HONG KONG and SHANGHAI, Nov. 27, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318) is pleased to announce that Dr. Ma Mingzhe, Chairman of Ping An, has been honored by The Hong Kong Institute of Directors. His Director of the Year Award 2023 in the Listed Companies Executive Directors category recognizes his exemplary leadership and innovative approaches in corporate governance at Ping An. This is the fourth time Dr. Ma has received this prestigious award.
The panel of judges from The Hong Kong Institute of Directors unanimously praised Dr. Ma for his exceptional leadership and foresight, saying: "Dr. Ma is a seasoned and open-minded board chairman with strong commercial acumen. He is focused on long-term strategic planning, talent management, and corporate governance. He fully understands the importance of succession planning at the board and management levels. He has a good sense of external environments. Under his leadership, Ping An consciously adopts ESG investment philosophies to enhance its post-investments. Dr Ma absolutely deserves the Award."
Dr. Ma said: "The Director of the Year Awards bestowed by the Hong Kong Institute of Directors stand as a pillar of professionalism and authority within our industry. It is with immense honor and pride that I accept this award for the fourth time. This accolade serves as an affirmation of Ping An's steadfast commitment to stringent corporate governance and the collective endeavor of our esteemed board members. Throughout our 35-year venture, Ping An has relentlessly pursued a pinnacle of excellence, by integrating global best practices in corporate governance and tailor-making them to suit our local context in China. We have a meticulously constructed framework that not only complies with international standards but also recognizes the unique local characteristics. We have placed significant emphasis on fostering visionary leadership and advancing sustainable long-term progress. This honor is not only a recognition but also a source of inspiration for us. We pledge to maintain high standards of corporate governance, further enhance our strategic management prowess, and remain focused on our "Integrated Finance + Healthcare and Elderlycare" strategy. As we strive to augment the quality of our core business operations, our unweaving dedication is to generate lasting value for our clients, shareholders, employees, and the society we serve."
Ping An's Board of Directors focuses on the foresight, guidance and accuracy of the Company's strategy, prioritizes long-term and sustainable development and captures development opportunities. It remains focused on customer needs and enhancing its digital prowess to foster high-quality growth. By the end of September 2023, the Company had nearly 230 million retail customers, with an average of 2.99 contracts per customer. It has made significant strides in life insurance reform, and the innovative changes implemented over the past three years led to a 40.9% year-on-year increase in the new business value of life and health insurance to RMB33.574 billion in the first three quarters of 2023. In addition, the Company's healthcare and elderlycare services are progressing well. Customers entitled to '+ services' benefits in the healthcare ecosystem accounted for approximately 68% of Ping An Life's new life insurance business value in the first three quarters of 2023.
Ping An's Board is also proactively addressing the challenges and prospects arising from climate change. It continues to advance its green finance initiative and uphold its social responsibilities to guarantee sustained stable business growth. By the end of June 2023, green investment in Ping An's insurance assets reached RMB140.929 billion, while the balance of green loans stood at RMB134.926 billion. During the first three quarters of 2023, the company's green insurance policies generated original premium income of RMB26.276 billion. Ping An has also committed a total of RMB103.241 billion to aid in rural industrial assistance through its Rural Communities Support programs since 2018.
Ping An emphasizes that, guided by its board, the Company is committed to further developing its "integrated finance + healthcare" strategy, driven by technology. This approach aims to strengthen the synergies within integrated finance while actively enhancing its healthcare and elderlycare offerings. The Company is also dedicated to elevating its operational management standards, advancing digital transformation across the board, and focusing on cost-effective and efficient practices. This strategy is designed to foster high-quality development and consistently generate substantial value for its customers, employees, shareholders, and society.
The Directors of the Year Awards, the first of its kind, have been held annually by The Hong Kong Institute of Directors since 2001. It is dedicated to recognizing outstanding boards and directors, highlighting the significance of good corporate governance, and promoting director professionalism and excellence.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) strives to become a world-leading integrated finance and healthcare services provider. With nearly 230 million retail customers, Ping An is one of the largest financial services companies in the world. Under the technology-driven "integrated finance + healthcare" strategy, Ping An provides professional "financial advisory, family doctor, and elderlycare concierge" services. Ping An advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2022, Ping An had RMB11,137,168 million in total assets. The Group ranked 16th in the Forbes Global 2000 list in 2023 and ranked 33rd in the Fortune Global 500 list in 2023.
For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.
