It’s that time of the year again when brand valuation consultancy Brand Finance lists the world’s most valuable insurance brands, publishing its Insurance 100 report for 2023.
According to Brand Finance’s measure of brand value, below are the 10 most valuable insurance brands globally.
|
2023 rank |
2022 rank |
Brand |
Country |
2023 brand value |
2022 brand value |
|---|---|---|---|---|---|
|
1 |
1 |
China |
US$32.25 billion |
US$42.93 billion |
|
|
2 |
2 |
Germany |
US$21.05 billion |
US$23.14 billion |
|
|
3 |
3 |
China Life Insurance |
China |
US$17.10 billion |
US$22.88 billion |
|
4 |
4 |
France |
US$15.90 billion |
US$17.22 billion |
|
|
5 |
5 |
CPIC |
China |
US$15.16 billion |
US$15.77 billion |
|
6 |
7 |
China (Hong Kong) |
US$15.05 billion |
US$13.02 billion |
|
|
7 |
6 |
GEICO |
United States |
US$14.09 billion |
US$13.07 billion |
|
8 |
8 |
Progressive |
United States |
US$11.84 billion |
US$11.18 billion |
|
9 |
13 |
PICC |
China |
US$11.76 billion |
US$9.63 billion |
|
10 |
11 |
United States |
US$11.62 billion |
US$10.76 billion |
“Ping An is the world’s most valuable insurance brand for the seventh consecutive year, with a brand value of US$32.2 billion,” noted Brand Finance. “The Chinese brand retains this title, despite a 25% year-on-year brand value reduction. Ping An’s brand is now worth half of its value prior to the pandemic.”
Meanwhile, aside from the most valuable, the consultancy named the fastest-growing and strongest insurance brands in the world, as well.
“Athene (brand value up 128% to US$2.6 billion) is the fastest-growing insurance brand,” said Brand Finance. “In January 2022, Athene merged with Apollo Global Management, Inc., now operating as a subsidiary of Apollo. This has aided the brand’s significant growth, in combination with higher pension group annuity premiums compared to the prior year.”
Athene was followed by AIG, whose brand value grew by 64%.
The consultancy also reported: “In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance…
“UnipolSai (brand value down 9% to US$2.8 billion) is the strongest brand in the ranking with a Brand Strength Index score of 86.3 out of 100, earning it an AAA brand rating.”
As for Ping An, Brand Finance said the company also has the highest sustainability perceptions value.
What do you think of Brand Finance’s ranking? Share your thoughts in the comments below.
