by Amruth Sundarkumar | Aug 24, 2022 | China, Corporates
Chinese insurer Ping An reported a profit of RMB 60.3bn ($8.8bn) for 1H 2022, up 4% YoY, beating analysts expectations of a 9% decrease. Its results were helped by its banking business, which reported a 26% increase in net profits to RMB 22.1 ($3.2bn). However, group...
by Amruth Sundarkumar | Aug 12, 2022 | Banks, Global
Ping An Insurance Group, which is HSBC’s largest shareholder, is of the view that the bank’s management has not been fair in its assessment of spinning off its Asia business, SCMP reported. Since April, Ping An has asserted that separating HSBC’s Asian operations from...
by Megha Malhotra | Aug 27, 2021 | China, High Yield Bonds
China’s largest insurer by market cap, Ping An Insurance reported disappointing 1H earnings on Thursday on the back of a decline in sales of its life and motor insurance policies as well as huge provisions. Profits for the six months ended June 30 came in at RMB...
by bondevalue | May 3, 2021 | China, High Yield Bonds
Ping An Insurance Group through its Ping An Life unit will lead the restructuring of Peking University Founder Group (PUFG) along with two municipal governments in the southern province of Guangdong. PUFG is a state owned conglomerate founded by Peking University that...
by bondevalue | Apr 26, 2021 | China, Investment Grade Bonds
Ping An Insurance, China’s largest insurance company reported resilient Q1 earnings late last week despite a huge impairment. The Shenzhen-based company reported an operating profit of RMB 39.12bn ($6bn) and net profit of RMB 27.22bn ($4.2bn), up 8.9% and 4.5%...
