Ping An Net Profit 19 Billion 400 Million Banking Business Contributed 40% &Nbsp; Total Assets Broke 2 Trillion

In March 16th, Ping An held a press conference in Shanghai and Hong Kong. Ren Huichuan, general manager of the group, said in an exclusive interview with the newspaper that the insurance business contributed 2/3 of the profits and 1/3 of the profits from banks and investments. Ping An hopes that after 5-10 years, the insurance, banking and investment businesses will be three parts of the world, and Ping An will adhere to the comprehensive financial strategy.

The three pillars change.

At the March 16th press conference, both chairman Ma Mingzhe and general manager Ren Huichuan expressed satisfaction with the result.

Although the domestic life insurance industry suffered a severe winter in 2011,

"Ping An can still achieve good profit growth in the downturn of capital market, precisely because of the effect of comprehensive finance."

Ren Hui Chuan told this reporter.

He said that although life insurance encountered some difficulties in 2011, it was only temporary.

China's insurance market is huge, and there is still plenty of room for future development.

Ping An will vigorously develop business with less capital consumption, and the business with large capital consumption will not expand vigorously.

In the production and insurance business, Ping An's net profit has increased by 28.8%. This is mainly attributed to Ping An's property insurance, which continues to deepen the sales channel construction, vigorously promotes the development of products closely related to the national economy, and grasped market opportunities.

and

"Ping An has the advantages that other companies do not have, and the banking sector has become a booster for ping an earnings."

China National Insurance Association executive member Guo Guo Zhu believes.

In addition, the net investment income of Ping An investment business in 2011 reached 33 billion 100 million yuan, an increase of 8 billion yuan over 2010, and the total investment yield rose from 4.2% to 4.5%, but the net investment return rate decreased from 4.9% to 4%.

In addition to the three major businesses mentioned above, Ping An Trust, fund and securities businesses are slowly providing profits for them.

Issuing bonds needs to "break through"

As a "wind vane" of institutional investors, China Ping An's asset allocation has attracted much attention from the market. At the same time, it is concerned about its 26 billion yuan convertible bond refinancing plan announced in the fourth quarter of last year.

In December 20th last year, Ping An announced that it would issue a 26 billion convertible bond financing plan, but it could not be officially released until August of this year. According to the analysis of market participants, the possibility of issuing subordinated debt to replenish capital before issuing convertible bonds is not ruled out.

In response to this, Ren Hui Chuan said in an interview that Ping An's refinancing plan is advancing smoothly, and the leadership of the regulatory authorities also supports the plan.

"Issuing bonds to solve the solvency of subsidiaries is a better way. Ping An's solvency is relatively adequate, still higher than 150%. If necessary, Ping An can issue bonds according to the needs of the company and the market.

If the Ping An debt to equity swap program is approved, the group will not need to refinance within 2-3 years, and these capital will be used to support the issuing of debts of each subsidiary. "

Ren Hui Chuan said.

Data show that as of the end of 2011, Ping An Group's solvency adequacy ratio was 166.7%, Ping An Life insurance solvency adequacy ratio of 156.1%, all close to the minimum requirements of the CIRC 150%.

Regarding the capital market in 2012, Ren Hui Chuan expressed optimism that it would be better than before. Ping An will pay more attention to diversified investment, especially for the refinancing scheme of large domestic banks. It will enter as a financial investor. Now Ping An has become a specific investor of the bank. If it is not suitable, it will consider participating in the refinancing of other banks.