Bottomline is supported by its underwriting results and investment income.
Ping An Health Insurance Company of China, Ltd. (Ping An Health) maintained a strong operating performance and capitalisation in 2025, according to AM Best.
The China-based health insurer maintained solid growth in its consolidated capital and surplus (C&S) over the last three years through partial profit retention, the credit rating agency said in a report on 4 September 2026. C&S increased by 15.9% to $1.7b (RMB11.9b) in 2025.
Ping An Health’s return on equity was over 20% during the same year, with a bottomline supported by its strong underwriting results and robust investment income, AM Best said.
“Amidst a competitive domestic health insurance market and ongoing national medical reform, the company managed to control its underwriting portfolio quality and decrease its operating expense ratio to achieve underwriting profit margins,” AM Best said.
Ping An Health’s balance sheet is very strong, according to AM Best, who said that the insurer has strong operating performance, neutral business profile, and appropriate enterprise risk management.
AM Best also noted Ping An Health’s diversified and overall liquid invested assets, healthy regulatory solvency position and appropriate reinsurance arrangements.
Ping An Health holds a 2% market share in mainland China in terms of direct premium written in domestic health insurance.