China Ping An, reverse confirmation!

Ping An of China announced the premium income from January to February. To make it easier for everyone to read, Caitou will start from this issue and make a new table to count the data of Ping An:


Analysis of changes in premium income from January to February 2023: Property insurance increased by 21.35% year-on-year in February, and the cumulative increase from January to February was 5.14%, an increase of 7.29 percentage points. Life insurance increased by 7.14% year-on-year in February, and the cumulative increase from January to February was 5.06%, an increase of 0.63 percentage points. Pension insurance increased by 38.53% year-on-year in February, and fell by 9.6% from January to February, a decrease of 17.23 percentage points. Health insurance increased by 20.22% year-on-year in February, and increased by 15.61% from January to February, an increase of 1.4 percentage points. All types of insurance increased by 12.49% year-on-year in February, and the cumulative increase from January to February was 4.97%, an increase of 2.57 percentage points.

As can be seen from the above data, compared with the ups and downs of the four major subsidiaries in January, all companies achieved year-on-year growth in February. Except for life insurance, which is still in a state of single-digit slow recovery, the rest of the subsidiaries The year-on-year growth rate exceeded 20%.

Nothing to say, it should be certain that Ping An’s performance has reversed ahead of schedule. Small shareholders of Ping An should be happy.

If the growth continues in March, Caitou may revise its previous expectations, and the overall reversal time of Ping An may be earlier than my previous judgment.


The following is what Caitou wrote when Ping An announced the insurance premium for January, without changing a single word, for your reference.

Insurance premium income of Ping An in January 2023:


Compared with the same period in 2022:


In January of this year, the accumulative premium realized was 139.7 billion yuan, which was 136.4 billion yuan in the same period last year, an increase of 2.4%. The key point is that first of all, both life insurance and health insurance have increased year-on-year, especially the life insurance sector, which has a relatively large contribution to long-term performance, an increase of 4.43% over the same period last year. There is a high probability that the recovery speed of life insurance will be better than expected.

Of course, combined with the number of agents in the annual report, we can basically judge the inflection point of Ping An’s performance.

Not bad, buying a car, buying a house and marrying a wife is just around the corner.

$中国平安(SH601318)$ $中国平安(02318)$ $中国平安ADR(PNGAY)$ #中国平安#

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