Ping An Insurance (02318) released its first quarter performance, with a net profit of 37.907 billion yuan, a year-on-year increase of 2.4%.

Ping An Insurance (02318) released its financial results for the first quarter of 2025. The group achieved operating income of 256.618 billion yuan, a decrease of 7% year-on-year; net profit attributable to the parent company's shareholders was 27.016 billion yuan, a decrease of 26.4% year-on-year; and basic earnings per share were 1.54 yuan. The group's overall operations remained stable. In the first quarter of 2025, the group achieved operating profit attributable to the parent company's shareholders of 37.907 billion yuan, an increase of 2.4% year-on-year; among which, the operating profit attributable to the parent company's shareholders in the life insurance and health insurance business was 26.864 billion yuan, an increase of 5.0% year-on-year. The life insurance and health insurance business continued to develop steadily, with enhanced channel comprehensive strength and the effects of high-quality development becoming evident. In the first quarter of 2025, the new business value of the life insurance and health insurance business reached 12.891 billion yuan, an increase of 34.9% year-on-year, with a new business value ratio of 32.0%, an increase of 10.4 percentage points year-on-year. The multi-channel development had significant effects, with the new business value of the agent channel increasing by 11.5% year-on-year, the new business value of the bancassurance channel increasing by 170.8% year-on-year, and the new business value of the community financial service channel increasing by 171.3% year-on-year.