AM Best has reaffirmed a stable outlook for Ping An Property & Casualty Insurance Company of China, Ltd (Ping An P&C), highlighting the company’s strong financial position and steady performance.
The rating agency said Ping An P&C remains well-positioned at its current rating level, supported by a very strong balance sheet, solid operating performance, a favorable business profile, and effective risk management practices.
Ping An P&C has made progress by expanding into non-motor insurance and writing more policies for new-energy vehicles. Despite these changes, the company has kept its underwriting margins stable, thanks to its operating model and pricing strategies.
By the end of 2024, Ping An P&C’s capital and surplus rose by 9.0% year-over-year to $18.7 billion, further reinforcing its strong financial foundation.
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