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Key landmarks in Ping An Insurance’s history

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Magazine Issue: 
Earthquake: natural disaster and risk management [3]
Magazine date: 
Mar 2023
  • 1988
    Establishment of Shenzhen Ping An, the first private insurance company in China
  • 1991
    Establishment of "Securities business", a securities company
  • 1992
    New name adopted: Ping An of China
  • 1993
    Collaboration with Guohua Life Insurance, Taïwan
  • 1994
    - Morgan Stanley and Goldman Sachs take a stake in Ping An
    - Start of life insurance business
  • 1995
    Establishment of Ping An Securities Company
  • 1996
    - Establishment of Ping An Trust
    - Acquisition of ICBC Pearl River Delta Financial Trust Joint Company, renamed Ping An Trust & Investment Company
  • 1997
    Rapid development of Ping An's life business, which became the group's main class of business
  • 1999
    Launch of new products in cooperation with Prudential
  • 2002
    - Acquisition of 10% of the capital by HSBC
    - The premiums reach 50 billion CNY (6 billion USD) and the assets 100 billion CNY (12.1 billion USD)
  • 2003
    - Establishment of Ping An Insurance (Group) Company of China, Ltd
    - Acquisition de Fusian Asia Bank
  • 2004
    - Listing on the Hong Kong Stock Exchange
    - Start of the banking business
    - Establishment of Ping An Annuity
  • 2005
    - The group's market value exceeded 100 billion CNY (12 billion USD)
    - Establishment of Ping An Health Insurance
  • 2006
    - Centralization of operations within an integrated platform
    - Establishment of Ping An Asset Management
  • 2007
    Ping An Group listed "A" on the Shanghai Stock Exchange
  • 2008
    Ping An enters the "Fortune 500 Company" ranking
  • 2011
    Acquisition of Shenzhen Development Bank
  • 2012
    - Establishment of Lufax
    - Sale of 15.6% of HSBC's shares in Ping An to Charoen Pokphand Group, Thailand, (CP Group) for 9.4 billion USD
  • 2013
    Merger between Ping An Bank et Shenzhen Development Bank
  • 2014
    Ping An, ranked as the world's leading insurance brand
  • 2016
    - Insurance premiums exceed 300 billion CNY (43 billion USD)
    - The company is listed in Fortune magazine's Top 50
  • 2017
    - Record market capitalization of over 1 trillion CNY (154 billion USD)
    - Acquisition of a 5.01% stake in HSBC for 9.92 billion USD
  • 2018
    - Ping An Good Doctor listed on the Hong Kong Stock Exchange
    - Establishment of the "Rural Communities Support" program"
  • 2019
    - OneConnect goes public on the New York Stock Exchange
    - Number of retail customers exceeds 200 million
  • 2020
    - Lufax goes public on the New York Stock Exchange
    - Creation of new health products to fight Covid-19
  • 2021
    - Group's net assets reach 1.569 billion USD
    - In June, Charoen Pokphand Group (CP Group) reduces its shareholding in Ping An to 6.85%
  • 2022
    - “CSR Initiative of the Year” award granted to Ping An Property and Casualty Insurance
    - Ping An named China’s best Bank for digital solutions

Read also | Ping An Insurance Group: the Chinese giant’s story [4]

Ping An Insurance
Thu, 23/03/2023 - 12:54

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