Ping An Insurance: Direct Written Premium Up 12 Percent YoY in Jan-Aug

Source: Company Disclosure, ChinaScope Financial (Data)

+       Ping An Insurance (Group) Co. of China Ltd. (2318: HKG; 601318: SHA) announced today that in the January-August period, direct written premium of the company’s four wholly-owned subsidiaries amounted to CNY 160.88 billion, up 11.88 percent year-on-year.

+       Between January and August, the direct written premiums of the four subsidiaries were: CNY 91.9 billion (Ping An Life Insurance Co., Ltd.), CNY 64.66 billion (Ping An Property and Casualty Insurance Co., Ltd.), CNY 146 million (Ping An Health Insurance Co., Ltd.), and CNY 4.17 billion (Ping An Annuity Insurance Co., Ltd.).

DWP growth of Ping An (601318: SHA)’s life insurance line continued to grow in August and growth of p&c stayed at a relatively high level. The company’s firm position in the p&c market provides Ping An with strong growth fundamentals despite industry downturn.

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