Ping An Speeds up Integrated Financial Development

摘要

Ping An's ambition of becoming China's leading full-service financial services business is gathering pace. The group continues to build on its outstanding presence in insurance with growth and transformative acquisitions elsewhere.rnOne of China's leading insurers, Ping An holds a 16.8 percent market share in life insurance and 11.8 percent in property & casualty (P&C). These businesses continue to grow rapidly. In the first half of 2009, total gross written premiums, policy fees and premium deposits grew 33.9 percent to RMB92.685 billion, growth that far exceeded the industry average. Premium income grew by 35.5 percent, with one-year new business value increasing by 19.8 percent over the end of 2008 in the life business.rnYet, Ping An has long sought to be more than just an insurer. In the future, it expects banking and investment to be every bit as important to the Ping An bottom line as the core business it was built on. Its strategy is to maintain sustainable, healthy and balanced growth in these three businesses. With its full range of financial servic-rnes licenses, young customer base and supported by a powerful back office platform, Ping An intends to leverage the competitive advantage that comes from this integration.