Ping An Insurance (Group) Company of China, Ltd (“Ping An” or “the Company” or “the Group”) was established in 1988 in Shekou, Shenzhen. The Group is the first insurance company in China to have a shareholding structure. Today, it has developed into an integrated financial services conglomerate with three core businesses: insurance, banking, and investment. The Group’s shares are listed on the Hong Kong Stock Exchange under the stock code “2318” and on the Shanghai Stock Exchange under “601318”.
Ping An's mission is to fulfill its commitments to its investors by enhancing asset value and delivering stable returns, to customers by providing the best service with integrity, and to society by giving back to the community and doing our part in nation building. Ping An carries out its business under the guiding principle of “Expertise Creates Value”. Its actions are guided by its belief in optimizing value. In the pursuit of excellence, the Company promotes among employees personal integrity and value by highlighting virtues such as “honesty, trustworthiness, entrepreneurship, and achievement,” and team qualities such as “unity, vitality, learning and innovation”. The mechanisms of “competition, motivation, elimination” are implemented, together with a distinctive, professional, advanced and long-term business philosophy.
Ping An's vision is to become an internationally leading integrated financial services group by leveraging its insurance, banking and investment businesses to achieve long-term, stable and healthy growth while creating sustainable and greater value for its stakeholders.
Through its subsidiaries such as Ping An Life Insurance Company of China, Ltd. (“Ping An Life”); Ping An Property & Casualty Insurance Company of China, Ltd. (“Ping An Property & Casualty”); Ping An Annuity Insurance Company of China, Ltd.(“Ping An Annuity”); Ping An Health Insurance Company of China, Ltd. (“Ping An Health”); Shenzhen Development Bank Co., Ltd. (“Shenzhen Development Bank”, or “SDB”); Ping An Bank Co., Ltd. (“Ping An Bank”); Credit Guarantee Insurance Business Unit of Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An Consumer Finance), or PA P&C CGI Business Unit (PACF); China Ping An Trust Co., Ltd. (“Ping An Trust”); Ping An Securities Co., Ltd. (“Ping An Securities”); Ping An of China Securities (Hong Kong) Co., Ltd; Ping An Asset Management Co., Ltd.(“Ping An Asset Management”); Ping An of China Asset Management (Hong Kong) Co., Ltd. (“Ping An Asset Management, Hong Kong”); Ping An Futures Co. Ltd. (“Ping An Futures”); and Ping An-UOB Fund Management Company Limited (“Ping An-UOB Fund”), the Group provides comprehensive products and services in insurance, banking and investment to more than 70 million individual and corporate customers.
Ping An has about 486,911 life insurance sales agents and 175,136 full-time employees. As at 31 December 2011, the Group’s consolidated total assets and equity attributable to shareholders of the parent company amounted to RMB2,285.42 billion and RMB130.87 billion, respectively. Both Ping An Life and Ping An Property & Casualty are ranked as the second largest in China in terms of premium income.
Ping An was ranked No.147 in Forbes’ Global 2000 league table, No.107 in The Financial Times Global 500 list, and No.328 in U.S. Fortune Magazine’s Global 500 Leading Companies ranking and No.1 among China’s non-State owned enterprises. Apart from these accolades, Ping An was ranked No. 83 in both The Financial Times’ Top 100 Global Brands and WPP Millward Brown’s BrandZ Top 100 Most Valuable Global Brands.
As a professionally-managed and world-class organization, Ping An is the first Chinese insurer to have introduced foreign investors into its shareholding structure. Operating under the principle of “Group Holdings, Segment Operation, Segment Supervision, Group Listing”, Ping An has been able to ensure the Group as a whole is moving towards its goal, upon a foundation that unites strategy, branding and corporate culture. Its financial platform is the most integrated among China’s financial services sector. Its national back office support operation in Zhangjiang, Shanghai is a leading financial backend support center in Asia. Through this center, Ping An has established a systematic backend operation. By having in place a service infrastructure that includes telephony, the Internet and customer service staff, a full range of financial services can be delivered to customers in a professional, standardized and comprehensive manner. Value-added services are also delivered to customers through Customer Service Day and other innovative services such as Wanlitong and One Account.
Ping An, embracing the idea of “focus on tomorrow” as its philanthropy philosophy, takes seriously its responsibility to serve as a leader in the area. Ping An abides by the law in its operations and declares its tax in an honest and transparent manner in order to creates corporate business value. Through offering charitable assistance in areas such as environment, education, Red Cross and community, Ping An continuously fulfills its moral and social obligations to society. In the area of environment, Ping An continued to promote the “Low-Carbon 100 Campaign”. In 2011, Ping An reduced the usage of 511.7 tonnes of paper and over 1,800 times of mailing costs by introducing the use of Mobile Integrated Terminal (MIT), electronic statements for life insurance and credit cards. In the area of education, Ping An continued to promote “rural-education campaign”. Ping An had participated in the building and planning of more than 100 Hope Primary Schools in China and had awarded scholarships amounting to RMB2.90 million to a total of 5,362 students. Regarding higher education, Ping An continued to promote education programs that give away study grants of RMB14.09 million to 3,905 students in the area of thesis awards, scholarship programs and “Start a Business” competition. With regard to Red Cross, Ping An has mobilized blood donation among its staff for ten consecutive years with the amount of blood donated reaching 36.75 million cc. In addition, Ping An has provided insurance for free to more than 2,500 people who have donated hemopoietic stem cells (HSC). The premiums of the donated policies are worth over RMB900 million. In terms of Community Commitments, Ping An established the “Ping An Volunteer Association”, which consists of 500,000 administrative staff members and agents who are involved in various volunteer work.
Ping An has received numerous awards and applauds in recognition of its charitable work, including “The Most Respected Companies of China Awards” for ten consecutive years, “Best Chinese Corporate Citizen” for seven consecutive years, “Most Responsible Enterprise” for six consecutive years, and “Chinese Excellent Enterprise - China Business News’s List of Corporate Social Responsibility” for three years in a row.