Ping An Again Selected for S&P Global's Sustainability Yearbook (China Edition), the Sole Mainland Insurance Company

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Ping An Insurance (Group) Company of China, (HKEX: 2318; SSE: 601318) has been selected for S&P Global's "Sustainability Yearbook 2024 (China Edition)" for the second consecutive year. It is the only mainland Chinese insurance company to make the list, recognized for its outstanding ESG practices and sustainable development efforts.

In 2023, Ping An's green finance initiatives resulted in RMB37.3 billion in green insurance premium income, RMB146.3 billion in green loan balance, and RMB128.6 billion in green investment of insurance funds. The company also provided significant support for small and micro-enterprises and expanded its pension finance services.

Ping An maintains an "A" rating in MSCI ESG Ratings, ranking first in the multi-line insurance and brokerage industry in the Asia-Pacific region. It also holds a "low risk" rating from Sustainalytics, the highest among Mainland Chinese financial companies.

HONG KONG and SHANGHAI, July 22, 2024 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318) stood out from more than 1,700 companies to be featured in S&P Global's "Sustainability Yearbook 2024 (China Edition)". This is the second consecutive year Ping An was selected for the sustainability yearbook, the only insurance company in mainland China to make the list, thanks to its long-term exploration in sustainable development and outstanding performance in ESG practices.

S&P Global has published its global "Sustainability Yearbook" since 2008, and the China edition since 2023 to provide companies in mainland China, Hong Kong, and Macau with a regional benchmark. The yearbook is recognized for its professionalism and authority, and has become a key reference for global ESG investors and other stakeholders to assess corporate sustainability performance. For 2024, S&P Global's Corporate Sustainability Assessment team rigorously evaluated more than 1,700 Chinese companies across 60 industries, and ultimately selected 129 companies for inclusion in the yearbook.

As an ESG pioneer in China, Ping An actively embraces the principles of green, low carbon and sustainable development. Committed to exerting industry influence in this field, Ping An collaborates with domestic and foreign sustainability organizations to implement its sustainable development strategies across various financial services, including technology finance, green finance, inclusive finance, pension finance and digital finance. In 2023, Ping An's efforts in green finance resulted in green insurance premium income of RMB37.3 billion, a green loan balance of RMB146.3 billion, and green investment of insurance funds of RMB128.6 billion. In inclusive finance, Ping An P&C provided risk protection exceeding RMB200 trillion for nearly 2.29 million small and micro-enterprises. Ping An Bank provided inclusive loans to over 1.03 million small and micro-enterprises, with a loan balance of about RMB572.1 billion. In pension finance, Ping An introduced "insurance + home-based senior care" and "insurance + high-end senior care" service models, offering more than 580 home-based elderly care service items. To empower its business, Ping An employs more than 20,000 technology developers and 3,000 scientists, continuously enhancing its technological capabilities to promote sales, improve efficiency, and manage risks.

In recent years, Ping An has consistently maintained a leading position in international major ESG ratings. Notably, Ping An maintains an "A" in the MSCI ESG Ratings in 2023, remaining No.1 in the multi-line insurance and brokerage industry in the Asia-Pacific region. Ping An also has a "low risk" rating from Sustainalytics, the highest rating among Mainland Chinese financial companies.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services, Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its 234 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2023, Ping An had RMB11,583,417 million in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 33rd in the Fortune Global 500 list in 2023.

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

FAQ

What recognition did Ping An Insurance receive in S&P Global's Sustainability Yearbook 2024 (China Edition)?

Ping An Insurance (PNGAY) was selected for S&P Global's Sustainability Yearbook 2024 (China Edition) for the second consecutive year, being the only mainland Chinese insurance company to make the list.

How much green insurance premium income did Ping An generate in 2023?

In 2023, Ping An Insurance (PNGAY) generated RMB37.3 billion in green insurance premium income as part of its green finance initiatives.

What is Ping An's MSCI ESG Rating and ranking in the Asia-Pacific region?

Ping An Insurance (PNGAY) maintains an "A" rating in MSCI ESG Ratings and ranks first in the multi-line insurance and brokerage industry in the Asia-Pacific region.

How many retail customers does Ping An serve as of 2024?

As of 2024, Ping An Insurance (PNGAY) serves 234 million retail customers, providing them with financial advisory, family doctor, and senior care concierge services.

What was Ping An's total asset value at the end of 2023?

At the end of 2023, Ping An Insurance (PNGAY) reported total assets of RMB11,583,417 million.