Ping An Insurance: net profit down as at 30 September 2022

Ping An Insurance has recorded a 2.2% increase in its turnover as at 30 September 2022. On that date, written premiums reached 604.655 billion CNY (84.5 billion USD).

During the first nine months of 2022, the operating result went up by 3.8% to reach 123.288 billion CNY (17.22 billion USD).

The net profit, however, was down by 6.3% over the year to a reported 76.463 billion CNY (10.7 billion USD).

The insurance activities of Ping An Insurance are still faced with several challenges, including the volatility of the financial markets, the decline in demand, the supply chain disruption and the uncertainties related to the Covid-19 pandemic.