Ping An Wins International Recognition for Corporate Management

Ping An Wins International Recognition for Corporate Management
Euromoney Ranks Ping An Number 1 in Asia insurance sector
Shenzhen, People s Republic of China, 21 December, 2005 Ping An has been ranked first among Asia insurance companies in the annual ranking for Asia s Best Managed Companies 2005 by London-based Euromoney Magazine. Euromoney also named Ping An Number Three overall in its ranking of China s top performers in corporate management.
Euromoney s Asia s Best Managed Companies 2005 list, published in December, marks its tenth anniversary this year. Based on a survey of analysts from major banks and research organisations, the list employs strict criteria to ensure fairness and objectivity. The ranking plays an important role by encouraging companies in emerging markets to strive for higher standards of corporate governance, including transparency, accountability, and levels of disclosure to shareholders.
We received replies from 67 institutions and nominations for 368 companies for all categories. Respondents were asked to nominate the top three companies in each of the countries or sectors they covered, bearing in mind convincing and coherent strategy, market strength, profitability, growth potential and quality of management and earnings. Said Euromoney.
In rating Ping An on corporate management, Euromoney said that analysts noted the Company s:
* Clear and consistent strategy
* Adherence to international management standards
* Disciplined and consistent operating style
* Sophisticated framework for corporate governance
* Superb performance in a highly competitive market environment
Ping An is the first Chinese insurance company that integrates securities, trusts, banking, asset management and annuity services into a close-knit, efficient and diversified financial holding group. Over the last ten years, Ping An has emerged as a market leader in corporate governance in the Chinese insurance industry. It was the first to employ an international auditor, the first to engage an independent outside actuary, the first to introduce international strategic investors, the first to introduce management talent from abroad, and the first to implement an advanced international management system.
Ping An s corporate slogan is Three Globalisms, which stands for global funding, global wisdom and global systems. Based on this philosophy, Ping An has developed sophisticated mechanisms for corporate governance and internal controls as well as integrated systems for finance, risk management and human resources. It is widely regarded as one of the most professional and international companies in China.
According to Sun Jianyi, Executive Vice President of Ping An Group, Ping An pays close attention to the views of our global shareholders. Under an international management team, we aim to adopt world class standards in management systems, in order to maximize return to our shareholders and better serve our customers. The Euromoney ranking reflects past performance as well as future expectations.
The Euromoney ranking comes at a time when the Chinese insurance industry has liberalized under terms of China s accession to the World Trade Organization. Despite new competitive pressures, Ping An has achieved a strong performance, with revenues growing 47.3 percent in the first half of 2005 compared to the same period in 2004. The year has also seen greater recognition of Ping An s brand domestically and internationally. Ping An was the only Chinese insurance company to be included in the Forbes 2000 list. It ranked Number 10 among Chinese companies in the Forbes list.
About Ping An Insurance (Group) Company of China, Ltd.
Ping An was founded in 1988 and is based in Shenzhen. Growing from a core business of insurance, Ping An has turned itself into a close-knit, efficient and diversified financial holding group that has integrated securities, trust and banking services. Ping An is a listed company on the main board of the Hong Kong Stock Exchange under the name Ping An of China with the stock code 02318 .
In its seventeen year history, Ping An has turned itself into one of the most recognized brands in the PRC and an overseas-listed company with a great international reputation. The Company has developed an extensive customer base in the PRC and is one of the few Chinese financial institutions that has a financial services conglomerate platform.