In the month of June 2010, Mingzhe Ma, the chairman and CEO of Ping An Insurance (Group) Company of China ("Ping An" or "the Company"), sat down along with Sun Jianyi, the vice chief executive officer and executive vice president at Ping An, to converse about the prospective direction of the Company. They would have to answer questions within China and internationally at the upcoming shareholder meeting about the monetary strategy for diversification of Ping An. Ma had founded ping A in 1988 and had grown into China's second biggest life insurer.
It seemed to enlarge its company going forward, while previous success had been attained by Ping A in insurance. Ping An's ambition was to transform itself into a global financial conglomerate, with banking and investment, too as insurance operations. Ping An's recent efforts at globalization and diversification had been challenging. In a trade that was highly publicized, Ping A made an untimely investment in Fortis, a big European bank which failed in the global financial crisis in 2008. In the wake of the Fortis acquisition, Ping A had stopped international growth and focused on opportunities at home in mainland China.
The Expansion of Ping An, Chinese Version case solution
PUBLICATION DATE: June 07, 2011 PRODUCT #: 314C19-HCB-CHI
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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