Ping An Insurance (Group) Company of China reported consistent earnings in the first six months of 2025 (H1 2025).
The group’s operating profit attributable to shareholders of the parent company reached RMB77.73 billion, up 3.7% year-on-year (YoY), while net profit amounted to RMB68.05 billion.
Total revenue for the period was RMB546.47 billion, and shareholders’ equity increased 1.7% from the start of the year to RMB943.95 billion.
The company declared an interim cash dividend of RMB0.95 per share, a 2.2% increase YoY.
Ping An Life recorded a 39.8% YoY rise in new business value (NBV) for life and health insurance, reflecting growth in multiple distribution channels.
The agent channel achieved a 17% YoY increase in NBV, driven by a 21.6% rise per agent, while bancassurance NBV climbed 168.6% YoY.
Around 70% of Ping An Life’s NBV came from customers enrolled in the health and senior care ecosystem.
Policy persistency remained strong, with 13-month and 25-month rates at 96.9% and 95%, respectively.
During the period, over 13 million customers accessed health management services, while home-based senior care services reached nearly 210,000 clients across 85 cities.
The company also launched six premium health and senior care communities in five cities.
The insurer’s integrated finance model contributed to expanding its client base, which rose 4.6% YoY to nearly 247 million by June 30, 2025.
Customers held an average of 2.94 contracts, with operating profit per customer at RMB247.32.
Longer-tenured clients and those holding multiple products displayed higher retention rates.
Ping An maintained a network of more than 7,000 offline outlets across 330 cities, supported by over 1.3 million sales and service personnel.
Digital platforms including Ping An Jin Guan Jia, Ping An Pocket Bank, Ping An Auto Owner, and Ping An Good Doctor facilitated service access and product uptake.
Ping An P&C saw premium income rise 7.1% YoY to RMB171.86 billion, with insurance revenue up 2.3% to RMB165.66 billion. The combined operating ratio improved 2.6 percentage points to 95.2%.
AI technologies supported claims management, with the Ping An Auto Owner app reaching nearly 251 million registered users, while the EagleX Risk Mitigation Service Platform issued alerts for 259,000 disasters to 64.02 million customers.
Insurance fund investments reached over RMB6.2 trillion, producing a 3.1% unannualized comprehensive investment yield, up 0.3 percentage points YoY.
Ten-year average net and comprehensive yields were 5.0% and 5.1%, respectively.
Ping An Bank reported net profit of RMB24.87 billion, with non-performing loans at 1.05% and a provision coverage ratio of 238.48%.
Retail deposits grew 3.1% to RMB1.33 trillion, while corporate lending expanded 4.7%, serving 909,100 clients.
Supply chain financing increased 25.6% YoY to RMB911.28 billion.
The insurer expanded health and senior care services through AI-powered platforms and family doctor programs, serving nearly 63% of retail clients with ecosystem benefits.
Health insurance premiums totalled RMB87 billion, including RMB41 billion from medical insurance.
Ping An also reported nearly RMB10.8 trillion invested in the real economy, RMB35.84 billion in green insurance premiums, and RMB32.81 billion for rural development initiatives.
Its MSCI ESG rating reached AA, the highest among multi-line insurers in Asia-Pacific.
The company said it will continue focusing on core businesses, enhancing efficiency, and leveraging technology to integrate finance with health and senior care services, while maintaining a customer-centric approach across its product and service offerings.
