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

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Ping An Insurance of China : Announcement of Premium Income

06/11/2021 | 06:12am EDT

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, 2021 to May 31, 2021 are set out as follows:

(in RMB ten thousand)

January-May 2021

Subsidiaries

The accumulated gross premium income

Ping An Property & Casualty Insurance Company of

10,912,612

China, Ltd.

Ping An Life Insurance Company of China, Ltd.

23,596,135

Ping An Annuity Insurance Company of China, Ltd.

1,091,368

Ping An Health Insurance Company of China, Ltd.

508,124

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-May 2021

Life Insurance and Health Insurance Business

Individual business

24,181,898

New business

6,564,973

Renewal business

17,616,925

Group business

1,013,729

New business

1,006,569

Renewal business

7,160

Total

25,195,627

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-May 2021

Ping An Property & Casualty Insurance

Company of China, Ltd.

Automobile insurance

7,367,582

Non-automobile insurance

2,680,559

Accident and health insurance

864,471

Total

10,912,612

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, the PRC, June 11, 2021

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 of the Company are Soopakij Chearavanont, Yang Xiaoping and Wang Yongjian; the independent non-executive directors of the Company are Ge Ming, Ouyang Hui, Ng Sing Yip, Chu Yiyun and Liu Hong.

Disclaimer

Ping An Insurance (Group) Co. of China Ltd. published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 10:11:00 UTC.


© Publicnow 2021
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Sales 2021 922 B 142 B 142 B
Net income 2021 155 B 23 910 M 23 910 M
Net Debt 2021 - - -
P/E ratio 2021 8,47x
Yield 2021 3,39%
Capitalization 1 275 B 164 B 197 B
Capi. / Sales 2021 1,38x
Capi. / Sales 2022 1,30x
Nbr of Employees 362 035
Free-Float 83,7%
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Number of Analysts 26
Last Close Price 71,30 CNY
Average target price 91,95 CNY
Spread / Average Target 29,0%
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Managers and Directors
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