中国平安保险（集团）有限公司董事长兼首席执行官马明哲（Peter Ma Mingzhe）每晚只睡三四个小时，他把醒着的时间集中在拓展庞大的业务上financial supermarket他是天生的-而且是保持完整的。
Ping An, which means “peace and safety,” is already China’s second-biggest life insurer, a platform that founder Ma is using to aggressively expand the firm’s offerings beyond insurance. He’s forging ahead despite some investors’ concern that branching out in so many different directions may become unwieldy and create operational risks.
“Not only must we be the insurance expert for every one of our customers, we must be their expert financial consultant and their assistant in every aspect of their lives,” Ma tells亚博赞助欧冠during an interview over lunch in Hong Kong. “The biggest advantage of Ping An’s business model is our wider range of expertise.”
在平安成立近30年后，马云正雄心勃勃地拓宽自己的金融产品超市，就像美国金融家桑迪•威尔（Sandy Weill）1998年至2003年担任花旗集团首席执行官时所做的那样。威尔执掌花旗集团时，该行与旅行者集团（Travelers Group）合并，后者是他在交易完成前领导的保险业巨头，创立了当时全球最大的金融服务公司。花旗在2008年至2009年金融危机期间被视为“大到不能倒”之后，得到了美国政府的救助，为了重新站稳脚跟，它最终拆除了威尔拼凑起来的资产。
到目前为止，中国的MA是succeedingin his financial supermarket approach, carefully monitoring and adapting Ping An’s expertise to changing markets, technology, and client needs.
Ma founded Ping An in 1988 in Shenzhen, the financial hub of southern China, which lies just north of Hong Kong’s border with the mainland. Over the past five years, the company has climbed onto the list of the world’s ten largest insurers, now ranking No. 4 behind France’s AXA, Germany’s Allianz, and U.S.-based MetLife in terms of assets, according torelbanks.com.. ThoughPing An’s insurance assets rose 17 percent in 2016, to $802 billion, the company’s double-digit profit growth is benefiting in part from a diverse group of revenue streams, including banking, securities, asset management, wealth management, private equity, and, more recently, China’s booming arena of Internet finance.
Paul Schulte, chief executive officer of Hong Kong–based Schulte Research, is a fan of Ma’s plan to build out Ping An.
“Sandy Weill’s approach failed because it was a bunch of disconnected entities that were ostensibly under one roof,” saysSchulte他专长于中国金融业，拥有27年的分析师经验。在成为雷曼兄弟控股公司（Lehman Brothers Holdings）和野村证券（Nomura Securities Co.）的亚洲策略师之前，他曾是里根政府的国家安全委员会官员。
“平安实际上是一个平台,接收哒ta on the same people in multiple forms and therefore is capable of allowing people to use the social network to cross-buy,” Schulte explains. “It allows Ping An to use multiple data points to differentiate the good guys from the bad guys.”
The financial services firm showed its strength in its landmark 2016 results.
平安股价上涨11.7%revenue growth，总收入达到774亿元（1120亿美元）的历史新高，利润增长15％;净收入上升至620亿元。大约56％的小组利润来自保险，超过了十年前的80％以上。其余部分来自银行业务（20.6％），资产管理（15.5％）和互联网金融（8.3％）。
尽管财务业绩令人印象深刻，some observers are not convinced that Ma’s supermarket-style expansion will pay off over the long term. Victoria Mio, the chief investment officer overseeing China for Robeco, a Dutch asset manager owned by Japan’s ORIX Corp., notes there are dangers when Chinese insurers branch into other financial services to seek higher growth.
“The key concern for investors is that the financial statements of insurance companies, which have never been easy to understand, will become even more opaque and complex, not so easy to comprehend,” Mio says. She adds that risks include potential regulatory changes imposing firewalls among the different asset classes, as well as liquidity risks brought on by certain financial products.
62岁的马云并不总是喜欢成功。他的成就得益于过去十年精心调整的举措，这些举措将公司的重心重新放在了核心实力上：中国国内市场。这一调整是在近10年前，该集团对外国市场进行了灾难性的进军，为此付出了巨额资金之后进行的。2008年，中国平安开始了一场全球收购热潮，当时一家公司acquired总部位于布鲁塞尔的金融集团富通银行（Fortis）5%的股权崩溃。富通银行不得不接受救助，并被比利时、荷兰和卢森堡政府分拆。比荷卢联盟最终将富通的部分股权出售给了包括法国巴黎银行（BNP Paribas）在内的多家买家，平安也别无选择，只能回到中国舔伤口，最终注销了23亿美元。
“Being burned by Fortis — that was quite unexpected and significant,” Jessica Tan, Ping An’s chief operating officer, tellsII在公司的丰富的上海办事处，在一个由一个类似于古罗马建筑的花岗岩柱牵引的40层楼。“但我们从中学到了，”她补充道。
Since 2008, Ping An has bounced back with ferocity thanks to acquisitions and organic growth focused on its home markets. The firm aggressively diversified beyond life and property/casualty insurance with three acquisitions that created Ping An Bank, now China’s 12th largest by assets.Ping An also ramped up investments in securities, asset and wealth management, real estate, venture capital, and private equity, and more recently entered Internet finance.
该公司最受吹捧的技术成就之一是2011年成立的点对点贷款机构上海陆家嘴国际金融资产有限公司（Shanghai Lujiazui International Financial Asset）Exchange Co. Lufax作为公司所知，已成为中国金融金融的电子商务，是世界第二大经济体。它是该国最大的财富管理产品市场产品：去年超过740万个人和企业投资者使用Lufax购买价值6万亿元的投资产品，从乒乓球和成千上万的中国金融机构购买了价值。
Lufax, a venture capital–backed company that already has achieved a market valuation of $19 billion, is preparing for an initial public offering later this year or next year. The online lender is well known for using the latest encryption technology, including blockchain.
总部位于香港的麦克马斯特商业可持续发展研究所（mcmasterinstitute for Sustainable Development in Commerce）创始人、区块链技术在中国应用专家菲利普•麦克马斯特（Philip McMaster）表示：“平安一直是区块链领域的先行者和创新者。“或许IPO将给区块链带来更大的可信度和知名度，并加剧全球对解决方案的竞争。”
At the core of Ping An’s success is the application of technology across all its business units, according to COO Tan, who helped set up the firm’s tech strategy. She studied electrical engineering, computer science, and economics at the Massachusetts Institute of Technology before joining McKinsey & Co. She worked at the consulting firm until she took a position with Ping An in 2013.
谭平安描述为“一个品牌有许多刺激ucts and services targeting one mass-market base of clients” through the use of technology. The financial services group has 131 million insurance customers, who purchased an average of 2.2 products each from the company last year. The offerings include insurance — such as life, health, p/c, auto, and accident — and funds, bonds, certificates of deposits, and other types of investments. Customers can buy the products from Ping An Bank, Ping An Securities, Ping An Asset Management, or Ping An Trust.
The group uses both online and offlineapproaches to reach customers. Offline the company has 300,000 employees and 1.1 million sales agents, independent contractors who work exclusively for Ping An. These agents solely recommend Ping An insurance and investment products, and also may offer real estate, such as high-end condominiums, developed by the group across China.
Online, Ping An reaches out via a database of more than 340 million registered users, including tens of thousands of high-net-worth individuals and many of China’s middle-class consumers. The firm connects with customers via Lufax, as well as through平安普惠, which caters to lower-middle-class consumers who might not be eligible for bank credit cards. Puhui has a fast-growing database of active customers that now stands at 3.8 million. They’ve borrrowed 272 billion yuan from the business.
另一个主要成功是ping an的O2O., an online health care service that employs more than 1,000 doctors offering initial medical consulting and referrals to thousands of clinics accredited by Ping An. So far, more than 130 million Chinese have signed up for the service, known as Good Doctor.
Keeping track of Ping An’s sprawling businesses and assets in a safe way requires multiple tech centers, including a highly secure bunker in Shanghai that’s designed to withstand disaster. All of the firm’s businesses tap into back-end servers, located primarily in Shanghai, which is China’s financial hub, and Shenzhen, in the country’s southeast.
最大的后台操作是中国平安张江后台中心，它坐落在一个占地32英亩、绿树成荫的校园里，周围是上海浦东金融区郊区的一个小湖。它的员工有14000人，其中约8000人在工厂庞大的电话营销和在线营销大厅，员工在那里24-7小时回答客户的询问。
The facility is the pride and joy of Tan, 40, who nine years ago, while still at McKinsey, helped the firm design and build the entire complex. Ma was so impressed with Tan’s work that he recruited her to join Ping An.
The basement of Building One of the Zhangjiang center houses the digital heart of much of the company’s operations, including the emergency response center, a highly secured, glass-encased area where dozens of senior executives gather when there’s a need for crisis management. The bunker, which is built with reinforced concrete that can withstand bombs, terrorist attacks, and even high-magnitude earthquakes, contains backup servers for Ping An, with rows of computers and large video monitors for live streaming.
It’s where executives gathered for decision making during the last major seismic event to hit China, the Wenchuan earthquake, which shook much of Sichuan province on May 12, 2008, killing 69,000 people and causing $145 billion in damages. During that crisis staff worked in shifts around the clock for days to process emergency claims.
Ma, an avid reader of both中西经典，从平安开始就注入了公元前6世纪哲学家孔子的价值观。他还接受了西方的商业模式，当时中国正处于走向市场经济的早期阶段。
In the mid-1980s, Ma worked as a young assistant manager at China Merchants Group’s social security office in Shenzhen’s Shekou district. He persuaded senior executive Yuan Geng, who later retired as group vice chairman, to allow him to explore the possibility of helping the state-owned trading house set up an insurance unit. With Yuan’s help, Ma steered China Merchants’ entry into the insurance business, establishing Ping An, China’s first life insurer modeled after the West, in 1988.
Ma recruited insurance industry executives from Taiwan and Hong Kong, bringing them to Shekou, then a burgeoning port district of Shenzhen, to help him set up an insurance company modeled on those in the West. Until the late 1980s, China was a centrally planned economy without a life insurance industry. Ma started from scratch, cobbling together an insurance sales philosophy based on individual and family values —a philosophy that reflected the Confucian classics.
在他的书中，Ping’an Xin Yu, or “Ping An’s Language of the Heart,” Ma presents a collection of essays about the firm’s history, written by him and his team. They recount how they created modern insurance sales and management strategies tailor-made for China. The book references Confucius as the individual who embodies the best of traditional Chinese philosophers and Albert Einstein as the best in Western scientific philosophy.
这位首席执行官是这两位思想家的粉丝，他将他们的铜像雕刻并摆放在公司位于深圳的培训中心平安大学的大厅里。平安上海公司品牌部副总经理亚历克斯•肖（alexxiao）表示：“他相信将东西方的精华结合起来。”。
Despite being burned by his foray into Western markets, Ma never lost respect for their top financial institutions. In the past decade he has opened up the shareholder structure of Ping An, which is上市on both the Hong Kong and Shenzhen stock exchanges. He’s invited a wide range of entities and individuals to invest in his company, including HSBC Holdings, Morgan Stanley, and Goldman Sachs Group, as well as many foreign and Chinese high-net-worth families. Ping An’s shares have soared, rising about 44 percent in the 12 months through May 22, when they closed at 48.20 yuan.
虽然一些外国投资者对Ping A的多样化战略保持持怀疑态度，但鉴于花旗集团的金融超市并没有在美国金融大组，Charles Zhou涵盖中国的金融部门的信用股票分析师，而涵盖中国的金融部门，则指出乐观的原因。
“On the ground in China, it is working well,” says Zhou, noting that Ping An is meeting the financial needs of customers who want more than just insurance. The company’s diverse portfolio of products “increases the value a Ping An sales agent has for a client,” he says. “It also increases the client’s stickiness for Ping An.”
Joyce Huang, a director in Fitch Ratings’ Asia-Pacific insurance group, says she’s taking a wait-and-see stance with Ping An. Though Fitch doesn’t rate the firm, Huang follows its developments as part of the agency’s broader coverage of Chinese insurers.On the plus side, she notes that more than half of the group’s revenues still come from insurance, giving the company “a buffer just in case other businesses go bad.” But the cushion isn’t enough to convince her that Ma’s push beyond insurance isn’t risky.
“是的，他们的多元化可以给他们一个更广泛的范围和收入来源，”黄说。“但是我们可能无法看到的潜在风险，尤其是操作风险。这是我们将继续监控的一个地区。“
Eunice Tan, lead analyst for Greater China insurance ratings at Standard & Poor’s, says a key problem is Ping An Bank, whose nonperforming loan ratio rose to 1.74 percent last December from 1.45 percent a year earlier. “Ping An Bank is unfortunately a drag on its insurance sisters,” Tan says, noting that the bank caters to small businesses and that risk is rising among such companies with China’s slowing growth.
平安首席投资官蒂莫西•陈says the firm is well aware of the operational risks of diversifying and constantly keeps a wary eye on potential problems from a holistic point of view, monitoring all its business units and asset classes. Chan says top executives focus on five areas: information security, asset quality, liquidity, operations, and brand reputation. Ping An also imposes “firewalls” to separate business units, Chan adds, so if a crisis breaks out in one, it does not spread to another.
Moreover, Ping An regularly calibrates its liabilities to help protect itself from financial shocks, according to Chan. He notes that at the end of 2016 the company had 5.58 trillion yuan in assets and roughly 5.1 trillion yuan in debt and liabilities, leaving the group with 486 billion yuan in net assets, or shareholder equity.
基本原因2008 global crisis was high leverage in the financial system in the West, says Sheng Ruisheng, Ping An’s secretary to the board of directors and head of corporate branding. Not only is Ping An well capitalized, but it has low debt levels, Sheng says, emphasizing that revenue and net profit growth continue to be in the double digits. Furthermore, Sheng says, the firm’s compliance and risk officers in every division work closely with regulators to ensure all products on all Ping An platforms are in full compliance with financial regulations.
Gregory Gibb，基于上海的Lufax的共同主席和首席执行官可以证明盛的断言。吉布说，一位从麦肯锡顾问开始职业生涯的美国人表示，他和他的团队已经花了大量的能源，时间和金钱，创造内部专门知识的客户软件，为客户提供交易和投资风险。以前曾担任Ping An首席创新官员的GIBB表示，风险管理计划使用人工智能，并从客户不断变化的在线概况中提取数据。该软件在实时建议客户对风险的建议，如果被认为超过个人的财务能力或风险容忍水平，则可以自动停止交易。
Lufax’s risk managers examine the risk profile of every investment product before it enters the marketplace, weeding out those that may carry possible fraudulent or systemic risk for the platform as a whole, according to Gibb. “We believe only through stringent risk management, especially by accounting for the risk tolerance of individual investors, can we protect our investors, as well as the future growth of the entire marketplace,” he says.
The hypergrowth of Lufax and Ping An’s other Internet platforms holds the future for the company, says COO Tan, who notes that 30 percent of all new customers arrive online — up from zero in 2012. “We see online platforms deriving 50 percent of new customers by 2019,” she says.
Lufax通过了最新的金融技术创新 - 人工智能和区块链 - 反映了乒乓球的定位和野心。该野心的另一个代表是该公司的闪亮，玻璃包装新集团总部，该中心坪是一个国际金融中心，在深圳景观上涨了118张故事或600米。
这座大楼位于福田金融区，今年早些时候开放。它是中国仅次于上海塔的第二高摩天大楼，也是世界上最高的第四座摩天大楼。这座建筑的建设预算为23亿美元，由一个能抵御8.0级地震的巨型钢结构支撑。这座塔形状像一把剑，像一颗闪闪发光的钻石似的玻璃尖顶，耸立在深圳的天际线上，在邻国香港可以看到，那里的国际商业中心是该地区最高的摩天大楼，全长71米。
Executive suites will occupy selected floors from the 100th floor upward, and it will be from these commanding heights that chairman Ma and his team will marshal their army of insurance agents and financial advisers. There is no question that Ping An has come a long way from 1988, when Ma was its first and only employee, sitting at a small desk in an old building in the China Merchants compound.
Other companies will join Ping An in the new office building.
“平安不会是这里唯一的租客，”该大厦开发商深圳平安金融中心建设发展有限公司（Shenzhen Ping An Financial Center Construction and Development Co.）副总监马凯琳（Kathleen Ma）表示。
她笑着说：“我们计划邀请的不仅是跨国公司，还有一些中国最具创新精神的公司——其中许多是金融业的，许多是具有全球抱负的。”。“正是从这些高度，你可以看到，不仅平安的未来是光明的，整个中国的未来也是光明的。”