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Profile: Ping An Insurance Group Co of China Ltd (PNGAY.PK)

PNGAY.PK on OTC Markets Group

16 Jul 2019
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Ping An Insurance (Group) Company of China, Ltd., incorporated on March 21, 1988, is a personal financial services provider. The Company provides insurance, banking, investment, and Internet finance products and services to over 200 million Internet users and approximately 100 million customers. The Company operates through six segments: life insurance, property and casualty insurance, banking, trust, securities and corporate. The life insurance segment offers a range of life insurance products to individual and corporate customers, including term, whole-life, endowment, annuity, investment-linked, universal life and healthcare insurance. The property and casualty insurance segment offers a range of insurance products to individual and corporate customers, including automobile insurance, non-automobile insurance, and accident and health insurance. The banking segment undertakes loan and intermediary businesses with corporate customers and retail business, as well as wealth management and credit card services with individual customers. The trust segment provides trust services and undertakes investing activities. The securities segment undertakes brokerage, trading, investment banking and asset management services. The corporate segment includes the management and support of the Company's business through its strategy, risk, treasury, finance, legal and human resources functions, among others.

Insurance Business

The Company conducts its life insurance business through Ping An Life Insurance Company of China, Ltd. (Ping An Life), Ping An Annuity Insurance Company of China, Ltd. (Ping An Annuity) and Ping An Health Insurance Company of China, Ltd. (Ping An Health). Ping An Life, through its nationwide service network of over 40 branches, including approximately six telemarketing centers, and over 3,000 business outlets, provides individual customers and institutional clients with life insurance products. Ping An Annuity is a professional annuity company in China, which provides pension insurance, health insurance, accident insurance, annuity, asset management products for pension and entrusted pension management. Ping An Health is engaged in medium and high-end medical insurance, and health management services. The Company conducts property and casualty insurance business mainly through Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An Property & Casualty). China Ping An Insurance (Hong Kong) Company Limited (Ping An Hong Kong) also offers property and casualty insurance service in the Hong Kong market. Ping An Property & Casualty offers income products, such as automobile insurance, guarantee insurance, corporate property and casualty insurance, liability insurance and accident insurance.

Banking Business

The Company engages in banking business through Ping An Bank Co., Ltd. (Ping An Bank), which is a national joint-stock commercial bank in Shenzhen. Ping An Bank provides corporate, retail and government clients with various financial services through approximately 1,000 outlets across China. Its deposits include corporate deposits and retail deposits.

Asset Management Business

The Company offers investment and financial services through China Ping An Trust Co., Ltd. (Ping An Trust) to high net-worth individual clients, institutional clients, interbank clients and other subsidiaries of the Company. Ping An Trust operates in four business segments: private wealth management business (retail), private equity investment banking and institutional asset management business (corporate), interbank business (interbank) and private equity investment business (PE). The Company provides securities brokerage, futures brokerage, investment banking, asset management, and financial advisory services through Ping An Securities Company, Ltd. (Ping An Securities) and its subsidiaries. Ping An Securities' subsidiaries include Ping An Futures Co., Ltd. (Ping An Futures), Ping An Bright Fortune, Ping An of China Securities (Hong Kong) Company Limited (Ping An Securities (Hong Kong)) and Ping An Pioneer Capital Co., Ltd. (Ping An Pioneer Capital).

The Company provides investment management services primarily through two subsidiaries, which include Ping An Asset Management Co., Ltd. (Ping An Asset Management) and Ping An of China Asset Management (Hong Kong) Company Limited (Ping An Asset Management (Hong Kong)). Ping An Asset Management is responsible for domestic investment management business, and also provides investment products and third-party asset management services to other investors through various channels. Ping An Asset Management (Hong Kong) operates the overseas investment management business of the Company. Apart from managing overseas investment for insurance funds under the Company, it also provides third-party investment management and investment advisory services, as well as a range of overseas investment products to institutions and individual clients in China and abroad.

Ping An-UOB Fund Management Company Limited (Ping An-UOB Fund) is engaged in raising and sales of securities investment funds, assets management business, and offering of investment products and related services to retail and institutional investors. The Company conducts financial leasing business through Ping An Financial Leasing Limited (Ping An Financial Leasing). Ping An Financial Leasing is engaged in healthcare, manufacturing and processing, infrastructure, government financing, education and culture, as well as institutional financing.

Internet Finance

The Company's Internet finance operations are represented by Shanghai Lujiazui International Financial Assets Commodity Exchange Co., Ltd. (Lufax), Ping An Pay Intelligence Technology Co., Ltd. (Ping An Pay) and Shenzhen Wanlitong Internet & Information Technology Co., Ltd. (Wanlitong), Ping An Haofang (Shanghai) E-commerce Co., Ltd. (PA Haofang), Ping An Health Cloud Co., Ltd. (Ping An Health Cloud) and Shenzhen Ping An Financial Technology Consulting Co., Ltd. (Ping An Financial Technology). The Company focuses on the health, food, housing, transportation and entertainment sectors. Lufax is engaged in meeting investment and financing demands with Internet technologies, as well as building Internet financial transaction information service platform in China. Lufax has integrated online and offline channels to serve all financial institutions, corporate clients and retail customers.

Ping An Puhui Financial business is a personal consumption finance and micro-enterprise finance service provider. PA Haofang is engaged in building an offline to online (O2O) real estate finance platform. Ping An Health Cloud is engaged in building a whole-process O2O platform for healthcare services, and providing customers with services, including online consultation, online medicine purchase and offline medical services through its Ping An Doctor application and offline service network. Ping An Financial Technology is engaged in building One Account Management Services into an open Internet financial service platform in China. One Account Management Services offers account management, wealth management, credit management and lifestyle management.

Company Address

Ping An Insurance Group Co of China Ltd

15F-18F, Xinghe Development Cent
SHENZHEN   GNG   518033
P: +86400.8866338
F: +86755.82431029

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