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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Ping An Insurance (Group) Company of China, Ltd.    2318   CNE1000003X6

PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.

(2318)
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Ping An Insurance : Announcement of Premium Income

11/12/2020 | 05:16am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ANNOUNCEMENT OF PREMIUM INCOME

Pursuant to the "No. 2 Interpretation of Accounting Standards for Business Enterprises" and the "Regulations regarding the Accounting Treatment of Insurance Contracts" of the Ministry of Finance of the PRC, the accumulated gross premium incomes of the subsidiaries of the Company for the period from January 1, 2020 to October 31, 2020 are set out as follows:

(in RMB ten thousand)

January-October 2020

Subsidiaries

The accumulated gross premium income

Ping An Property & Casualty Insurance Company of

24,066,326

China, Ltd.

Ping An Life Insurance Company of China, Ltd.

40,678,522

Ping An Annuity Insurance Company of China, Ltd.

2,330,298

Ping An Health Insurance Company of China, Ltd.

808,917

The details of the accumulated gross health insurance business for the follows:

premium income of the life insurance and abovementioned period are set out as

(in RMB ten thousand)

January-October 2020

Life Insurance and Health Insurance Business

Individual business

41,746,163

New business

10,450,298

Renewal business

31,295,865

Group business

2,071,574

New business

2,059,086

Renewal business

12,488

Total

43,817,737

Notes:

  1. The Company conducts life insurance and health insurance business through Ping An Life Insurance Company of China, Ltd., Ping An Annuity Insurance Company of China, Ltd. and Ping An Health Insurance Company of China, Ltd. The accumulated gross premium income for life insurance and health insurance business of the Company is the sum of the gross premium income of each of these three subsidiaries.
  2. The Company has categorized the policyholders of the life insurance and health insurance business into individual business and group business.

The details of the accumulated gross premium income of Ping An Property & Casualty Insurance Company of China, Ltd. for the abovementioned period are set out as follows:

(in RMB ten thousand)

January-October 2020

Ping An Property & Casualty Insurance

Company of China, Ltd.

Automobile insurance

16,222,910

Non-automobile insurance

6,439,563

Accident and health insurance

1,403,853

Total

24,066,326

Investors are advised to take note that the abovementioned information has not been audited.

By order of the Board

Sheng Ruisheng

Joint Company Secretary

Shenzhen, PRC, November 12, 2020

As at the date of this announcement, the Executive Directors of the Company are Ma Mingzhe, Xie Yonglin, Tan Sin Yin, Yao Jason Bo and Cai Fangfang; the Non-executive Directors are Soopakij Chearavanont, Yang Xiaoping and Wang Yongjian; the Independent Non-executive Directors are Ge Ming, Ouyang Hui, Ng Sing Yip, Chu Yiyun and Liu Hong.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Ping An Insurance (Group) Co. of China Ltd. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 10:06:01 UTC


© Publicnow 2020
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Sales 2020 768 B 118 B 118 B
Net income 2020 132 B 20 312 M 20 312 M
Net Debt 2020 - - -
P/E ratio 2020 13,1x
Yield 2020 2,24%
Capitalization 1 787 B 230 B 276 B
Capi. / Sales 2020 2,33x
Capi. / Sales 2021 2,21x
Nbr of Employees 372 194
Free-Float 82,8%
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Mean consensus BUY
Number of Analysts 27
Average target price 93,68 CNY
Last Close Price 96,00 CNY
Spread / Highest target 21,9%
Spread / Average Target -2,42%
Spread / Lowest Target -17,5%
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Managers and Directors
NameTitle
Bo Yao Co-CEO, CFO, Executive Director & Chief Actuary
Sin Ying Tan Co-CEO, COO, Executive Director & Executive VP
Yong Lin Xie President, Co-CEO & Executive Director
Ming Zhe Ma Chairman
Jian Yi Sun Chairman-Supervisory Board