LIC world's top insurance brand

 

Even as world's top insurance brands have lost nearly $30 billion in brand value, since the onslaught of Covid-19 Pandemic in 2020, India's state owned life insurance behemoth Life Insurance Corporation (LIC), for the first time, has emerged as the third strongest insurance brand as well as the 10th most valuable insurance brand globally, according to the Brand Finance Insurance 100 2021 ranking, prepared by London based Brand Finance, that tracks the brand value of multinational companies acrss

geographies and sectors.

LIC's brand value at $ 8.6 billion, as 10th most valuable insurance brand, has gone up by 6.8 per cent in helping the company to improve its ranking from 13th to 10th in this segment which is topped by Chinese Ping An, with a brand value of $44,8 billion.

State-owned insurance behemoth — Life Insurance Corporation (LIC) — has emerged as the third strongest and the tenth most valuable insurance brand globally, according to a report by Brand Finance Insurance 100 2021, a London-based brand valuation consultancy firm Brand Finance.  According to the report, the total value of the world’s top 100 most valuable insurance brands declined by 6 per cent from $462.4 billion in 2020 to $433.0 billion in 2021. However, LIC’s brand value increased by almost 7 per cent to $8.65 billion. There are five Chinese insurance companies in the top 10 most valuable insurance brands globally, with Ping An Insurance emerging the world’s most valuable insurance brand, despite recording a 26 per cent drop in brand value.  The US has two companies in the top 10, while France, Germany, and India have one insurance company each in the list. As far as the strongest insurance brands are concerned, Italy’s Poste Italiane leads the pack, followed by Mapfre of the US and LIC of India.