IAG-owned NRMA Insurance has ranked as the fastest-growing and third-strongest insurance brand in the world according to Brand Finance’s Insurance 100 annual report.  

NRMA Insurance secured an 82% increase in the value of its branding since last year’s report, the biggest change among insurers. Its brand value now stands at $USD1.3 billion ($2 billion). Suncorp ranked fourth in positive brand value change, with the insurer reporting a 45% growth.  

Brand Finance reported no change in its top five most valuable insurance brands, with Chinese brands Ping An, China Life Insurance, and CPIC ranking first, third and fifth, respectively. Ping An value grew by 4% to $USD33.6 billion ($51.59 billion).  

Germany’s Allianz ranked second, reporting a 17% value increase to $USD24.6 billion ($37.77 billion), while French insurer Axa rated fourth at $USD16.6 billion ($25.49 billion).  

Brand Finance Asia Pacific MD Alex Haigh says its research suggests that the top brands are “well poised for growth in an increasingly competitive landscape”.  

“The continued growth of Chinese insurance brands in the global market underscores their strategic agility and relentless pursuit of innovation while their European counterparts such as Allianz and Axa demonstrate remarkable adaptability through customer-centric strategies and digital transformations,” Mr Haigh said.  

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