Ping An Ranks 38th in BrandZ Top 100 Global Brands, Tops Global Insurance Brand Rankings for 5th Consecutive Year
HONG KONG and SHANGHAI, July 1, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group", HKEx:2318; SSE:601318) has been ranked 38th in the 2020 BrandZ Top 100 Most Valuable Global Brands, up two places from last year. The rankings were jointly released by WPP, the world's largest communications services group, and Kantar Millward Brown, the world's leading evidence-based insights and consulting company. Ping An also maintained its top position among global insurance brands for the fifth consecutive year. With a 15% growth in brand value to US$33.81 billion, Ping An ranked sixth among all Chinese brands in the list.
The BrandZ Top 100 Most Valuable Global Brands is one of the world's most influential brand valuation reports. The brand valuation ranking combines rigorous analysis of Bloomberg market data with extensive consumer insights from over 3.8 million consumers around the world, covering over 17,500+ different brands in 51 markets.
Doreen Wang, Global Head of BrandZ at Kantar Millward Brown, said, "Chinese brands are the 'calling cards' of China. Ping An has topped its global insurance peers for five consecutive years. Capitalizing on innovation and technology, Ping An constantly redefines its boundaries and become a preferred brand that is relevant to customers' lives. I am proud to see a homegrown Chinese brand become the preferred choice of Chinese citizens."
In 2020, 17 Chinese brands made the BrandZ Top 100 list, with China having the second largest number of brands on the list and the fastest brand value growth. The total brand value of Chinese brands in the ranking increased by 16%, close to three times of the global growth rate. The top 100 global brands have seen their total brand value increase by 5.9%, despite the economic, social and personal impacts of COVID-19. The total brand value of the top 100 global brands reached US$5 trillion, equivalent to the annual GDP of Japan.
In 2019, Ping An clearly defined "finance + technology" as its core business strategy, ensuring steady growth in its main financial businesses while increasing its investment in technology. Ping An aims to "empowering financial services with technologies, empowering ecosystems with technologies, and empowering financial services with ecosystems". In 2019, the Group's revenue amounted to RMB1,168,867 million, up 19.7% year on year, while net profit grew 36.5% year on year to RMB164,365 million. As at the end of 2019, the number of retail customers exceeded 200 million for the first time, with the Group's internet users and app users up to 516 million and 470 million respectively.