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 investors by enhancing asset value and delivering stable returns, to customers by providing the best service with integrity, to employees by offering career development opportunities and a fulfilling working environment, 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”. Our actions are guided by our belief in creating value. In the pursuit of excellence we strive to become individuals with strong values who are useful to society. It promotes personal integrity and values among employees by highlighting virtues such as "honesty, trustworthiness, entrepreneurship, and achievement," as well as team qualities such as "unity, vitality, learning and innovation". Ping An has implemented the mechanisms of "competition, motivation, elimination", together with a distinctive, professional, advanced and long-term business philosophy.
Ping An's vision is to become a global 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.Its subsidiaries include 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”); 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”); Ping An-UOB Fund Management Company Limited (“Ping An-UOB Fund”); and Shanghai Lujiazui International Financial Asset Exchange Co., Ltd (“Lufax”)., the Group provides comprehensive products and services in insurance, banking and investment under an unified brand through multiple channels and networks to approximately 80 million customers.
As at 30 June 2013, Ping An has 549,000 life insurance sales agents and about 200,000 full-time employees. The Group’s consolidated total assets and equity attributable to shareholders of the parent company amounted to RMB3,17 trillion and RMB172,756 billion, respectively. Both Ping An Life and Ping An Property & Casualty are ranked as the second largest insurance company in China by premium income.
Ping An was ranked No.83 in Forbes’ Global 2000 league table in 2012, No.181 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.84 in 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. It has the most integrated financial platform in 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 is committed to taking on social responsibilities by following the philosophy of “Focus on Tomorrow”. Ping An has been creating business value while operating in compliance with laws and regulations and paying taxes; for the society, Ping An assumes moral responsibilities and charity responsibilities, and embeds its core values in environment, education, the Red Cross, communities and other good causes. So far, Ping An has donated more than RMB300 million in environment, education, the Red Cross and communities. As of Dec. 31, 2012, Ping An had saved 890.60 tons of paper by switching to high-efficiency operations in business rollout, e-insurance policies, files, e-bills, etc.; on the education front, Ping An had sponsored construction of 112 Ping An Hope Primary Schools in remote areas across the country. From 2007 to Dec. 31, 2012, over 2,000 volunteers from various circles of society participated in our education initiative, giving an aid to almost 30,000 students. More than RMB10 million has been awarded to 4,820 students through the Endeavour Scheme. In terms of Red Cross public welfare, the 1-year insurance scheme covering critical illness, accidental injury and in-patient benefits with a limit of RMB 1.1 billion has been provided to almost 3,000 hematopoietic stem cell donors for free. In terms of disaster relief, since the 2008 Wenchuan Earthquake till the end of July 2013, donated money had totaled almost RMB100 million, value of donated materials had reached RMB3.5 million and donated insurance limit had exceeded RMB33.5 billion. In terms of community initiative, as of Dec. 31, 2012, service time of volunteers had accumulatively exceeded 140,000 hours, of which 35,000 hours were devoted in 2012, representing an increase of 13% versus 2011.
Ping An has received numerous awards and accolades in recognition of its charitable work, including "The Most Respected Companies of China Awards" for 12 consecutive years, "Best Chinese Corporate Citizen" for 8 consecutive years, "Most Responsible Enterprise" for 7 consecutive years, and “CBN • Corporate Social Responsibility Excellence Award of China” for 3 years.