Ping An continuously implemented its health and senior care strategy to build significant differential advantages. Nearly 63% of Ping An's 240 million retail customers used services from the health and senior care ecosystem as of September 30, 2024. They held approximately 3.35 contracts and RMB57,800 in AUM per capita, 1.6 times and 3.9 times those held by non-users of these services respectively. The health and senior care ecosystem is becoming an increasingly important enabler to Ping An Life's core businesses. Over 19.50 million customers of Ping An Life used services from the health and senior care ecosystem in the first nine months of 2024. Approximately 76% of Ping An Life's newly enrolled customers used health management services in the first nine months of 2024. Customers entitled to health and senior care services contributed over 69.6% of Ping An Life's NBV, including approximately 39.0% from those entitled to senior care services and approximately 30.6% from those entitled to health care services.
Ping An made significant progress in developing health management and medical service networks. The Group maintained exclusive health records for customers, and provided membership-based health and senior care services via family doctors and senior care concierges. Ping An guided members through an end-to-end "online, in-store, and in-home" service network covering consultation, diagnosis, treatment and services under AI-enabled 24/7 seconds-level management. Its health and senior care ecosystem had nearly 64,000 paying corporate customers, serving their over 26 million employees as of September 30, 2024. PKU Healthcare Group's revenue continued to grow and reached approximately RMB3.93billion in the first nine months of 2024. Meanwhile, Ping An integrated domestic and overseas premium resources including medical services, health services, commodities and medicines to build extensive partner networks in China and abroad. Ping An had about 50,000 in-house doctors and contracted external doctors in China as of September 30, 2024. Ping An has partnered with over 36,000 hospitals (including all top 100 hospitals and 3A hospitals), over 104,000 health care management institutions and over 233,000 pharmacies in China. Overseas, Ping An has partnered with over 1,300 health care institutions in 35 countries.
Ping An actively fulfilled its social responsibilities and served green development and rural vitalization. Ping An's green insurance premium income amounted to RMB37,341 million and funds provided for rural industrial vitalization via "Ping An Rural Communities Support" totaled RMB31,406 million in the first nine months of 2024. The Group remained No.1 in the financial industry on China Central Television (CCTV)'s "China's Top 100 Listed Companies by ESG" list in 2024.
Looking ahead, the fundamentals of China's economic development remain unchanged, with great market potential and strong economic resilience continuing to provide favorable conditions. As the state effectively implements various decisions and a series of incremental policies, China's growth momentum will gradually strengthen. The economic trend of continued stability with steady progress will be further bolstered. The health care, senior care and financial markets are poised to embrace new growth opportunities. To achieve high-quality business development, Ping An will uphold a people-centric philosophy, maintain its strategic focus on core financial businesses, advance its technology-driven "integrated finance + health and senior care" strategy, improve operations and management to drive business recovery and growth, and continually enhance the quality and effectiveness of financial services for the real economy. Ping An is committed to creating long-term, stable and sustainable value for customers, employees, shareholders and society, as well as contributing to China's development into a financial powerhouse.
* Based on the International Financial Reporting Standards issued by the International Accounting Standards Board
View original content:https://www.prnewswire.com/news-releases/ping-an-reports-steady-growth-in-operating-profit-robust-increases-in-net-profit-and-life--health-nbv-in-9m-2024-302281722.html
SOURCE Ping An Insurance (Group) Company of China, Ltd.
/CONTACT: For media enquiries, please contact: KW Lam @ +852 6303 3481 or kw.lam@pingan.com.hk; Cecile Zhang @ +852 6681 3178 or cecile.zhang@pingan.com.hk
(END) Dow Jones Newswires
October 21, 2024 08:11 ET (12:11 GMT)
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