Ping An saw steady growth in both the life insurance and the P&C insurance segments.
Though no-moat Ping An Insurance's 17.4% year-on-year net profit growth was not outstanding compared with its close competitors, its profit growth is more comparable at 41% if excluding one-off gains from the business restructure of Puhui Finance in first-half 2016. The past results failed to keep pace with the market's upbeat expectation for another quarter of strong growth in new business value, or NBV. NBV growth slowed to 35.5% versus 49% and 46% in 2016 and first half. Management explained ...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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