Ping An Voted Most Outstanding Company in China - Insurance Sector by Asiamoney for Fourth Year in a Row
HONG KONG and SHANGHAI, Sept. 24, 2021 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 2318; SSE: 601318) announced that Ping An has been voted the Most Outstanding Company in China – Insurance Sector in the Asia's Outstanding Companies Poll 2021 by Asiamoney. This is the fourth consecutive year Ping An has won this title.
The Asiamoney poll, covering 13 Asia Pacific capital markets, recognizes Asia's most outstanding listed companies in each market and sector in areas such as financial performance, management team excellence, investor relations and corporate social responsibility. This year, more than 1,070 fund managers, buy-side analysts, bankers and research analysts cast nearly 6,000 votes to select the 191 most outstanding listed companies.
In 2021, Ping An continues to execute its "finance + technology" and "finance + ecosystem" strategies. It is pursuing high quality development, driven by the reform of Ping An Life and digital empowerment. The Group continues to explore innovative business models to strengthen its ecosystems in financial services, healthcare, auto services and smart city services.
In the first half of 2021, Ping An achieved a 21.0% annualized operating ROE, with operating profit attributable to shareholders of the parent company rising 10.1% year-on-year to RMB81,836 million. Operating profit of the technology business for the first half of 2021 increased 14.2% year-on-year to RMB48,809 million. The Group will pay an interim dividend of RMB0.88 per share in cash, up 10.0% year on year.
Ping An also continues to improve corporate governance and integrate the core philosophies and standards of Environmental, Social and Corporate Governance (ESG) into its corporate management. This year, Ping An adopted the best practices of global corporate governance, optimized the structure of the board of directors, and enhanced the independence and diversity of the board of directors. Among its 15 board members, approximately 53% have overseas working experience. All board members maintain a high level of professionalism and have extensive practical experience in key fields including corporate management, legal, investment, insurance, banking, finance and technology.
Ping An actively supports decarbonizing the global economy. The Group announced a comprehensive upgrade of green finance activities in five areas: green company, green assets, green insurance, green public welfare and green technology. As of June 30, 2021, Ping An's total responsible investment amounted to nearly RMB1.21 trillion and the balance of green loans reached RMB57.1 billion. Ping An has pledged to increase its green investment and green credit to RMB400 billion and its green insurance to RMB250 billion by 2025. Ping An also aims to achieve carbon neutrality across the company's operations by 2030.
In terms of social responsibility, Ping An continues to promote its Ping An Rural Communities Support Program. As of June 30, 2021, the Group provided RMB36.024 billion for poverty alleviation and industrial revitalization.
Ping An said, "We thank the capital market for its recognition of our corporate governance, overall strategy, operating performance, shareholder returns and corporate social responsibility. We have enhanced our corporate governance structure and integrated financial business under the brand philosophy of 'Expertise makes life simple.' We are committed to providing customers with 'worry-free, time-saving and money-saving' integrated financial services. Ping An will continue to explore and adopt the best practices of leading global companies, and create sustainable value for our shareholders, employees, society and the environment."
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