1. Ping An Insurance (Group) Company of China, Ltd.
(HKEx Stock Code: 2318, SSE Stock Code: , ADR：PNGAY US)
Fact Sheet for Investors (As at December 31, 2012)
Ping An Insurance (Group) Company of China, Ltd. (Ping An or our company) is one of China’s leading personal financial services groups. Since its inception in 1988, Ping An has become one of the foremost integrated financial service group offering mainly insurance, banking, investment products and services. Backed by our integrated financial structure, local expertise and best practices in corporate governance by its international standards, we provide insurance, banking and investment services to nearly 80 million customers, and achieved a net profit attributable to shareholders of the parent company RMB 20,050 million.
Introduction
INSURANCE
Ping An Life
Ping An P&C
Ping An Annuity
Ping An Health
Ping An HK
BANKING
Ping An Bank
INVESTMENT
Ping An Trust
Ping An Securities
Ping An
Asset Management
Overseas Holdings
(HK)
Ping An-UOB Fund
Structure
Business
Establish a core business structure with the insurance, banking and investment businesses of the Group. Build an integrated financial services platform with a model of “one customer, one account, multiple products and one-stop services”; Grow our customer base and assets to be the market leader; Achieve a sustainable growth of profits and provide shareholders with stable returns on a long-term basis.
Positioning
Strategic
SHARED PLATFORM
Ping An
Processing & Technology
Ping An
Channel Development
Ping An Marketing Services
Ping An Technology
Maintain a healthy and steady development of property and casualty insurance and life insurance businesses and promote their market competitiveness to achieve a stable increase in market share; Expand new service areas such as corporate annuity business and health insurance business.
Develop an integrated banking business by fully utilizing various resources including customers, products, channels and platforms to gradually capture synergies across our businesses; Build the banking business into a core pillar of the Group’s integrated financial services business that will offer customers a one-stop service for multiple financial products.
Build and grow investment capabilities and establish an advanced investment platform; Strengthen the asset-liability-management process and implement a sophisticated risk control mechanism; Develop and strengthen third-party assets management business to provide customers with multiple and high-quality investment products and to become the leader in China’s wealth management market.
Insurance
In 2012, our insurance business continued its steady and healthy growth. Ping An Life continued to focus on value creation under the core strategy of “Reaching New Heights” and “Two-Tier Development”, written premiums generated by our life insurance business amounted to RMB191,473 million, among which, written premiums from the more profitable individual life insurance business recorded an increase of 10.0%. Ping An Property & Casualty continued to implement its business strategy of “professional operations and leading services”, which led to a significant increase of 18.5% in premium income to RMB98,786 million, and the market share increased by 0.5 percentage points compared with Of that amount, RMB28,530 million came from the automobile insurance telesales business, representing a 26.5% growth. Its combined ratio was 95.3%, demonstrating good and stable profitability. Ping An Annuity maintained its leading position in the industry in terms of assets under corporate annuity schemes and annuity management fees income. Through the Vitality health promotion program, Ping An Health launched a high-end medical insurance product that provides medical coverage and rewards those arousing a healthy lifestyle. As the first-of-its-kind in China, the product will give Ping An Health a definitive competitive edge in the industry.
In 2012, the banking business realized a net profit of RMB13,232 million, up by 65.9% as compared with 2011, and contributed RMB6,870 million to the Group, representing a proportion of 34.3%, growing from 26.4% in As at December 31, 2012, total deposits amounted to RMB1,021,108 million, representing an increase of 20.0%, total loans amounted to RMB720,780 million, representing an increase of 16.1%. trade finance facilities balance amounted to RMB billion, representing an increase of 23.1% as compared with the end of 2011; while credit cards in force (CIF) reached 11 million. On January 14, 2013, the consolidation of the two banks’ systems was completed and went live online, marking the full completion of the three-year-long consolidation exercise.
Ping An Trust recorded stable growth in its private wealth management business, the cumulative number of high net-worth customers surpassed 18,000. Ping An Securities successfully sponsored 14 IPOs and two refinancing projects as the lead underwriter; ranking third in terms of deal numbers and underwriting revenue for IPOs. It also completed 44 bond issuance projects as the lead underwriter, with the number of deals rising by 159% compared with last year. The investment management business remains innovative and has successfully launched three HKEx-listed ETF funds, strengthening the influence of Ping An’s investment brand in the overseas market.
Banking
Businesses
Highlights
Vision
Investment
DISTINCTIVE COMPETITIVE ADVANTAGES
Maintain stable and healtlhy growth acros the Group’s business on the back of China’s robust economic development; An active promoter of reform and innovation in various areas, Ping An remains a trailblazer in the industry; The leading personal financial services group in China with the largest number of financial service licenses, the widest range of business offerings, and the most closely guarded governance structure; Growing cost advantages and synergies supported by a powerful back office centralization operating platform; the immense power of leading technology sets a solid foundation for the best service experience to customers.
SOUND CORPORATE GOVERNANCE SYSTEM
Corporate duties served by our comprehensive system: the Three Committees operate independently and in compliance with the law; the professional committees and the Executive Committee under the Board conduct decision-making and implementation, respectively; A clear development strategy, a unique corporate culture, and an international and professional management team; A leading and comprehensive risk management system; A disclosure mechanism characterized by truthfulness, accuracy, completeness, timeliness and fairness; An investor relations function that operates with rigor, enthusiasm and effectiveness.
FULL COMMITMENT TO SOCIAL CORPORATE RESPONSIBILITY
Commitment to shareholders: increase asset value and generate stable returns
Commitment to clients:
ensure trust with solid service
Commitment to employees:
career development with more opportunities
Commitment to communities: reciprocate the society and build our nation
Commitment to business partners: achieve win-win with mutually beneficial partnership
Company
Network
Investment
value
Ratings
Cities where the branches of the principal businesses of Ping An are located.
[AAA]: China Chengxin International Credit Rating Co., Ltd.
[AAA]: Dagong Global Credit Rating Co., Limited

2. Fact Sheet for Investors (Updated as at Dec 31, 2012)
( RMB million)
2012
2011
Change
Life Insurance Business
Written premiums
199,483
187,256
6.5%
Net profit
6,457
9,974
- 35.3%
Embedded value
177,460
144,400
22.9%
Solvency margin ratio (%)
190.6
156.1
34.5pp
P&C Insurance Business
Premium income
99,089
83,708
18.4%
4,648
4,979
- 6.6%
Combined ratio (%)
95.3
93.5
1.8pp
178.4
166.1
12.3pp
Banking Businesses
Net interest income
33,243
18,371
80.9%
Net profit*
13,232
7,977
65.9%
Net interest spread (%)
2.19
2.33
(0.14pp)
Capital adequacy ratio (%)
11.37
11.51
Non-performing loan ratio (%)
0.95
0.53
0.42pp
Securities Business
Total income
2,694
3,080
(12.5%)
845
963
(12.3%)
Trust Business
3,031
2,407
25.9%
1,524
1,063
43.4%
Portfolio (%)
Investment
Dec 31, 2012 (Dec 31, 2011)
(RMB Million)
2012
Dec 31
2011
Change
Total Assets
2,844,266
2,285,424
24.5%
Total Liabilities
2,634,617
2,114,082
24.6%
Total Equity
209,649
171,342
22.4%
Embedded Value
285,874
235,627
21.3%
Group solvency margin ratio (%)
185.6
166.7
18.9pp
For the year
ended Dec 31,
Total Income
339,193
272,244
Net Profit attributable to shareholder of the Parent Company
20,050
19,475
3.0%
Basic Earnings Per Share (in RMB)
2.53
2.5
1.2%
Net Investment
Yield (%)
4.7
4.5
0.2pp
Total Investment
2.9
4.0
(1.1pp)
Indexes
Main
Figures
Key
Total Market Cap: HKD billion (Dec 31, 2012)
HK$
H Shares Outstanding 3,130 million (28.34%)
HKEx Stock Code: 2318
52 Week Range
Low – HK$48.70 (Jan 6, 2012)
High – HK$68.35 (Feb 22, 2012)
H Shares - 52 Week Range
Markets
Facts
RMB
A Shares Outstanding 4,786 million (71.66%)
SSE Stock Code:
52 Week Range
Low – RMB33.85 (Jan 6, 2012)
High – RMB46.24 (Jul 6, 2012)
A Shares - 52 Week Range
Source：Bloomberg