Ping An: 2023 results

Ping An Insurance Group has published its results for the year ended 31 December 2023.

In accordance with the new IFRS 17 accounting standards, insurance revenue was up 4.7% to 1 031.9 billion CNY (145.5 billion USD).

The net profit stood at 85.665 billion CNY (12.1 billion USD), down by 22.8% compared with the 111.008 billion CNY (16 billion USD) recorded at the end of 2022. The operating result amounted to 117.989 billion CNY (16.6 billion USD), representing a 19.7% decline over one year.

The company's shareholders' equity as at 31 December 2023 stood at 899 billion CNY (126.8 billion USD), a 3.4% increase compared with the same period in 2022.

For 2023, the Chinese group is distributing a dividend of 2.43 CNY (0.34 USD) per share, 0.4% higher than the dividend paid in 2022.