Ping An Insurance (Group) Co., Ltd. (referred to as "Ping An Group") has released its financial and operational performance report for the first half of 2024. The report shows that the group's attributable operating profit to shareholders was RMB 78.482 billion, a year-on-year decrease of 0.6%. The annualized return on investment is 16.4%, and the plan is to distribute a mid-term cash dividend of RMB 0.93 per share. In terms of business performance, the new business value of life insurance and health insurance business reached RMB 22.32 billion, a year-on-year increase of 11.0%; insurance service income in the property and casualty insurance business increased by 3.9% year-on-year; the net profit of the banking business was RMB 25.879 billion, a year-on...Show More

Ping An Insurance (Group) Co., Ltd. (referred to as "Ping An Group") has released its financial and operational performance report for the first half of 2024. The report shows that the group's attributable operating profit to shareholders was RMB 78.482 billion, a year-on-year decrease of 0.6%. The annualized return on investment is 16.4%, and the plan is to distribute a mid-term cash dividend of RMB 0.93 per share. In terms of business performance, the new business value of life insurance and health insurance business reached RMB 22.32 billion, a year-on-year increase of 11.0%; insurance service income in the property and casualty insurance business increased by 3.9% year-on-year; the net profit of the banking business was RMB 25.879 billion, a year-on-year increase of 1.9%; the net profit of the asset management business was RMB 1.685 billion, a year-on-year decrease of 14.7%. In terms of technology business, the service volume of AI customer service was approximately 0.87 billion times, accounting for 80% of the total customer service volume of Ping An Group; the intelligent anti-fraud and claim interception system reduced losses by RMB 6.1 billion, a year-on-year increase of 4.3%. The group's comprehensive financial model shows that the number of individual customers has reached 0.236 billion, an increase of 1.9% since the end of 2023; the average number of contracts per customer is 2.93, and the average operating profit per customer is RMB 260.37, a year-on-year decrease of 8.2%. In the medical and retirement ecosystem, Ping An Group served nearly 1.6 million customers in the first half of 2024 and integrated services with the group's financial products to enhance customer value and experience. In terms of liquidity and capital resources, the group's comprehensive solvency ratio is 208.8%, far exceeding regulatory requirements; the core solvency ratio is 164.9%, and the available funds of the parent company as of June 30, 2024, are RMB 45.835 billion. In terms of capital allocation, the group manages capital allocation at the group level to ensure sufficient capital support for strategic development and maintain financial flexibility. In terms of risk management, the group has established a comprehensive risk management system, including liquidity risk management, to ensure that the group can meet its financial obligations and maintain stable growth.