Ping An’s 2018 profit beats analysts’ estimates as insurer’s bets on financial technology and health care paid off

//Ping An’s 2018 profit beats analysts’ estimates as insurer’s bets on financial technology and health care paid off

Ping An’s 2018 profit beats analysts’ estimates as insurer’s bets on financial technology and health care paid off

Ping An Insurance Group has reported its sixth year of double-digit percentage growth in earnings as its investments in technology paid off, while policy sales grew at China’s second-biggest insurer. Net profit jumped 20.6 per cent to 107.4 billion yuan (US$16 billion) last year, beating the 97.48 billion yuan consensus in a Bloomberg survey of 11 analysts. Sales rose 11 per cent to 1.08 trillion yuan, missing the analysts’ expectation of 1.143 trillion yuan.The Shenzhen-based company, founded…

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By | 2019-03-12T11:24:50+00:00 March 12th, 2019|Business|Comments Off on Ping An’s 2018 profit beats analysts’ estimates as insurer’s bets on financial technology and health care paid off