Core Viewpoint - Ping An Insurance has been recognized for its corporate governance and climate initiatives, receiving the Director of the Year Award and the inaugural Climate Governance Award from the Hong Kong Institute of Directors in 2024, marking a significant achievement in its commitment to sustainable development and governance standards [1][11]. Corporate Governance and Awards - Ping An's Board of Directors has received the Director of the Year Award for the sixth time, highlighting its commitment to safeguarding shareholder interests and promoting long-term development [1][3]. - The Climate Governance Award recognizes Ping An as a leader in sustainable corporate practices, reflecting its dedication to climate governance and responsible business operations [1][11]. Board Composition and Training - The board consists of 15 directors with diverse expertise in various fields, including insurance, banking, and technology, with 40% being independent non-executive directors, surpassing the industry average [6]. - In 2023, the board conducted 26 training sessions focused on corporate governance, environmental impact, and sustainable development [6]. Financial Performance - For the first three quarters of 2024, Ping An reported an operating profit of RMB113.82 billion, a year-on-year increase of 5.5%, and revenue of RMB775.38 billion, up 10.0% [7]. - The combined operating profit from its core businesses reached RMB119.65 billion, reflecting a growth of 5.7% year-on-year [7]. Customer Management and Services - As of September 30, 2024, Ping An had 240 million retail customers, with a year-to-date increase of 3.8%, and a customer retention rate of 98.0% [8]. - The company has developed an integrated model for healthcare and senior care services, covering 75 cities in China and providing home-based senior care services to over 150,000 customers [8]. Environmental, Social, and Corporate Governance (ESG) - Ping An has established a robust ESG governance mechanism, focusing on climate governance and rural revitalization, with a commitment to achieving carbon neutrality by 2030 [9]. - The company launched China's first carbon account system for employees in 2023, promoting low-carbon behaviors and tracking carbon emissions [9]. Industry Recognition - Ping An has received high ratings in various industry evaluations, maintaining an A rating in MSCI ESG Ratings and being the only insurance company from Mainland China in S&P's Sustainability Yearbook for two consecutive years [10].
Ping An Wins Sixth Director of the Year Award and Inaugural Climate Governance Award from the Hong Kong Institute of Directors