Ping An Posted Robust EV and NBV Growth in 2016, Despite Lowering Investment Return Assumption
Ping An Insurance posted a strong 2016 results, with 15.1% and 15.6% year-on-year growth in net profit and embedded value, respectively. The results highlighted a steadily growing customer base and stronger-than-peer performance of its insurance business. With an 18.4% increase in net profit, the life insurance business was the main driver, contributing 36% of the group’s net profit, fueled by a 27% expansion in agent headcount and 8% growth in agent productivity. Net profit in property-casualty...Ping An Insurance Group Company of China is an insurance company. Co. is engaged in the provision of financial products and services on insurance, banking and investment businesses. Co.'s business activities include investing in financial and insurance enterprises, supervising and managing various domestic and overseas businesses of subsidiaries, and investment deployment. Through its subsidiaries, Co. is also engaged in securities investment and brokerage activities; asset management; futures brokerage activities; property investment, management and leasing; operation of pharmacy; wholesale of medical equipment; and information technology services.
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