LIC Among Top Ten Most-Valuable Insurance Brand Globally: Brand Finance Report

LIC Among Top Ten Most-Valuable Insurance Brand Globally: Brand Finance Report

• The state-owned insurance behemoth ‘Life Insurance Corporation (LIC)’ has emerged as the third strongest and the tenth most valuable insurance brand globally, in Brand Finance Insurance 100 report for 2021.
• The brand value of LIC increased by almost 7 percent to $8.65 billion in 2021.
• The annual report is released by London-based brand valuation consultancy firm Brand Finance, to identify the most valuable and strongest insurance brands globally.
• Chinese firm ‘Ping An Insurance’ emerged as the world’s most valuable insurance brand, despite recording a 26 percent drop in brand value in 2021 over previous year.
• In the strongest insurance brands category, Italy’s Poste Italiane was at top position, followed by Mapfre of the US and LIC of India.
• However, the total brand value of the world’s top 100 most valuable insurance brands declined by 6 percent from $462.4 billion in 2020 to $433.0 billion in 2021.

Summary:

1. Most Valuable Indian Insurance Brand – LIC (10th)
2. Most Strongest Indian Insurance Brand – LIC (3rd)
3. Most Valuable Global Insurance Brand – Ping An Insurance, China
4. Most Strongest Global Insurance Brand – Poste Italiane, Italy

Source: Business Standard, Brand Finance