Ping An Health Eyeing High-end Medical Insurance
Tuesday, Nov 03,2009, 10:10:25 PM Click:
Instead of selling related products by itself, the health insurance unit of Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318) sells them via professional agencies.
Both Ping An Property & Casualty Insurance Company of China, Ltd. and Ping An Life Insurance Company of China, Ltd., the property insurance unit and life insurance unit of Ping An, have stretched out reach to health insurance, which urges Ping An Health to seek other growth mode. Ordinary health insurance features low threshold and low profitability and most of insurers in the country suffer loss from health insurance because of knowing little of related risk.
Ping An Health forecasts that the population of people that have demand for high-end medical insurance is about 30 million, with premium revenue hitting CNY 2 billion annually.
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