural communities, accumulating over 6,700 instructional hours.
The insurer also extended its scholarship programs to over 1,000 students and provided teacher training to nearly 300 rural educators. By year-end, the initiative had reached 119 schools nationwide, involved more than 12,000 volunteer teachers, and benefitted over 310,000 students.
“As long as there is still one student at Ping An Hope Primary School, our public welfare volunteer teaching will continue,” said Ma Mingzhe, chairman of Ping An Group.
Ping An continued to promote a customer-centric model emphasising efficient, consolidated financial and health services.
The firm advanced its “worry-free, time-saving, and cost-saving” service approach, built around three core offerings:
The company's “Customer Listening Day” campaign in 2024 involved direct engagement by executives and staff to better align products and services with customer feedback.
By the end of 2024, Ping An served 242 million retail clients, with more than a quarter maintaining four or more active contracts.
The company’s healthcare ecosystem provided services to 21 million life insurance customers and leveraged a network of 50,000 medical professionals and partnerships with China’s leading hospitals.
“Customers’ voices, needs, and suggestions are the guide for our service reform and product upgrade,” said Michael Guo, co-CEO of Ping An Group.
Ping An posted a 9.1% year-on-year increase in operating profit, totalling RMB121.9 billion, and reported net income of RMB126.6 billion, up nearly 48%. Dividend payouts rose for the 13th consecutive year, reaching RMB2.55 per share.
Technology remained a cornerstone of Ping An’s business model. Its AI platforms handled 80% of customer service interactions and supported applications such as intelligent underwriting. In risk management, the firm’s proprietary disaster warning system distributed over 10 billion alerts to businesses and individuals in 2024.
The company, which earned top environmental, social, and governance (ESG) rating in Asia Pacific from global investment index provider MSCI for the third consecutive year, reported a decrease in greenhouse gas emissions of 8% from the previous year and continued investment in renewable energy, green loans, and low-carbon technologies. As part of its carbon neutrality plan, Ping An expanded its use of green electricity and promoted low-emission infrastructure across operations.
Ping An broadened access to insurance for underserved populations, offering new rural policies and increasing its support for small and microenterprises. The firm processed more than 900,000 claims from small business clients and issued thousands of rural revitalisation debit cards.
In its workforce development programs, Ping An emphasised training and retention, providing an average of 49 hours of training per employee and offering long-term incentive plans. Women represented 51% of the total workforce and 36% of senior management roles. Employee satisfaction scores rose for a second consecutive year.
To address emerging risks, Ping An strengthened its information security framework, conducted cybersecurity exercises, and advanced its AI governance standards, including ethical principles related to transparency and safety in automated decision-making.
In rural health and community development, the insurer delivered more than RMB52 billion in aid and conducted a range of public health services, including free checkups and health education events. Company volunteers supported initiatives spanning education, disaster response, and blood donation.
Ping An Healthcare and Technology Co Ltd also issued its 2024 ESG report in March under its “CARE” framework, focusing on digital health, data responsibility, sustainability, and community involvement.
