Ping An Insurance of China: Named winner of the Hong Kong Corporate Governance and ESG Excellence Awards 2021

(Hong Kong, Shanghai, December 13, 2021) Ping An Insurance (Group) Company of China, Ltd. (hereinafter “Ping An” or the “Group”, HKEX: 02318; SSE: 601318) announced that the Group has won the Hong Kong Corporate Governance Excellence Award 2021 in the category Principal Board companies – Constituent companies of the Hang Seng index. This is the sixth time that Ping An has been awarded this prestigious award.

The Hong Kong Corporate Governance and ESG Excellence Awards 2021 are co-organized by the Hong Kong Chamber of Listed Companies and the Center for Corporate Governance and Financial Policy at Hong Kong Baptist University.

The judge commented, “As a previous winner of the award, Ping An continues to demonstrate strong leadership within the board of directors which includes skilled professionals who guide the group to become an integrated financial services powerhouse with a good lever on the technology that it is today. The absence of a controlling shareholder frees the Group from the undue influence of a single interested party, and there is strict compliance with laws and regulations regarding related transactions and corporate governance. Group, and the development of a robust risk management framework based on big data mining and AI to monitor risks. the focus and conciseness of the business to generate strong returns for shareholders. ”

As China’s leading stock insurance company and dual A + H listed company, Ping An has adopted global best practices in governance. It guarantees the stable functioning of the Group thanks to a series of innovative governance measures and appropriate disclosure. Ping An has developed a disclosure management system that categorizes the various major events for level-by-level approval, creating a transparent, efficient and organized process. For three consecutive years, the Group has been rated A level, the highest rating, by the Shanghai Stock Exchange for information disclosure.

Ping An values ​​returns for shareholders and the need to protect investors. From 2019 to 2021, Ping An approved A share repurchase programs. Two programs have repurchased a total of more than 130 million shares to date, at a cost of nearly 10 billion RMB. Ping An also continues to improve the level of cash dividends. Due to good performance and adequate solvency, an interim dividend of RMB 0.88 per share was paid in 2021, an increase of 10% year-on-year.

In terms of risk management, Ping An has established a distinctive “251” risk management framework to prevent and resolve major financial risks. More precisely, “2” refers to the dual-matrix risk management and control system for the group and the subsidiaries; “5” refers to information security risk, asset quality risk, liquidity risk, operational compliance risk and brand reputation risk; “1” refers to a collaborative risk management and control platform of unified standards and requirements for the entire group in terms of the overall risk governance structure, management system and management systems. information. As part of Ping An’s strategic plan which covers finance + technology, the Group has fully integrated digital technology into its financial risk management and continuously promotes intelligent risk management and control.

Driven by its sustainable development strategy, Ping An has integrated basic ESG philosophies and standards into its corporate governance and management framework. It has built a scientific and professional sustainability management framework to guide its business practices. The Board of Directors oversees all ESG matters in order to ensure stable and long-term development of the company as well as greater sustainable value for shareholders, investors and other stakeholders. The Group announced its Green Finance + initiative to support the sustainable development of communities. Ping An’s green investments and green credit totaled RMB 208,886 million and RMB 53,278 million respectively as of September 30, 2021. Ping An’s premiums for green insurance amounted to RMB 25,109 million over the past year. first nine months of 2021. In October 2021, Ping An announced its intention to achieve operational carbon neutrality in 2030.

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