Ping An Enters Top 40 on 2017 Fortune Global 500 List at 39th

(MENAFNEditorial) HONG KONG and SHANGHAI, July 20, 2017 /PRNewswire/ -- The "2017 Fortune Global 500" ranking has been officially released. Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx: 2318; SSE: 601318) entered into the top 40 and ranked 39th this year, jumping 2 places over its 2016 rankings placement, ranked 9th among all the shortlisted Chinese enterprises. With its leading business scale, strong growth and outstanding overall competitiveness, it also remains the top-ranked insurance company among all Chinese insurance enterprises. In addition, Ping An ranked 8th among all global financial institutions.

The "Global 500" list of Fortune Magazine is regarded as the world's most renowned and authorita­tive corporate ranking for global large-scale enterprises. This ranking measures companies primarily by their annual revenue and profit, and has become an authoritative indicator around the world of a company's influence, scale and capabilities. According to the 2017 list, Ping An's annual revenue grew to US$116,581 million and profit of US$9,392 million.

In 2016, Ping An successfully continued its market-leading growth rates, illustrated by total revenues of RMB774,488 million, representing a year-on-year growth of 11.7%. Net profit was RMB72,368 million, up 11% year-on-year, while net profit attributable to shareholders of the parent company was RMB62,394 million, representing a year-on-year growth of 15.1%.

The Group's individual business contributed RMB40,829 million, increasing by 29.5% compared to 2015, accounting for 65.4% of Ping An's net profit attributable to shareholders of the parent company. As at the end of 2016, the individual customer base and the number of contracts per customer reached 131 million and 2.21 respectively, with profit per customer increasing from RMB289 to RMB312. The steady growth in value of the individual business has become a strong driver of Ping An's organic growth in value.

While achieving outstanding business performance, Ping An remains dedicated to its corporate social responsibility (CSR) activities over the years. In areas such as education in lower socioeconomic regions, environmental protection, public welfare, disaster relief and volunteering services. To date, Ping An has accumulatively contributed RMB300 million into these areas of CSR. As a Group, it continues to make contributions into public welfare, while also actively encouraging employees to participate in these activities. In 2017, Ping An established the Board of Educational Public Welfare, and implemented a "Community Day", which encourages the 1.5 million employees and agents of Ping An to make their own small acts of individual kindness.

Ping An has earned wide recognition in the community for its CSR initiative, with the Company named "The Most Respected Chinese Company" for 14 consecutive years; "The Most Responsible Corporate" for nine consecutive years; and earning the title of "International Carbon Value Award" by World Economic & Environmental Conference for a number of years.

Ping An said: "The 39th place ranking in the Fortune 500 list vindicates our work over the past year, and will also inspire us to further innovate, and continue on our pursuit of excellence. The robust growth of Ping An is a result of the support from our shareholders, the trust and kindness of our customers, and our combined persistence towards the idea of 'Thrive in Competition and Advance through Innovation'.

In the face of constant technology transformation, Ping An will continue to execute the spirit of 'Technology-driven Finance', continue to optimize our online platform and building the Four Ecosystems. Thus developing a technology-driven business model, and stepping forward to be a world-leading personal financial service provider that provides simple but perfect service to our customers."

The "2017 Fortune Global 500 List" featured a minimum market capitalization threshold of US$21.6 billion, accounting for total combined revenue of US$27.7 trillion and total combined profit of US$1.52 trillion. The number of Greater Chinese enterprises (including Hong Kong and Taiwan) on the "Fortune Global 500" list stood at 115 this year. Among which, 10 Mainland Chinese enterprises were first listed. In addition to Ping An, Chinese enterprises ranking in the top 50 of the list include State Grid (2nd place), Sinopec Group (3rd place), China National Petroleum (4th place), Industrial & Commercial Bank of China (22nd place), China State Construction Engineering (24th place), Hon Hai Precision Industry (27th place), China Construction Bank (28th place), Agricultural Bank of China (38th place), SAIC Motor (41st place) and Bank of China (42nd place). Six Shenzhen-based enterprises were listed. In addition to Ping An, Shenzhen-based enterprises include Huawei Investment & Holding (83rd place), Amer International Group (183rd place), China Merchants Bank (216th place), China Vanke (307th place) and Tencent (first time on the list, 478th place).

-End-

About Ping An

As China's first joint stock insurance company, Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is dedicated to becoming a world-leading personal financial services provider. Today, it is an integrated, compact, multi-functional financial services group with services that include insurance, banking, and investment. As at December 31, 2016, the Group had over 1.4 million employees and agents and 130 million individual customers. As at the end of 2016, the Group's consolidated total assets reached RMB5.58 trillion while equity attributable to shareholders of the parent company stood at RMB383,449 million. Ping An Life and Ping An Property & Casualty are both ranked the second largest in China, Ping An Annuity ranked top in China in their respective areas by premium income. Its subsidiary Ping An Bank is China's first joint stock bank. The Company's key areas of business include investment, with subsidiaries such as Ping An Trust, Ping An Securities and Ping An Asset Management. Further, Ping An strives to develop internet finance, including Lufax, Ping An Good Doctor, Ping An Haofang, E-Wallet, Finance One Account. It has achieved significant growth in both the scale and user base of internet finance. As at December 31, 2016, the number of internet users of the Company reached 346 million.

Ping An ranked 16th in Forbes' latest Global 2000, it ranked 39th in Fortune Magazine's Global 500 Leading Companies. Apart from these accolades, Ping An ranked 61st in WPP Kantar Millward Brown's BrandZTM Top 100 Most Valuable Global Brands ranking.

For more information, please visit , or .

MENAFN2007201700701241ID1095643537

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.