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Ping An Profit Beats Estimates in Recovery From Pandemic

  • Net income decline smaller than expected on investment gains
  • Operating profit growth slows to 4.9% as revenue dragged down
Views of Beijing Business District as China's New Investment Law Looms Over Thousands of Foreign Firms
Photographer: Giulia Marchi/Bloomberg
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Ping An Insurance (Group) Co. reported profit that beat analyst estimates as China’s largest insurer by market value recovers from the effects of the pandemic and stock market rallies boost investment returns.

Net income for 2020 fell 4% to 143 billion yuan ($22 billion), the company said in a statement Wednesday. That beat the 132 billion yuan average estimate of 23 analysts surveyed by Bloomberg.