- Operating profit attributable to shareholders grew 2.4% year-over-year to RMB37,907 million in Q1 2025.
- New Business Value (NBV) of the Life & Health segment surged 34.9% year-over-year to RMB12,891 million.
- The Group's total assets increased to RMB13.18 trillion as of March 31, 2025.
Ping An Insurance Group (PNGAY, Financial) has reported solid financial results for the first quarter of 2025. The Group's operating profit attributable to shareholders rose by 2.4% year-over-year, reaching RMB37,907 million. This growth highlights the company's steady performance amidst a challenging external environment characterized by subdued domestic demand and volatile capital markets.
The Life & Health insurance segment demonstrated substantial growth, with its operating profit growing 5.0% yearly to RMB26,864 million. Notably, the New Business Value (NBV) for this segment increased by a striking 34.9% year-over-year to RMB12,891 million, with the margin improving by 10.4 percentage points to 32.0%. The bancassurance channel was a significant contributor, with its NBV surging 170.8% year-over-year.
Ping An's total assets exceeded RMB13 trillion, reaching RMB13.18 trillion as of March 31, 2025. The company also reported growth in retail customers, increasing by 1.0% to nearly 245 million. The retention rate for multi-contract holders within the Group was notably high at 98.0%, underscoring the company's strong customer loyalty and effective multi-channel strategy.
Investment results were favorable as the insurance funds achieved an unannualized comprehensive investment yield of 1.3% in the first quarter of 2025, a 0.2 percentage point increase from the previous year. Despite the macroeconomic challenges, Ping An continues to strengthen its core financial businesses and explore opportunities for sustainable growth through its integrated finance and health and senior care strategies.
