Ping An Insurance of China : ANNOUNCEMENT OF UNAUDITED RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

The Board of Directors (the "Board of Directors") of Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Company") announces the unaudited results (the "Third Quarterly Results") of the Company and its subsidiaries (the "Group") for the nine months ended September 30, 2016 (the "Reporting Period"). The Board of Directors and its Audit and Risk Management Committee have reviewed the Third Quarterly Results.

1. KEY FINANCIAL INFORMATION

   During the Reporting Period, the key financial data prepared under International Financial Reporting Standards ("IFRS") are as follows:

   (in RMB million)	September 30, 2016	December 31, 2015
   Total assets	5,296,564	4,765,159
   Total liabilities	4,815,950	4,351,588
   Total equity	480,614	413,571
   Equity attributable to shareholders of the parent company	379,378	334,248

   For the three months ended September 30 For the nine months ended September 30 (in RMB million) 2016 2015 2016 2015

   Total income	184,696	151,810	592,524	528,109
   Net profit	18,505	16,494	64,813	56,405
   Net profit attributable to shareholders
   of the parent company	15,732	13,627	56,508	48,276
   Basic earnings per share (in RMB)	0.88	0.75	3.17	2.64

2. TOTAL NUMBER OF SHAREHOLDERS AND SHAREHOLDINGS OF TOP TEN SHAREHOLDERS AS AT THE END OF THE REPORTING PERIOD

   As at September 30, 2016, the total share capital of the Company was 18,280,241,410 shares, of which 10,832,664,498 were A shares and 7,447,576,912 were H shares.

   Total number of shareholders as at the end of the Reporting Period		Total number of shareholders was 274,601, of which 269,840 were holders of A shares and 4,761 were holders of H shares.
   Shareholdings of top ten shareholders
   Name of shareholder	Nature of shareholder	Share- holding percentage (%)	Total number of shares held (Shares)	Type of shares	Number of selling- restricted shares held (Shares)	Number of pledged or frozen shares (Shares)
   Hong Kong Securities Clearing Company Nominees Limited(1)	Overseas legal person	32.09	5,866,585,622	H Share	-	unknown
   Shenzhen Investment Holdings Co., Ltd.	State	5.27	962,719,102	A Share	-	380,060,000 pledged shares
   All Gain Trading Limited	Overseas legal person	4.32	789,001,992	H Share	-	789,001,992 pledged shares
   China Securities Finance Corporation Limited	State-owned legal person	4.05	740,236,434	A Share	-	-
   Huaxia Life Insurance Co., Ltd. - Universal Insurance Products	Others	4.00	731,125,021	A Share	-	-
   Bloom Fortune Group Limited	Overseas legal person	2.77	505,772,634	H Share	-	505,772,634 pledged shares
   Central Huijin Asset Management Ltd.	State	2.65	483,801,600	A Share	-	-
   Business Fortune Holdings Limited	Overseas legal person	1.43	261,581,728	H Share	-	169,463,933 pledged shares
   Shum Yip Group Limited	State-owned legal person	1.41	257,728,008	A Share	-	-
   Hong Kong Securities Clearing Company Limited(2)	Overseas legal person	1.32	240,633,492	A Share	-	-

   Note: (1) Shares held by Hong Kong Securities Clearing Company Nominees Limited ("HKSCC Nominees Limited") are held on behalf of its clients. The shares owned by All Gain Trading Limited, Bloom Fortune Group Limited and Business Fortune Holdings Limited have been registered under the name of HKSCC Nominees Limited. In order to avoid double counting, the shares owned by these three companies have been deducted from the shares held by HKSCC Nominees Limited.

   (2) Hong Kong Securities Clearing Company Limited acts as nominee holder for Hong Kong and international investors to hold SSE A shares under the Shanghai-Hong Kong Stock Connect Program.

   Explanation of the connected relationship or acting-in-concert relationship of the above shareholders

   All Gain Trading Limited, Bloom Fortune Group Limited and Business Fortune Holdings Limited are indirect wholly-owned subsidiaries of Charoen Pokphand Group Company Limited, they are of acting-in-concert relationship since they are under common control.

   Save as the above, the Company is not aware of any connected relationship or acting-in- concert relationship among the above-mentioned shareholders.

3. BUSINESS REVIEW FOR THE REPORTING PERIOD

In the third quarter of 2016, the overall economic situation in China was stable, showing an improvement yet still with some downside pressure. The government promoted transformation and upgrading of the economic structure, with reforms and opening-up being further pushed through. Given the uncertainty of macroeconomic trends, Ping An adhered to the established operating concept, continued to follow the strategy of "Integrated Finance + Internet" and "Internet + Integrated Finance", and kept improving the user and customer value to work towards the goal of being a "World-leading Personal Financial Services Provider". Through efforts in the first three quarters, the scale of Group's individual customers increased steadily. The conversion between users and customers turned out to be successful. The core finance businesses such as insurance, banking and asset management maintained steady and healthy growth, and the internet finance business maintained rapid growth.

In the first three quarters of 2016, the Company delivered an impressive performance in the following areas:

As at September 30, 2016, Ping An had an overall individual customer base of 125 million, up by 26.82 million in the first three quarters, among which, the number of online customers reached 76.20 million, accounting for 61.0% of total individual customers. In the first three quarters of 2016, the Group's internet business continued to develop. As at September 30, 2016, the number of our internet users was about 337 million, including 229 million annual active users, and the user base of the mobile internet service business reached 222 million. In the first three quarters of 2016, 8.23 million new customers were converted from internet users, accounting for 30.7% of total new customers. At the same time, 13.39 million customers of core finance companies became online customers through registration of accounts of internet service platforms, accounting for 14.0% of total new internet users in the first three quarters of 2016.

In the first three quarters of 2016, written premiums of life insurance business reached RMB295,552 million, an increase of 26.2% over the same period last year, of which, written premiums of individual life business were RMB280,765 million, an increase of 26.6% over the same period last year. Value of new business of life insurance arrived at RMB35,348 million, increasing by 48.1% as compared with the same period last year.

Ping An Life placed customer-focused operations at the core of its business, promoting the synergistic development of multiple channels, striving to achieve the sustainable, healthy and stable growth of the business's embedded value and scale. In the first three quarters of 2016, written premiums of Ping An Life reached RMB282,153 million, an increase of 26.6% as compared with the same period last year. Ping An Life realized a net profit of RMB22,983 million, an increase of 18.7% over the same period last year. The agent channel business realized sound growth, and written premiums of new business reached RMB82,831 million, an increase of 39.5% over the same period last year; the productivity of the agents improved steadily, and the first-year written premiums per agent per month increased by 7.7% over the same period last year. The structure of the bancassurance business kept improving, with regular written premiums of new business growing by 116.5% over the same period last year to RMB2,559 million. The telemarketing business increased by 30.6% as compared with the same period last year to record written premiums of RMB12,335 million in the first three quarters, maintaining its leadership in market share. The internet marketing developed its differentiated advantages with a focus on O2O product operating model, and expanded its product offerings. Its written premiums reached RMB3,588 million in the first three quarters.

Ping An Annuity strives to become the leading pension asset management company and leading social benefits services provider in China. In the first three quarters, short-term insurance and long-term insurance business scale reached RMB12,817 million and RMB5,304 million respectively, with market shares maintaining the leading position in the industry. As at September 30, 2016, the assets under management of Ping An Annuity amounted to RMB417,734 million in total, of which corporate annuity entrusted assets, corporate annuity assets under investment management and other entrusted management business assets were RMB150,402 million, RMB145,069 million and RMB122,263 million, respectively, reinforcing Ping An Annuity's leading position among professional annuity companies in China.

Ping An Property & Casualty has always adhered to an intrinsic growth-focused, intensive development path, kept improving service standards and customer experience, and achieved a balanced development of size and quality. In the first three quarters, Ping An Property & Casualty's net profit arrived at RMB10,507 million, down by 6.0% over the same period last year, with the combined ratio of 94.9%. The premium income of Ping An Property & Casualty was RMB127,427 million, up by 4.8% over the same period last year. Of which, RMB105,409 million was contributed by automobile insurance, up by 11.9% over the same period last year. Premium income from cross-selling, telemarketing and internet marketing reached RMB58,850 million, up by 8.9% over the same period last year. Premium income from car dealers reached RMB28,747 million, up by 18.9% over the same period last year.