The world’s most valuable brands in insurance revealed

Strongest, fastest-growing also named

The world’s most valuable brands in insurance revealed

Insurance News

By Terry Gangcuangco

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

Ping An

China

US$32.25 billion

US$42.93 billion

2

2

Allianz

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

AXA

France

US$15.90 billion

US$17.22 billion

5

5

CPIC

China

US$15.16 billion

US$15.77 billion

6

7

AIA

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

Chubb

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.

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