Ping An Insurance Posted Strong Growth in New Business Value
With 17.7% and 42.7% respective year-on-year increases in net profit and new business value, Ping An Insurance’s first-half results again stood out relative to its peers. The above-expectations NBV growth was fueled by 43% growth in new premium income and a relatively steady new business margin of 38.8%, indicating that China’s insurance demand remains in the fast-growth track. Ping An has been rapidly expanding its agent force, with total agent headcount exceeding 1 million. The rapid expansion...
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