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October 11, 2016 at 03:00 AM
Two major life insurers are ranked among the world’s 100 most valuable brands, according to a new report.
Interbrand, a brand consultancy and division of Omnicom, placed AXA SA and Allianz SE in the 46th and 51st positions respectively in its survey, “Best Global Brands Rankings: 2016.” The rankings are based on Interbrand’s analysis of the financial performance of branded products or services, the role of brands in customers’ purchasing decisions, and the brands’ competitive strength.
Related: The top 100 life & health insurance companies of 2015
AXA’s brand value since 2015 rose by 14 percent to USD $10.6 billion, propelling the Paris-based life insurer to 46th from 48th place among the top 100 global brands. Allianz, headquartered in Munich, boosted its position in the annual rankings, climbing three notches from 54th place, while its brand value increased by 12 percent to USD $9.5 billion.
In the U.S., AXA sells insurance products through AXA Equitable Financial Services LLC and its family of companies, including AXA Equitable Life Insurance Co., New York.
Allianz’s U.S. unit, Allianz Life Insurance Company of North America, is based in Minneapolis.
In its analysis, Interbrand said AXA is increasing its brand awareness by embracing changes needed to better serve customers in the digital era and by attracting and retaining management talent.
“[AXA is] an inspiring brand that has humility and conviction,” Interbrand states. “When they set out a promise, you can be sure it will be delivered on.”
Turning to Allianz, Interbrand praises the insurer’s record financial results, its strategic focus on “true customer centricity,” its digitalization approach and the company’s strong commitment to sustainable development.
“It’s clear the best global brands are not just weathering change, but driving it,” says Interbrand Global Chief Executive Officer Jez Frampton in a press statement. “They understand their Anatomy of Growth is complex, unique and personal. They look inward and outward, expand into new markets, and create better experiences to grow their brands and businesses.”
The world’s 5 top growing brands include:
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Facebook (48 percent growth)
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Amazon (33 percent)
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LEGO (25 percent)
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Nissan (22 percent); and
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Adobe (21 percent).
With a combined 29 positions, automotive and technology brands dominate this year’s report. Retail is the top growing sector, increasing 19 percent, followed by the sporting and luxury sector: Each experienced a 10 percent increase.
