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Asia's Most Valuable Companies

Peter Ma, Chairman and CEO Ping An Insurance, speaks at the companies' Annual Results press conference in Hong Kong on March 30, 2011. Tthe total income grew by 28.1 per cent year on year with net profit up by 23.9 percent.

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19. Ping An Insurance (PNGAY)

Market Cap: $70.4 Billion

Ping An Insurance reported a 25 percent increase in full-year profits at the end of March. Over the last year, the shares have gained 25 percent.

Founded in 1988 by current Chairman Peter Ma, Ping An began as a pure property casualty insurer and grew rapidly to become the second-largest insurer in the country, after state-owned China Life. In recent years, however, it’s been restructuring with the aim of becoming a financial conglomerate. In 2010, it bought a stake in Shenzhen Development Bank for $4.3 billion, gaining majority control of the lender.

Photo: Mike Clarke | AFP | Getty Image