Ping An's Profit Rises 8.3% Amidst Economic Headwinds

Ping An Insurance Group reported an 8.3% year-on-year increase in operating profit attributable to shareholders, reaching RMB125,905 million for the nine months ending September 30, 2026. The results come as China’s economy navigated a complex external environment, with the company attributing its performance to its integrated finance and health-senior care strategy.

The Group’s life and health insurance business saw operating profit rise 5.7% year-on-year to RMB87,238 million. This growth was supported by a shift towards longer-premium payment products, increasing their share in agency channel new business by over 10 percentage points. Ping An Property & Casualty (P&C) also demonstrated positive momentum, with premium income increasing 3.5% year-on-year to RMB265,215 million, driven largely by growth in new energy vehicle insurance, up 21.2%. The P&C business also improved its combined ratio by 1.4 percentage points to 95.6%, indicating improved profitability.

Investment performance remained robust, with the insurance funds investment portfolio growing 5.2% year-to-date to RMB6.83 trillion as of September 30, 2026. The portfolio’s 10-year average net and comprehensive investment yields both exceeded the company’s embedded value long-run investment return assumption. Separately, Ping An Bank reported revenue and net profit growth of 2.4% and 2.2% year-on-year, respectively, reaching RMB103,100 million and RMB39,186 million. The bank’s non-performing loan ratio remained stable at 1.05%, and its core tier 1 capital adequacy ratio increased by 0.25 percentage points to 9.61%.

The company continued to invest in customer experience through its “Service Year 2026” initiative, with its AI-powered Express Service handling over 150 million requests. Ping An also expanded its presence in brain health management, launching integrated services for Alzheimer's disease. These initiatives, alongside share purchase plans for employees, aim to strengthen the company’s governance and long-term sustainability.

Overall, Ping An’s performance reflects a sustained focus on integrated finance and a dual-pronged health-senior care strategy. The 8.3% rise in operating profit, coupled with improvements in key metrics across its life and health, property and casualty, and banking segments, demonstrates the company's ability to navigate a challenging economic landscape and deliver consistent growth. The stable asset quality at Ping An Bank, alongside its improved capital adequacy ratio, further underscores the Group's overall financial health.