HONGKONG and SHANGHAI, Nov. 7, 2017 — AsianInvestor has recently announced winners of the “2017 Institutional Excellence Awards”. With its professional investment capability, outstanding asset allocation and excellent performance in the volatile market, Ping An Life is the only Chinese financial institution attaining this accolade in 2017. It is also the third time for Ping An Life to win the award.
Through stringent assessment and professional judgement, AsianInvestor highly recognized Ping An Life's remarkable performance in the Asia Pacific region, as well as its capabilities of professional asset allocation and adaptation to the market's longer-than-expected return period, under the background of declining interest rate and increasing credit risk in China, and eventually delivers a better return for its shareholders.
During the past year, Ping An Life adhered to its protection-oriented product philosophy, focused on customers and platforms operation to establish its core competitiveness of “Product+” and “Technology+”, facilitating a sustainable, healthy and stable growth of embedded value and scale. For the first three quarters of 2017, Ping An Life recorded a written premium of RMB365.57 billion, representing a year on year increase of 29.56%; agent channel improved both qualitatively and quantitatively, which helped new business value (NBV) increased by 38.44% year on year to RMB114.67 billion; number of sales agent increased by 27.9% year on year to 1,434 thousands and agents' per capita income per month grew by 9.9% year on year; the written premium of new regular premium business via bancassurance channel grew to RMB4.538 billion, representing a year on year increase of 77.32%; The telemarketing channel continued to rank first in terms of market share in the industry, recording a written premium of RMB15.083 billion in the first three quarters of 2017, increased by 22.28% year on year; while the internet marketing channel continued to develop its O2O operational model, achieving a robust growth of 140.41% year on year to RMB8.625 billion.
In regard to insurance funds allocation, strictly observing the bottom line of risk management, Ping An Life adheres to the value of investment, optimizes allocation on high-quality fixed income varieties such as national debt in accordance to interest rate trends, grasps opportunities from market fluctuations to carry out equity investment and diversify investment portfolio risk through asset allocation. As at September 30 2017, Ping An's portfolio of insurance funds reached RMB2.30 trillion, up 16.9% from the beginning of the year. In the first three quarters of 2017, the portfolio of insurance funds achieved an annualized net investment yield of 5.5% and an annualized total investment yield of 5.4%.
Mr. Ding Dang, Chairman and CEO of Ping An Life, said “We are pleased to, once again, be named the country winner for China in AsianInvestor's annual institutional excellence awards, which serves as a key recognition of Ping An Life's work in the past year. Drawing on the strengths of the Group's integrated finance business model, we have delivered long-term stable returns by adopting an investment philosophy rooted in compliance, sound practices and pragmatism, running operations based on scientific practices, and having strict and prudent risk management. These measures have contributed to a highly efficient and cutting-edge investment mechanism which covers customers in every stage of the investment process. In response to the challenges arising from the economy, Ping An Life will continue to adjust its investment strategy in step with the market, reinforce the stability and resilience of its investment returns across economic cycles, and further explore new investment strategies. In the meantime, Ping An Life had been fully committed to serving the real economy in terms of insurance funds and provide support to national and regional infrastructure and economic development through investment strategies such as infrastructure debt plan, infrastructure equity investment plan and railway construction fund preferred shares.”
AsianInvestor is an authoritative asset management magazine in Asia Pacific region. The “Institutional Excellence Award” is well-recognized by industry experts and professionals. The award focuses on pension fund, sovereign wealth funds, life insurance companies and other Asian Investment institutions. It aims to examine the results of Institutional investment and to guide the direction of future development. This year, marks the fourth AsianInvestor “Institutional Excellence Award”. Other companies on the list in the same period include: Sunsuper Fund (Australia), Hong Kong Jockey Club (HKSAR, China), Bureau of Labor Funds, Ministry of Labor (Taiwan, China) and the Korean Civil Service Welfare Association (South Korea).
Besides, Institutional Investor, the world's leading financial magazine, recently has announced the “Asia's 100 Biggest Money Managers 2017″ (The 2017 Asia 100). Ping An Asset Management Co. Ltd. (PAAMC) has been listed for 9 consecutive times. This year, it was the first time for PAAMC to list in the top 5 in Asia with an asset under management (AUM) of US$372 billion.
In the list, the performance of asset management companies in China is outstanding, taking up four seats among the top ten, among which Ping An Asset Management is the only non-state-owned asset management company. As of the end of March 2017, the AUM of Ping An Asset Management reached US$372 billion (equivalent to RMB2.4 trillion), significantly boosting its ranking by 9 places compared with 2016, officially becoming one of the top 5 assets management companies in the Asia Pacific region and one of the top 3 asset management institutions in China.
About Ping An
As China's first joint stock insurance company, Ping An Insurance (Group) Company of China, Ltd. (“Ping An“) is dedicated to becoming a world-leading personal financial services provider. Today, it is an integrated, compact, multi-functional financial services group with services that include insurance, banking, and investment. As at 30 June 2017, the Group had over 143 million individual customers. As at the end of June 2017, the Group's consolidated total assets reached RMB5.99 trillion while equity attributable to shareholders of the parent company stood at RMB425,780 million. Ping An Life and Ping An Property & Casualty are both ranked the second largest in China, Ping An Annuity ranked top in China in their respective areas by premium income. Its subsidiary Ping An Bank is China's first joint stock bank. The Company's key areas of business include investment, with subsidiaries such as Ping An Trust, Ping An Securities and Ping An Asset Management. Further, Ping An strives to develop internet finance, including Lufax, Ping An Good Doctor, Ping An Haofang, E-Wallet, Financial OneConnect. It has achieved significant growth in both the scale and user base of internet finance. As at 30 June 2017, the number of internet users of the Company reached 403 million.
Ping An ranked 16th in Forbes' 2017 Global 2000, it ranked 39th in Fortune Magazine's 2017 Global 500 Leading Companies. Apart from these accolades, Ping An ranked 61st in WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands ranking.
For enquiries, please contact:
Hill+Knowlton Strategies Asia:
Tel: (852) 2894 6373 / (852) 9732 8223
Tel: (852) 2894 6233 / (852) 9783 0643
Email: [email protected]
SOURCE Ping An Insurance (Group) Company of China, Ltd.
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