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Ping An Insurance Group is a privately held Chinese company headquartered in Shenzhen, Guangdong, People's Republic of China. It is a holding company with subsidiaries indulging in financial and insurance services. Ping An Insurance Group is ranked #293 in 2008 Forbes Global 2000 list.
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Ping An Insurance Group conducts operations all over mainland China. It conducts operations in Macau and Hong Kong through Ping An Insurance Overseas. This company has commercial representation in 150 nations. Ping An Insurance Group is listed in Hong Kong (SEHK: 2318) and Shanghai (SSE: 601318) stock exchanges.
Brief history
Ping An Insurance Group started as a casualty insurance company in 1988. This company diversified into financial services in middle of 1990s. Overseas investments into Ping An started from this time. Goldman Sachs and Morgan Stanley invested into Ping An in 1994. Ping An Insurance Group took a 50 percent share in Fortis investments in 2008.
Products and services
Ping An Insurance Group is an integrated financial services giant that amalgamates its core insurance business with trust and investment, and securities brokerage .Asset management, corporate pension and commercial banking operations are also done by Ping An group.
Ping An Insurance Group is holding company of following subsidiary companies:Ping An Property & Casualty Insurance Company of China, Ltd, Ping An Asset Management Co., Ltd, China Ping An Insurance Overseas (Holdings) Limited, Shenzhen Ping An Bank, Ping An Life Insurance Company of China, Ltd. ("Ping An Life"); Ping An Annuity Insurance Company of China, Ltd.; Ping An Health Insurance Company of China, Ltd.; ; China Ping An Trust & Investment Co., Ltd.
Ping An Overseas holds China Ping An Insurance (Hong Kong) Co., Ltd., and Ping An of China Asset Management (Hong Kong) Co., Ltd. China Ping An Trust & Investment Co., Ltd. holds Ping An Securities Company.
Financials
Ping An Insurance Group made a net profit of RMB1,804 million in 2008 (IFRS basis). Total income was around RMB 63,633 million. Insurance premiums amounted to RMB 300 million.
Awards and recognition
Ping An Insurance Group was awarded '2007 Best IR Awards for IPO' by Nanjing University and China Securities Journal for its exemplary performance in its A-share listing. This group was awarded 'Educational Achievement Award 2007' by LOMA.
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