Ping An Reports YoY Growth of 10.0% in Operating Profit Attributable to Shareholders of the Parent Company in Q1 2022 - Seite 3

Ping An Property & Casualty maintained good business quality with steady growth in its written premium. Ping An P&C's premium income increased 10.3% year on year to RMB73,018 million in the first three months of 2022. Premium growth returned to normal as the cyclical impact of the auto insurance pricing reform ended. Overall combined ratio rose 1.6 pps year on year to 96.8% due to rising claims of the guarantee insurance business amid the COVID-19 pandemic. That said, overall business quality remained good and risks under control due to enhanced business management and risk screening. "Ping An Auto Owner," the most popular automotive service app in China, had over 153 million registered users as of March 31, 2022, with over 97 million vehicles linked with the app. Ping An P&C launched contact-free fast tracks for auto insurance claims in pandemic-stricken regions. 91.1% of Ping An P&C's family auto insurance claims were processed via "One-click Claims Services" in the first three months of 2022. Ping An P&C also launched the "Fast, Easy, and Free" claims services to cut the number of documents required for small-amount claims, helping small and micro-businesses enhance their risk resistance capacity against COVID-19.

Ping An Bank maintained stable business growth and asset quality. Revenue grew 10.6% year on year to RMB46,207 million and net profit grew 26.8% year on year to RMB12,850 million in the first three months of 2022. Non-performing loan ratio remained unchanged from the beginning of the year at 1.02 % and provision coverage ratio rose 0.68 pps from the beginning of the year to 289.10% as of March 31, 2022. The average cost of deposits was 2.05%, down 0.01 pps year on year. Ping An Bank further advanced its retail business transformation. The retail assets under management ("AUM") rose 5.6 % from the beginning of the year to RMB3,360,669 million as of March 31, 2022. Retail customers increased 1.6% from the beginning of the year to approximately 120,097,500, among which wealth management customers increased 6.1% from the beginning of 2022 to approximately 1,166,500. The balance of retail deposits increased 9.0% from the beginning of the year to RMB 839,575 million. The balance of retail loans grew 0.2% from the beginning of the year to RMB 1,913,471 million.