LIC has now become tenth-most-valuable insurance brand globally

The total value of the world's top 100 most valuable insurance brands declined 6% in 2021 from a year earlier. But LIC's brand value increased by almost 7%

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.