Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) announced that Ping An ranked #23 in the FutureBrand Index 2022. Ping An also topped the Financial Sector list for the second consecutive year.
The FutureBrand Index is derived from a unique global brand perception study of the PwC Global Top 100 Companies by market capitalization. The study is based on interviews with business leaders, decision makers and market watchers. The companies are ranked in terms of brand perception strength arising from 18 indicators, including innovation, people, respect, trust, thought leadership and inspiration. The result is a rigorous assessment of how future-proof the world’s 100 most prominent companies are.
FutureBrand Australia CEO Rich Curtis said this year’s FutureBrand Index highlights how the strongest brands are perceived to be “moving ahead” by focusing on people’s wellbeing and inspiring positive change. According to the report, it is no longer enough for companies to talk about what they plan to do, they must tangibly address the biggest challenges facing society today, such as climate change.
For Ping An, this is a critical year for its cultural reshaping, strategy upgrade and transformation. Ping An is continuing to build out its “managed care model” and lay a solid foundation for long-term sustainable, healthy growth by providing customers with a “worry-free, time-saving, and money-saving” experience. Capitalizing on its “integrated finance + healthcare” strategy and digital transformation, Ping An maintained steady growth in the first half of 2022, despite the challenging international environment and the impact of COVID-19 in China. The Group achieved an annualized operating return on equity (ROE) of 20.4% in the first half of 2022, with operating profit attributable to shareholders of the parent company rising 4.3% year-on-year to RMB85,340 million. Net profit attributable to shareholders of the parent company increased 3.9% year-on-year to RMB60,273 million.
Ping An also integrates sustainability into its corporate strategy. To support China’s carbon peak and carbon neutrality goals, the Group upgraded its green finance initiative, including green insurance, green investment and green credit. As of June 30, 2022, Ping An’s green investment and financing totaled RMB249,355 million and green banking business totaled RMB161,735 million. Premium income of environmentally sustainable insurance products totaled RMB76,971 million in the first half of 2022. Ping An also continued to deliver its Ping An Rural Communities Support program and implemented the innovative project of bringing insurance, finance, and healthcare to rural areas. Ping An cumulatively provided RMB49,720 million for poverty alleviation and industrial revitalization as of June 30, 2022.
In addition to Ping An, Chinese financial brands in general have a significant presence in the FutureBrand Index 2022, including China Merchants Bank (49), China Construction Bank (53), Agricultural Bank of China (56), Industrial & Commercial Bank of China (86) and Bank of China (98).
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