Group Total Assets Exceed 14 Trillion Yuan
Hong Kong and ShanghaiApril 29, 2026 /PRNewswire/ — On April 28, 2026, Ping An Insurance (Group) Company of China, Ltd. (hereinafter referred to as “Ping An”, “Ping An Group”, “the Group”, or “the Company”, stock codes: Hong Kong Stock Exchange 02318, Shanghai Stock Exchange 601318) announced its results for the three-month period ended March 31, 2026.
2026 marks the first year of the “15th Five-Year Plan”. Despite a complex and volatile external environment and economic challenges, China’s economy achieved a solid start in the first quarter. Ping An remained committed to its core financial business, continuously deepening the “integrated finance + healthcare and elderly care” strategy, actively driving service upgrades, and building a differentiated core competitiveness. This resulted in stable overall operations, high-value growth in core businesses, and demonstrated resilience in development.
In the first quarter of 2026, the Group achieved an operating profit attributable to shareholders of the parent company of RMB 40.78 billion, a year-on-year increase of 7.6%. As of March 31, 2026, the Group’s equity attributable to shareholders of the parent company stood at RMB 1,018.31 billion, an increase of 1.8% from the beginning of the year. The Group’s total assets exceeded 14 trillion yuan, reaching approximately RMB 14.17 trillion. Significant results were achieved in the high-quality development of the life insurance business. In the first quarter of 2026, the first-year premiums for new business in life and health insurance were RMB 66.34 billion, a year-on-year increase of 45.5%. The new business value reached RMB 15.574 billion, a year-on-year increase of 20.8%. The contribution share of bancassurance channels, community financial services, and other channels to Ping An Life’s new business value increased by 6.8 percentage points year-on-year. Integrated finance enhances customer management efficiency. As of March 31, 2026, Ping An’s individual customer base reached nearly 252 million, an increase of 0.2% from the beginning of the year. The retention rate for customers holding three or more products within the Group over the past 12 months was 99%. Differentiated advantages in healthcare and elderly care empower core businesses. As of March 31, 2026, the one-click code payment service covered 111,000 pharmacies nationwide, and over 290,000 customers had qualified for home-based elderly care services. Upgraded “services” enhance customer experience. Launched the financial industry’s first AI assistant capable of handling tasks with a single command, “Quick Service”, with AI handling 84% of business transactions. Over the past 12 months, the monthly active customers on the online APP were approximately 90 million, a year-on-year increase of 7.7%. Upgraded the “one-button emergency” global emergency rescue service, providing 38 services across three major scenarios: “home, outdoor, and overseas”, safeguarding customer safety.
Integrated Finance Model Builds Core Competitiveness, Three Core Businesses Achieve High-Value Growth
The integrated finance model builds core competitive advantages, continuously improving customer management efficiency. As of March 31, 2026, the Group’s individual customer base reached nearly 252 million, an increase of 0.2% from the beginning of the year. The average number of contracts held per customer was 2.94, stable compared to the beginning of the year. Customer quality continues to optimize. As of March 31, 2026, the number of value customers of the Group increased by 1.2% from the beginning of the year, outpacing the overall growth rate of individual customers. Customer retention rates remain high. Ping An systematically meets customers’ diverse needs for finance, healthcare, and elderly care through four major product categories: protection, assets, credit, and services. It enhances customer interaction and stickiness through service-type products. As of March 31, 2026, the retention rate for customers holding two types of products over the past 12 months was 97%, and for those holding three or more types, it was as high as 99%. Customer activity has significantly increased. In October 2025, the “Nine-in-One” platform was launched, introducing a unified entry point and “Quick Service” on the APP. As of the end of March 2026, the monthly active customers on the online APP over the past 12 months were approximately 90 million, a year-on-year increase of 7.7%.
The comprehensive strength of life insurance channels has been enhanced, demonstrating multi-faceted high-quality development. In the first quarter of 2026, the new business value of the life and health insurance business reached RMB 15.574 billion, a year-on-year increase of 20.8%. Market demand was strong, with first-year premiums for new business growing robustly by 45.5%. The contribution share of bancassurance channels, community financial services, and other channels to Ping An Life’s new business value increased by 6.8 percentage points year-on-year. Comprehensively building multi-channel professional sales capabilities. The agency channel launched the Insurance, Wellness, and Advisor (IWA) brand to enhance professional operational levels. The bancassurance channel has achieved comprehensive cooperation with major state-owned banks and leading joint-stock banks, accelerating the expansion of cooperation with high-quality city commercial banks. The community financial services channel saw a year-on-year increase of 1.8 percentage points in the full-payment persistency rate for existing customers in the first quarter of 2026. Gradually launching “Insurance + Service” products. Products are continuously iterated to meet customers’ diversified insurance needs, including the launch of substandard medical insurance and the addition of an 8-year payment term to enrich customer choices. Exploring service innovation, in the first quarter of 2026, the health management service covering the entire medical process served nearly 8 million customers. As of the end of March 2026, over 290,000 customers had qualified for home-based elderly care services. High-quality elderly care communities have been established in 5 cities, with Shanghai Yiniancheng · Jing’an 8 and Shenzhen Yiniancheng · Futian already in operation.
Property and casualty insurance business scale grows steadily, business quality continuously optimizes. In the first quarter of 2026, Ping An P&C’s gross written premiums were RMB 90.951 billion, a year-on-year increase of 6.8%. Gross written premiums for non-motor vehicle insurance were RMB 37.514 billion, a year-on-year increase of 19.5%. Insurance service income was RMB 84.334 billion, a year-on-year increase of 3.9%. The overall combined ratio was 95.8%, improving by 0.8 percentage points year-on-year. The new energy vehicle insurance business continued to develop positively, with gross written premiums increasing by 16.1% year-on-year, and underwriting profitability remained stable.
Insurance fund investments adhere to the guiding principles of long-term investment and liability matching. In the first quarter of 2026, the Company’s insurance fund investment portfolio achieved a non-annualized net investment return rate of 0.8%. As of March 31, 2026, the scale of the Company’s insurance fund investment portfolio was approximately RMB 6.55 trillion, an increase of 0.9% from the beginning of the year.
Bank achieves “dual growth” in revenue and profit, asset quality remains generally stable. In the first quarter of 2026, Ping An Bank achieved operating revenue of RMB 35.277 billion, a year-on-year increase of 4.7%, and net profit of RMB 14.523 billion, a year-on-year increase of 3.0%. As of the end of March 2026, the non-performing loan ratio was 1.05%, and the provision coverage ratio was 219.59%. The core tier 1 capital adequacy ratio was 9.51%, an increase of 0.15 percentage points from the beginning of the year. As of March 31, 2026, managed retail customer assets (AUM) were RMB 4,287.99 billion, an increase of 1.2% from the beginning of the year. Corporate loan balances were RMB 1,730.959 billion, an increase of 4.1% from the beginning of the year, with good growth in loans to areas such as technology finance and manufacturing.
Healthcare and Elderly Care Strategy Continues to be Implemented, “Service” Innovation Enhances Customer Experience
Leveraging its unique ecosystem advantage of “representing the payer and integrating the provider”, Ping An is committed to providing customers with the most cost-effective healthcare and elderly care services. Building core advantages on the payment side. In the first quarter of 2026, Ping An achieved health insurance premium income of over RMB 47.3 billion, of which medical insurance premium income was RMB 24.35 billion, a year-on-year increase of 6.4%. Deeply empowering the development of core financial businesses. In the first quarter of 2026, the average first-year premium per new life insurance policy for customers enjoying healthcare benefits, home-based elderly care benefits, and high-quality elderly care benefits increased to 1.2 times, 5.9 times, and 28.8 times, respectively. Accelerating to become a key driver of the second growth curve. In the first quarter of 2026, Peking University Medical Group achieved operating revenue of RMB 1.327 billion, and Ping An Health achieved operating revenue of RMB 1.159 billion.
Building a full-scenario service system covering “online, in-hospital, at-home, and at-work”. Online, leveraging self-developed AI large models to empower online doctors, in the first quarter of 2026, the number of AI doctor users exceeded 5.6 million. In-hospital, as of March 31, 2026, Ping An had cooperated with over 38,000 domestic hospitals, achieving 100% coverage of top 100 hospitals and tertiary hospitals in China. At-home, as of March 31, 2026, over 290,000 customers had qualified for home-based elderly care services, an increase of approximately 50,000 from the beginning of the year. At-work, as of March 31, 2026, Ping An covered 165,000 corporate customers. The one-click code payment service for offline medication purchases for corporate health management customers covered 111,000 pharmacies nationwide.
Major upgrade in the “Year of Service” to comprehensively enhance customer experience. Taking the 2026 “Year of Service” as an opportunity, Ping An upgraded two innovative services: AI “Quick Service” and “Global Emergency Rescue”. In October 2025, the “Nine-in-One” platform was launched, introducing a unified entry point and “Quick Service” on the APP. This created the financial industry’s first AI financial assistant capable of handling tasks with a single command for nearly 252 million customers, enabling transactions, financing, claims, and emergency assistance, providing a one-stop solution for customer needs through a single entry point. Upgraded the “one-button emergency” global emergency rescue service, adhering to the “3A” concept of “Anytime, Anywhere, Anything”. Collaborating with over 200,000 medical institutions and 600,000 high-quality service providers, the service reaches 233 countries and regions worldwide, providing 38 services to safeguard customer safety.
Building a leading technology foundation, “AI in ALL” empowers financial businesses. In April 2026, Ping An’s “Medical Large Model 3.5” achieved the highest global score on the authoritative global medical AI evaluation set HealthBench Hard (released by OpenAI), surpassing multiple leading technology companies such as Meta and OpenAI. During the same period, Ping An’s financial large model ranked first overall on the authoritative large model evaluation system CNFinBench public list. “AI in ALL” drives business to optimize experience, control risks, reduce costs, and boost sales. Optimizing experience, Life Insurance created a new claims service brand “111 Express Claims”, with flash claims accounting for 59% in the first quarter of 2026. Controlling risks, in the first quarter of 2026, Ping An P&C’s anti-fraud intelligent claims interception reduced losses by RMB 3.65 billion, a year-on-year increase of 6.7%. Reducing costs, in the first quarter of 2026, Ping An’s AI agent service volume was approximately 487 million interactions, covering 82% of Ping An’s total customer service volume. The AI code penetration rate reached 40%, effectively enhancing R&D personnel efficiency. Boosting sales, AI agents empower demand analysis, personalized recommendations, and script support, assisting in achieving sales of RMB 30.442 billion in the first quarter of 2026.
Fulfilling social responsibilities, serving green development and rural revitalization. In the first quarter of 2026, Ping An’s green insurance gross written premiums were RMB 19.119 billion. Through the “Three Village Project”, it provided RMB 16.930 billion in rural industry support funds.
Looking ahead, the general trend of high-quality development in China’s economy remains unchanged. A series of policies continue to take effect, continuously creating new advantages and accumulating new momentum for domestic demand growth and economic recovery. Ping An will always adhere to the original intention of finance serving the people, maintain strategic focus, implement the business policy of “high-value growth, service innovation, technology leadership, and legal compliance”, deepen the dual-wheel drive strategy of “integrated finance + healthcare and elderly care” and technology-driven strategy, promote service upgrades to enhance core competitiveness, do a good job in the “five major articles” of finance, and strive to achieve long-term high-quality and sustainable development.
About Ping An
Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or “the Group”) was founded in Shekou, Shenzhen in 1988. With the support of governments at all levels, regulatory authorities, customers, and all sectors of society, it has grown into an internationally leading integrated finance + healthcare and elderly care service group, providing high-quality services to over 240 million individual customers and over 4 million corporate customers. Currently, the Group’s total assets exceed 13 trillion yuan, making it the world’s largest insurance group by total assets. Ping An ranks 29th on the Forbes “Global 2000” list, 1st among Chinese insurance companies; 47th on the Fortune Global 500 list, 9th among global financial enterprises; and has been ranked 1st on Brand Finance’s “Global Insurance Brand Value 100” list for nine consecutive years. It holds an MSCI ESG rating of AAA, ranking first in the Asia-Pacific region for “Diversified Insurance and Brokerage” for three consecutive years. Ping An is listed on the Main Board of the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
For more information, please visit the company’s official website at www.pingan.cn or the official Ping An Weibo account at http://t.sina.com.cn/pingan/.