The last 12 months have been bad for businesses in all industries. The pandemic has seen countless businesses suffer financially, with many having to cease trading completely. The situation wasn’t helped by business insurance companies failing to pay out on legitimate business interruption insurance claims.
But it seems the pandemic has also taken its toll on some of the world’s biggest insurance brands, which have lost nearly $30 billion in brand value.
What’s the story?
The world’s top 100 most valuable insurance brands have seen 6% shaved off their value as the industry negotiates fallout from COVID-19 pandemic.
But it seems Chinese insurers aren’t feeling the heat as much as those in other countries.
Chinese insurers not in crisis
Ping An retains title of world’s most valuable insurance brand, despite recording a 26% drop in brand value to $44.8 billion.
The decline in brand value is largely attributable to the temporary drop in future earnings and revenue outlook, compared to the previous year.
The brand has, however, already begun to show signs of a strong recovery as parts of the world begin to reemerge from the pandemic, and therefore, if this trend continues, Ping An should see a solid increase in brand value in the coming year.
Ping An has continued to reap the benefits of its Good Doctor app – the world’s leading online healthcare platform – which posted growth in both revenue and user traffic over the last year. The app has proved central to helping combat the repercussions of the pandemic through increasing the speed of diagnoses as well as through providing faster treatment services.
hina Life overtakes Allianz to claim second spot in Brand Finance Insurance 100 2021 ranking. This, despite recording 4% decrease in brand value.
12 Chinese brands in ranking account for 30% of total brand value as brands leverage significant volume premium of Chinese market.
Three further Chinese brands feature in the top ten.
- CPIC (up 10% to US$15.4 billion) in 5th
- AIA (down 22% to US$14.1 billion) in 6th
- PICC (down 20% to US$8.8 billion) in 9th.
Overall, there are 12 Chinese brands featured in the ranking, with their cumulative brand value accounting for 30% of the total brand value. With access to a market as immense as China, this offers these brands huge potential to leverage a significant volume premium over many other markets.
CPIC is once again the fastest growing brand in the top 10, following a 10% brand value increase to US$15.3 billion. The brand has continued to focus on expansion into new markets and has been implementing its plans to onboard high-quality investors globally by making its debut on the London Stock Exchange as part of the London-Shanghai Stock connect scheme.
How to set up a conference call with China
Visit ConferenceCall.co.uk to get your free PIN before clicking on the ‘Invite Participants’ tab to generate an email template. Then enter the time, date and subject of the conference call before picking the relevant dial-in codes for UK and China.
Next up, copy the invitation, paste it all into an email and send it to as many as 100 participants.
Dial-in numbers to call
At the allotted time participants dial the following numbers and enter your PIN:
UK participants dial 033 3006 7775 (landline) +44 33 3006 7775 (when overseas) 83000 (mobile)
China participants dial 010-53876269 (from landlines) or +44 843 373 0999 (from mobiles)
Your conference call can now begin.
For more information, check out our blog How to conference call China.