Chinese Insurers Dominate Global Insurance Brand 100, Highlighting Robust Growth and Sustainability Efforts

Chinese insurance powerhouses dominate global market in Brand Finance Insurance 100 report for 2024, showcasing robust brand values and strategic growth.

The annual analysis reveals that Ping An leads the pack with a notable increase of 4 in its brand value to US$33.6 billion. China Life Insurance and China Pacific Insurance CPIC follow closely, ranking within the top five with brand valuations of US$17.5 billion and US$15.3 billion respectively.

European insurers also stand out with strong performances:

• Germany's Allianz secures its esteemed position as the second most valuable insurance brand worldwide, a 17 rise in value placing it at US$24.6 billion.

• AXA from France rounds off the top four, up by 4, accumulating to US$16.6 billion.

India’s Life Insurance Corporation LIC emerges as the strongest insurance brand globally, scoring an impressive brand strength index of 88.3 and holding a steady brand value at US$9.8 billion. Cathay Life Insurance and NRMA Insurance also exhibit commable strong brand indices.

NRMA from Australia joins Denmark's Tryg among the fastest climbers in this year’s report, showcasing significant leaps in their brand values.

Alex Hgh, Managing Director of Brand Finance Asia Pacific offers insight into the strategic resilience of Chinese insurance brands:

“Chinese insurance companies are consistently growing in the global market with a focus on innovation and strategy. Simultaneously, European firms such as Allianz and AXA demonstrate adaptability through customer-centric strategies and digital transformations.”

This year’s report also introduces the Sustnability Perceptions Index which evaluates the financial impact of sustnability on brand values.

Allianz tops this category at US$3.7 billion in Sustnability Perceptions Value, reflecting their effective communication and implementation of sustnable practices.

The inclusion of the Sustnability Perceptions Index highlights the growing importance of environmental and social factors in shaping consumer perception and enhancing brand value within the insurance industry.

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