2023 First Quarter Results Presentation
2023 First Quarter Results
Cautionary Statements Regarding Forward-Looking Statements
To the extent any statements made in this Report contain information that is not historical, these statements are essentially forward-
looking. These forward-looking statements include but are not limited to projections, targets, estimates and business plans that the
Company expects or anticipates may or may not occur in the future. Words such as "potential", "estimates", "expects", "anticipates", "objective", "intends", "plans", "believes", "will", "may", "should", variations of these words and similar expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to known and unknown risks and uncertainties that may be general or specific. Readers should be cautioned that a variety of factors, many of which are beyond the Company's control, affect the performance, operations and results of the Company, and could cause actual results to differ materially from the expectations expressed in any of the Company's forward-looking statements. These factors include, but are not limited to, exchange rate fluctuations, market shares, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions and other risks and factors beyond our control. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. In addition, the Company undertakes no obligation to publicly update or revise any forward-looking statement that is contained in this Report as a result of new information, future events or otherwise. Neither the Company nor any of its employees or affiliates is responsible for, or is making, any representations concerning the future performance of the Company.
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Overview Group Financial Individual
Strategies Review Businesses
Business highlights for 1Q 2023
Group
Integrated finance
Life & Health
P&C insurance
Property & Casualty
Banking
- Operating profit of
RMB41.4 billion equating to a 19% Operating ROE (annualized). Net profit rose 49% YoY toRMB38.4 billion - Have nearly229 million retail customers which on average hold c.3 contracts each
- NBV rose21% on a like for like basis and rose 9% on a reported basis. All major channels delivered positive NBV growth on a reported basis in 1Q
- P&C delivered a7% rise in insurance revenue and an underwriting profit (98.7% combined ratio)
- Net profit rose14% YoY supported by a stable non-performing loan ratio. Provision coverage ratio remained strong at 290%
Notes: (1) Ping An has implemented IFRS 17 since
(2) Operating profit and net profit of the Group refer to the operating profit and net profit attributable to shareholders of the parent company.
3
Core performance for 1Q 2023
Overview Group Financial Individual
Strategies Review Businesses
(in RMB)
Operating profit(1)
41.4 billion
-3.4%
Net profit(1)
38.4 billion
+48.9%
|
Operating ROE |
|
(annualized) |
|
18.8% |
|
NBV(2) |
|
13.7 billion |
|
+21.1% |
Number of retail
|
customers |
|
229 million |
|
+0.9% |
|
Contracts per |
|
retail customer |
|
2.98 |
|
+0.3% |
Notes: (1) Operating profit and net profit refer to the operating profit and net profit attributable to shareholders of the parent company respectively.
(2) Life & Health NBV grew 8.8% YoY to
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Overview Group Financial Individual
Strategies Review Businesses
Ping An's strategies: advancing the "integrated finance + healthcare" strategic upgrade
One vision
World-leading
Integrated Finance and Healthcare Services Provider
Two-pronged
|
Integrated Finance |
Healthcare |
|
One customer, multiple products, |
Family doctors and |
|
and one-stop services |
elderlycare concierges |
Technology-driven
Technological Empowerment
Empowering financial services with technologies, empowering financial services
with ecosystems, and advancing development with technologies
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Attachments
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