Ping An net profit jumps 36.1% to $14b in H1 2026

Revenue increased 12.6% year on year.

Ping An Insurance (Group) Company of China, Ltd.’s first half 2026 (H1 2026) net profit attributable to shareholders of the parent company rose 36.1% year-on-year (YoY) to $13.9b (RMB92,585m).

The insurer also registered revenue of $92.3b (RMB615,351m), a 12.6% increase YoY during the H1 2026 period.

Operating profit after tax attributable to shareholders reached $12.6b (RMB84,196m), up 8.3%, whilst total equity attributable to shareholders grew 2.8% from the start of the year to $154.2b (RMB1,028,084m).

The board approved an interim cash dividend of $0.15 (RMB0.98) per share, representing a 3.2% increase year-on-year.

The group's Life and Health division generated an operating profit after tax of $8.4b (RMB55,872m), up 2.3%.

New Business Value (NBV) for the division expanded 11.2% to $3.7b (RMB24,847m). Within this sector, participating insurance products accounted for over 90% of new business, whilst the share of long-term premium payment period products in the agency channel grew by 6 percentage points.

Average NBV per agent increased by 14.1%, and bancassurance NBV rose 18.0%. 

Non-agency channels, including bancassurance and community finance, accounted for nearly 40% of total Life and Health NBV, up 3.8 percentage points.

Ping An Property and Casualty (P&C) recorded premium income of $26.8b (RMB178,751m), up 4.0% year-on-year, supported by a 21.5% rise in new energy vehicle insurance premiums.

Total P&C insurance revenue reached $25.8b (RMB171,879m), up 3.8%, whilst its combined ratio improved by 0.1 percentage points to 95.1%.

Overall retail customer numbers grew 0.9% from the beginning of the year to 253 million, with high-value customers rising 2.6%.

The retention rate for customers holding products across three or more group business lines stood at 99%, whilst 76.6% of customers have been with the firm for five years or longer. Internal customer acquisition costs were 35% to 45% lower than external channels.

On the technology and operational front, artificial intelligence handled inquiries and processing in 88% of business scenarios, with average daily AI token consumption exceeding 120 billion in June 2026.

The Group's Global Emergency Assistance network responded to more than 1,500 requests in the first half of the year, whilst the Ping An Auto Owner mobile application reached over 120 million active users in the 12 months up to 30 June 2026.

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