LIC leads global insurance brands

New Delhi: Insurance behemoth Life Insurance Corporation of India (LIC) has emerged as the strongest insurance brand globally, according to a report Brand Finance Insurance 100 2024. The report said that LIC’s brand value remains steady at $9.8 billion, accompanied by a brand strength index score of 88.3 and an associated AAA brand strength rating.

Following LIC, the rankings highlight Cathay Life Insurance as the second strongest brand, experiencing a nine per cent increase in brand value to $4.9 billion, closely followed by NRMA Insurance, which saw an 82 per cent rise in brand value to $1.3 billion, according to a statement by Brand Finance Insurance.

Notably, Chinese insurance brands maintain dominance in the global rankings, with Ping An leading with a 4 per cent increase in brand value to $33.6 billion, followed by China Life Insurance and CPIC defending their 3rd and 5th positions, respectively, it said.