Ping An Wins Sixth Director of the Year Award and Inaugural Climate Governance Award from the Hong Kong Institute of Directors

HONG KONGandSHANGHAI,Nov. 29, 2024/PRNewswire/ -- Ping An Insurance (Group) Company ofChina, Ltd. (hereafter"Ping An"or the"Group", HKEX: 2318/82318, SSE: 601318) received the Director of the Year Award and the Climate Governance Award for 2024 from the Hong Kong Institute of Directors (HKIoD) onNovember 28. This marks the sixth timePing An'sBoard of Directors has received the Director of the Year Award.Ping Anis also the first recipient of the inaugural Climate Governance Award.

Since its establishment in 1988,Ping Anhas become one of the largest integrated financial, healthcare and senior care service providers in Mainland China.Ping Anwas nominated for the HKIoD awards for its diversified board of directors, dedicated to safeguarding the interests of the Company and all shareholders and promoting the Company's long-term, stable development.

Mr.Ng Sing Yip, Independent Non-executive Director, accepted the awards on behalf ofPing An'sboard. He said,"Ping An'ssuccess as a world-leading integrated financial, healthcare and senior care service provider is closely linked to its high standards of corporate governance and the trust of our stakeholders."The awards were also attended by Ms.Cai Fangfang, Executive Director and Senior Vice President, Ms.Cai Xun, Non-executive Director, Mr.Ng Kong Ping Albert, Independent Non-executive Director, Mr.Liew Fui Kiang, Independent Supervisor, and Mr.Hung Ka Hai Clement, Independent Supervisor, as representatives of the board and the Supervisory Committee.

Ping An'sBoard of Directors will continue to lead the Company's strategic planning, and participate in risk management, financial control, compliance, and internal control. The board will continue to enhance corporate governance and climate risk management capabilities, and grow value for stakeholders.

Ping Anhas long pursued a balanced and professional board structure.Ping An's15 directors possess professional expertise in insurance, banking, investment, accounting, law, management, and technology, with extensive industry and operational experience.Ping Anhas six independent non-executive directors, who account for 40% of the Board, exceeding the industry average. In 2023, the board completed 26 training sessions covering corporate governance, environmental and climate impact, and sustainable development. Since the Company's listing, the board has conducted on-site inspections and reviews at grassroots level for 20 years, collecting opinions and suggestions from frontline employees and urging business units to continuously improve operational management.

Ping An'sBoard of Directors focuses on providing foresight and guidance of the Company's strategy for efficient implementation and high-quality business development.Under the leadership of the board,Ping Anis promoting its"integrated finance + healthcare and senior care"strategy driven by technology. In the first three quarters of 2024, the Group's operating profit attributable to shareholders of the parent company reachedRMB113.82 billion, representing a year-on-year increase of 5.5%, and revenue reachedRMB775.38 billion, a year-on-year increase of 10.0%. Three core businesses – life and health insurance, property and casualty insurance and banking – maintained growth, with their combined operating profit attributable to shareholders of the parent company reachingRMB119.65 billion, a year-on-year increase of 5.7%.

Ping Ancontinues to strengthen integrated finance, shifting from cross-selling to comprehensive customer management. As ofSeptember 30, 2024, the Group had 240 million retail customers, a year-to-date increase of 3.8%. Customer retention continued to improve, with 25.1% of customers holding four or more contracts within the Group, and a retention rate of 98.0%. The healthcare and senior care strategy continued to yield results, with the value ofPing An'sdifferential advantages becoming more apparent. In the first three quarters of 2024, more than 19.5 millionPing An Lifeinsurance customers used services in the healthcare and senior care ecosystem.Ping An'sinnovative integrated"medical care, nursing, housing, and entertainment"model has established industry standards and ecosystems for senior care services. The services cover 75 cities acrossChina, with more than 150,000 customers entitled to home-based senior care services.

Ping An'sBoard of Directors oversees environmental, social and corporate governance (ESG) matters.It has built an efficient and collaborative long-term ESG governance mechanism, and promotes core practices such as climate governance and rural revitalization.Ping Anpledges to achieve carbon neutrality across its operations by 2030, and has formulated short- and medium-term targets and roadmaps. In 2023,Ping Antook the lead in launchingChina'sinsurance industry's first carbon account system covering all employees, recording each employee's low-carbon office behavior, daily low-carbon behavior, and carbon emission data to support climate governance.Ping Analso promotes green finance. In the first three quarters of 2024,Ping An'sgreen insurance premium income reachedRMB37.34 billion.

Thanks to its outstanding performance in sustainable development,Ping Anhas received the highest ratings in multiple industry evaluations.Ping Anhas maintained an A rating in MSCI ESG Ratings for two consecutive years, ranking first in the multi-line insurance and brokerage industry in theAsia-Pacificregion. It has been in S&P's Sustainability Yearbook (China Edition) for two consecutive years, the only insurance company from Mainland China on the list.Ping Analso has a"low risk"rating with a score of 17.0 in Morningstar Sustainalytics ESG Ratings and a B rating in CDP (Carbon Disclosure Project) Ratings, the highest ratings inChina'sfinancial industry.

The HKIoD isHong Kong'spremier organization representing professional directors, with more than 2,000 members from senior management ofHong Kong-based companies and listed companies worldwide. Its Director of the Year Awards evaluate companies'performance in promoting development strategies, business strategies, and digital transformation at the board level. The Climate Governance Award, a newly launched award series in 2024, evaluates the performance of corporate boards in promoting sustainable development, climate governance and related information disclosure. The 2024 awards were co-organized by the Financial Services and the Treasury Bureau, the Securities and Futures Commission, and Hong Kong Exchanges and Clearing Limited.

Ping Anwill continue to adhere to responsible, high-standard corporate governance. Under the scientific and forward-looking guidance of the Board of Directors,Ping Anwill continue to deepen the"integrated finance + healthcare and senior care"strategy driven by technology, consolidate the advantages of integrated finance, promote its healthcare and senior care initiatives, advance digital transformation and pursue high-quality development. It is committed to creating greater value through stable growth for customers, employees, shareholders, and society.

About Ping An Group

Ping An Insurance (Group) Company ofChina, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services, Under the technology-driven"integrated finance + health and senior care"strategy, the Group provides professional"financial advisory, family doctor, and senior care concierge"services to its 240 million retail customers.Ping Anadvances intelligent digital transformation and employs technologies to improve financial businesses'quality and efficiency and enhance risk management. The Group is listed on the stock exchanges inHong KongandShanghai. As of the end of September 2024,Ping Anhad more thanRMB12 trillionin total assets. The Group ranked 29^thin the Forbes Global 2000 list in 2024 and 53^rdin the Fortune Global 500 list in 2024. 

For more information, please visitwww.group.pingan.com and follow us on LinkedIn -PING AN.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ping-an-wins-sixth-director-of-the-year-award-and-inaugural-climate-governance-award-from-the-hong-kong-institute-of-directors-302318514.html

SOURCE Ping An Insurance (Group) Company ofChina, Ltd.