Ping An Insurance (Group) Company of China, Ltd. has announced its 2024 Sustainability Report, highlighting the company’s efforts to reduce its carbon footprint and its strong business performance over the past year.
The insurer achieved an 8% reduction in its total greenhouse gas emissions, amounting to 439,291 tons of CO2 equivalent. Significant reductions were made in both Scope 1 and Scope 2 emissions, with Scope 1 emissions down by 22%, and Scope 2 emissions falling by 8%. In addition, Ping An invested in sustainability by purchasing 11,612 MWh of green electricity and implementing over 2.26 million carbon reduction actions through its employee carbon account platform.
In terms of business performance, Ping An continued its focus on expanding its integrated finance and healthcare services. The company reported a robust customer base, with 242 million retail customers at the end of 2024. On average, customers held 2.92 contracts each, and over 25% of them maintained four or more contracts. Nearly 63% of customers were eligible for services within Ping An’s health and senior care ecosystem.
The company also saw growth in its health services, with more than 21 million Ping An Life customers using health management services. In addition, home-based senior care services were available in 75 cities, serving over 160,000 customers.
Financially, Ping An performed strongly in 2024. The company reported operating profit attributable to shareholders of $17.06 billion (RMB121.86 billion), reflecting a 9.1% year-on-year increase. Net profit surged by 47.8% to $17.72 billion (RMB126.61 billion), and total revenue grew by 10.6% to $159.60 billion (RMB1.14 trillion).
Innovation in fintech and healthtech remained a key focus, with Ping An filing 55,080 patent applications. The company also leveraged AI in its operations, with AI service representatives handling 1.8 billion customer interactions, making up 80% of the total customer service volume. In healthcare, Ping An’s AI-assisted diagnosis system achieved impressive results, covering over 2,000 diseases with triage accuracy exceeding 99% and diagnosis accuracy above 95%.
Ping An further expanded its services for micro and small businesses, issuing loans totaling $22.43 billion (RMB160.22 billion) and reaching a loan balance of $70.89 billion (RMB506.33 billion). Additionally, the company provided over 260,000 cards and services to nearly 2.4 million enterprises, with claims amounting to $0.56 billion (RMB4 billion).
As it moves forward, Ping An remains committed to both strengthening its business operations and pursuing sustainability goals.
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