Reported by: banking|Updated: May 4, 2021
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, the total value of the world’s top 100 most valuable insurance brands declined by 6% from $462.4 billion in 2020 to $433.0 billion in 2021. However, LIC’s brand value increased by almost 7% 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% drop in brand value. The US has 2 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.