Ping An Insurance's 2024 Profit Jumps 48%, Revenue Beats Estimate

MT Newswires Live03-20

Ping An Insurance (Group) (HKG:2318, SHA:601318) reported a 47.8% increase in profit attributable to owners for 2024 to 126.61 billion yuan from 85.67 billion yuan a year earlier, according to a Wednesday filing with the Hong Kong bourse.

Earnings per share increased to 6.99 yuan from 4.74 yuan in the prior year. Eleven Visible Alpha analysts estimated EPS to be 7.95 yuan.

Revenue rose 10.6% to 1.141 trillion yuan from 1.032 trillion yuan in the previous year. Visible Alpha expected revenue at 1.097 trillion yuan.

The company proposed a cash dividend of 1.62 yuan per share.

The insurer's shares fell 4% in Hong Kong and nearly 3% in Shanghai in recent trading.

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