China’s Ping An Insurance posts 6.45% profit rise on life insurance growth
Its net earnings for 2025 is 134.8 billion yuan, below a median estimate of 136.8 billion yuan
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[BEIJING] China’s Ping An Insurance reported a 6.45 per cent year-on-year rise in net profit in 2025, driven by growth in new business value margin and equity investment gains, based on a filing on Thursday (Mar 26).
The insurance company posted 134.8 billion yuan (S$25.1 billion) in net profit last year, below a median estimate of 136.8 billion yuan, based on London Stock Exchange Group data. Its operating profit rose 10.3 per cent in 2025.
New business value (NBV) in its life and health insurance segment, which measures the profitability of new policies sold, grew 29.3 per cent year on year to 36.9 billion yuan.
The insurer’s NBV growth reflects a broader industry shift towards higher-margin protection products, after years of declining agent productivity and weak consumer demand.
Still, Ping An warned that the headwinds “from the changing external environment will heighten” and the domestic economy is facing certain challenges in the short term.
The number of retail customers rose 3.5 per cent to 251 million by end-December from the year before, the filing showed.
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Ping An’s insurance funds investment portfolio grew 13.2 per cent to 6.5 trillion yuan as at December from the beginning of 2025, based on the filing.
The insurer’s investment performance benefited from a rally in Chinese equities as the authorities strengthened support for capital markets.
This included measures introduced in early 2025, aimed at channelling hundreds of billions of yuan from major insurers into stocks.
China’s push into artificial intelligence and advanced technologies drew global investors back to the market, which helped sustain bullish sentiment till 2025.
Banking unit Ping An Bank reported on Mar 19 that its net profit in 2025 fell 4.2 per cent year on year, as pressure on interest margins persists. REUTERS
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