Chinese insurer Ping An has reported a 4.5% increase in property & casualty (P&C) insurance revenue for the first nine months of 2024, totaling RMB246,022 million. The company’s P&C operating profit surged by 39.7% year-on-year to RMB13,987 million, while the combined ratio improved to 97.8%. In its Life & Health division, new business value rose significantly, with over 69.6% of this value attributed to clients receiving health and senior care services. Additionally, Ping An’s banking unit saw a modest net profit growth of 0.2% to RMB39,729 million, complemented by a 12.7% increase in its investment portfolio amounting to over RMB5.32 trillion.
