V View Financial Report | 48.89B yuan, China Ping An's large cash dividend, rising for 14 consecutive years

Ask AI · How can the Insurance + Services strategy help support continued growth in dividends?

China Business News and Weijing, March 28—China Ping An’s 2025 performance has been released.

In 2025, China Ping An achieved operating profit attributable to shareholders of the parent company of 134.42B yuan, up 10.3%; non-GAAP net profit attributable to shareholders of the parent company of 143.77B yuan, up 22.5%.

Of note, shareholders’ equity attributable to shareholders of the parent company surpassed one trillion yuan for the first time, reaching 1,000.419 billion yuan, up 7.7% from the beginning of the year.

At the same time, China Ping An plans to distribute a cash dividend of 1.75 yuan per share for the 2025 final dividend. The total cash dividends for the full year were 48.89B yuan, marking 14 consecutive years of increases.

Life insurance and health insurance businesses maintained a growth trend. New business value reached 36.9B yuan, up 29.3%. Investment of insurance funds achieved a combined investment return rate of 6.3%.

In terms of customer operations, as of the end of 2025, the Group had 251 million personal customers, up 3.5% from the beginning of the year. The retention rate of customers holding three or more product categories within the Group is as high as 99%.

As of the end of 2025, the average number of contracts per Ping An customer was 2.94, up 0.7% from the beginning of the year. The proportion of customers who have been served for 5 years or more was 75.0%, and the average number of contracts per customer is 1.7 times that of customers newly added in the first year.

In core business, in 2025, China Ping An’s new business value for its life and health insurance businesses reached 36.9B yuan, up 29.3% year over year; the new business value rate (based on standard premiums) was 28.5%, up 5.8 percentage points year over year.

The contribution share to new business value for Ping An’s life insurance from bank-insurance channels, community financial services, and other channels increased by 12.1 percentage points year over year. As the “Insurance + Services” layout deepens, in 2025, Ping An’s life insurance used medical and elderly care service customers of 18.3M.

For property and casualty insurance business, in 2025, Ping An Property & Casualty’s gross written premiums from original insurance were 343.17B yuan, up 6.6%; insurance service revenue was 338.91B yuan, up 3.3%. The overall combined ratio was 96.8%, improving by 1.5 percentage points year over year. The auto insurance combined ratio was 95.8%, improving by 2.3 percentage points year over year.

As of the end of 2025, China Ping An’s insurance funds investment portfolio size was 6.49 trillion yuan, up 13.2% from the beginning of the year. In 2025, the insurance funds investment portfolio achieved a combined investment return rate of 6.3%, up 0.5 percentage points year over year.

In 2025, Ping An achieved health insurance premium income of 159 billion yuan. Of this, medical insurance premium income was nearly 73.4 billion yuan, up 2.7%.

China Ping An said that differential empowerment from medical and elderly care enables its main financial business and accelerates its development into the second growth curve.

In 2025, the add-on purchase rate among customers using medical and elderly care services increased by 4 percentage points; the average amount per policy of life insurance new business for medical and health benefit customers increased to 1.5 times; for home-based elderly care benefit customers, the average amount per policy of life insurance new business increased to 5.2 times; and for high-quality elderly care benefit customers, the average amount per policy of life insurance new business increased to 23.4 times. (China Business News and Weijing APP)

**　(The views presented in this article are for reference only and do not constitute investment advice. Investing involves risk; exercise caution when entering the market.)**