Ping An Insurance known also as Ping An of China (), full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

whose subsidiaries provide

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

banking A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

financial Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

services. The company was founded in 1988 and is headquartered in

Shenzhen Shenzhen is a prefecture-level city in the province of Guangdong, China. A Special economic zones of China, special economic zone, it is located on the east bank of the Pearl River (China), Pearl River estuary on the central coast of Guangdong ...

. "Ping An" literally means "safe and well". It is ranked as China’s 6th largest company. In 2024, Ping An ranked 29th on the Forbes Global 2000 list and 53rd on the

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by '' Fortune'' magazine. Methodology Until 1989, it listed o ...

list. Ping An has been ranked by Brand Finance as the world's most valuable insurance brand for six years running. Ping An Insurance is one of the top 50 companies in the Shanghai Stock Exchange. It is also a constituent stock of Hang Seng Index, an index of the top companies in the Hong Kong Stock Exchange. Ping An Insurance was also included in the pan-China stock indices CSI 300 Index, FTSE China A50 Index and Hang Seng China 50 Index.

Business

Ping An Insurance Group started off in 1988 as a property and casualty insurance company, later diversifying into insurance, banking, asset management, financial services and healthcare services. Ping An has licenses to offer financial services, including insurance, banking, trusts, securities, futures and financial leasing. Ping An has also adopted an integrated financial model on a mix of business lines, including life insurance, P&C insurance, banking and securities. The company invests 1% of its revenues into R&D each year to branch out its businesses, adopt technology and support the building of its healthcare and senior care ecosystem. Since the mid-1990s, Ping An has been subsequently taken investments from overseas firms such as

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

and

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

in 1994. In 2002

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

took a large equity interest in Ping An. In early 2008, Ping An agreed to take a 50% share in Fortis Investments, a subsidiary of

Fortis Fortis may refer to: Business * Fortis (Swiss watchmaker), a Swiss watch company * Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock * Fortis Healthcare, a chain of hospitals in ...

, which had taken over ABN AMRO Asset Management as a result of the split up of ABN AMRO in late 2007; the deal was canceled in October 2008. In June 2009, Ping An became a strategic investor in

Shenzhen Development Bank Shenzhen Development Bank Co., Ltd. was a bank based in Shenzhen, Guangdong ) means "wide" or "vast", and has been associated with the region since the creation of Guang Prefecture in AD 226. The name "''Guang''" ultimately came from Guangxin ...

(now part of Ping An Bank). In 2012, the company created Ping An Ventures, a $150M VC fund which invested in over 100 companies, such as Didi Chuxing, Hycor Biomedical,

Meituan Meituan ( zh, p=Měituán, c=美团, literally "beautiful group"; formerly Meituan–Dianping, literally "beautiful group–reviews") is a Chinese shopping platform for locally found consumer products and retail services including entertainment ...

Oscar Health Oscar Health, Inc. is an American health insurance company, founded in 2012 by Joshua Kushner, Kevin Nazemi and Mario Schlosser, and is headquartered in New York City. The company focuses on the health insurance industry through telemedicine, ...

, Payoneer, Taulia, and others. In 2014, together with SBT Venture Capital Ping An led a $27M funding round for eToro. In 2016, Ping An Healthcare and Technology (Ping An Good Doctor) completed a Series A funding round of a total of US$500 million, making its valuation hit US$3 billion. Ping An also bought a 48% stake in Chinese car website Autohome Inc. from Telstra Corp. for $1.6 billion. In February 2018, three technology subsidiaries of Ping An completed private placement financing, which received positive responses particularly from international institutional investors. They were Ping An Healthcare and Technology Company Limited, Ping An Medical and Healthcare Management Co., Ltd and OneConnect Financial Technology Co., LTD. In June 2019, Ping An One Connect Bank officially commenced operation after receiving a virtual banking license from the

Hong Kong Monetary Authority The Hong Kong Monetary Authority (HKMA) is the central bank, central banking institution of Hong Kong. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merge ...

in May 2019. In December 2019, OneConnect Financial Technology was listed on the New York Stock Exchange. In 2019, Ping An became the first insurance company from mainland China to be selected for the Dow Jones Sustainability Emerging Markets Index (DJSI). In October 2020, Lufax, one of China's leading online wealth management platform, listed on the New York Stock Exchange. In May 2021, Ping An released the Ping An Zhen Yi Nian healthcare brand. The product line was mainly targeted at supporting urban elderly care communities, and integrates corporate finance, medical care and health technology. In July 2021, Ping An and Shionogi signed agreements to launch joint ventures in Shanghai and Hong Kong. Ping An-Shionogi is a Healthcare as a Service (HaaS) enterprise, an integrated medical and healthcare platform for public health and patients. The joint venture is a collaboration between the Ping An and Shionogi on drug research, development, production and sales. In October 2021, Ping An Bank rolled out services under the Cross-boundary Wealth Management Connect pilot scheme. In January 2022, Ping An Life (a subsidiary of Ping An) received approval from the CBIRC for its investment in New Founder Group. In July 2022, OneConnect (Ping An's fintech subsidiary) listed on the main board of the Hong Kong Stock Exchange by way of introduction and dual-primary listing. In February 2023, Ping An Bank Hong Kong Branch was granted an insurance agency license by the Hong Kong Insurance Authority. In November 2023 it was entered into the MSCI KLD 400 Social Index. As of 30 June 2024, Ping An has grown its health ecosystem in China by partnering with the country’s top 100 hospitals and 3A hospitals, 50,000 in-house and contracted external doctors and 233,000 pharmacies. Ping An's home-based senior care services covered 64 cities across China with over 120,000 customers entitled to the benefits. Customer's entitled to service benefits in the healthcare and elderlycare ecosystem accounted for over 68% of Ping An Life's new business value in 2024. In February 2025, Ping An Healthcare and Technology announced that its artificial intelligence model and its platform designed for doctors now have built in access to DeepSeek's model. Ping An said access to DeepSeek's model will help to further enhance its medical services by assisting doctors in making more accurate diagnoses and providing personalized health management. Ping An Healthcare and Technology is undergoing further research and development of AI technology.

Ownership

Ping An is a publicly listed company. As of 30 June 2024, CP Group Ltd. indirectly held 964,427,077 H shares of the Company, representing approximately 5.30% of the total share capital of the Company. Ping An has the classification of a civilian-run enterprise. Richard McGregor, author of '' The Party: The Secret World of China's Communist Rulers'', said that "the true ownership of large chunks of its shares remains unclear" and that the ownership of Ping An is a "murky structure". McGregor
p. 204
-205. In October 2012, ''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'' reported that relatives and associates of Chinese

Premier Premier is a title for the head of government in central governments, state governments and local governments of some countries. A second in command to a premier is designated as a deputy premier. A premier will normally be a head of govern ...

Wen Jiabao Wen Jiabao ( zh, s=温家宝, p=Wēn Jiābǎo; born 15 September 1942) is a Chinese retired politician who served as the 6th premier of China from 2003 to 2013. In his capacity as head of government, Wen was regarded as the leading figure behin ...

controlled stakes in Ping An worth at least US$2.2 billion in 2007.

Markets

Since 24 June 2004 Ping An has been listed on the Stock Exchange of Hong Kong (subsidiary of Hong Kong Exchanges and Clearing) as SEHK: 2318. Since 1 March 2007, it has a listing on the Shanghai Stock Exchange as SSE: 601318. Since 19 June 2023, its yuan-denominated shares has a listing on the Stock Exchange of Hong Kong as SEHK: 82318. Ping An replaced Anhui Expressway in the Hang Seng China Enterprises Index (HSCEI) in 2004. The Hang Seng Index Services Company announced on 11 May 2007, that Ping An would join as Hang Seng Index Constituent Stock effective on 4 June 2007.

Operations

Ping An has operations across all of the People's Republic of China, and in Hong Kong and Macau through Ping An Insurance Overseas. Lufax, OneConnect and Ping An Good Doctor have now expanded overseas. OneConnect serves 100+ customers in 20 countries and regions mainly in Southeast Asia.

Notes

External links