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.
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