Ping An Insurance (Group) Co., one of China's major insurance companies, saw mild growth in its net profits in 2012.

The company's net profits increased 3 percent year on year to 20.05 billion yuan ($3.2 billion) in 2012, according to its annual business report filed with the Shanghai Stock Exchange.

By the end of 2012, its total assets jumped 24.5 percent to 2.84 trillion yuan ($457.2 billion) from the same period last year.

Ping An Bank contributed the most to its parent company. Its net profits surged 65.9 percent year on year to 13.23 billion yuan ($2.13 billion) in 2012, with 6.87 billion yuan ($1.1 billion) turned over to the group.