Ping An Recorded Accelerating New Business Growth and Better P&C Underwriting Margin
Ping An Insurance’s third-quarter results were strong, with a 17% year-on-year increase in net profit and 48% new business value growth. Net profit growth was flat from the first half, while new business value growth further accelerated from 43% in the first half. The strong growth was attributable to a 7.7% agent productivity growth and robust agent headcount expansion. The improvement in product mix, partially due to accelerating development in the critical-illness insurance business, translat...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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