On April 27, Ping An Insurance (Group) Company of China, Ltd's A-shares hit the daily limit-up in the afternoon trading session, the first time since August 2015. The stock price then experienced slight fluctuations, but ultimately closed at the daily limit, being 50.37 yuan apiece. The company's H-shares jumped 9.02% to HKD56.2.

On the previous day, the company released its performance for Q1 of 2023. 

During the reporting period, the company achieved operating profit attributable to shareholders of the parent company of RMB 41.385 billion. Net profit attributable to shareholders of the parent company was RMB 38.352 billion, representing a year-on-year increase of 48.9%. The annualized operating ROE was 18.8%.

In terms of comprehensive finance, Ping An Insurance's individual customer base has steadily grown. During the reporting period, the group has increased its individual customer base to nearly 229 million, showing an increase of 0.9% from the beginning of the year; the average number of contracts per customer was 2.98, showing an increase of 0.3% from the beginning of the year.

The value of the life insurance and health insurance business increased by 8.8% year on year to RMB 13.702 billion during the reporting period. 

The property insurance business achieved insurance service income of RMB 76.312 billion during the reporting period, representing a year-on-year increase of 7.1%, and the overall underwriting cost ratio remained at a healthy level of 98.7%.

In terms of its investment portfolio, Ping An Insurance achieved an annualized net investment yield of 3.1% and an annualized total investment yield of 3.3% in the first quarter of 2023. During the reporting period, the investment portfolio of Ping An Insurance exceeded RMB 4.49 trillion, showing an increase of 3.1% from the beginning of the year.