Business News: LIC Surpasses Global Insurance Companies With The Highest Brand Value In the World

Business News: India’s largest insurance company, LIC, has become the strongest insurance brand in the world. According to the Brand Finance Insurance 100 report, LIC has surpassed all major global insurance companies to claim the top spot. The brand value of this company is estimated at Rs 9.8 trillion. It scored 88.3 on the Brand Strength Index and also received a AAA rating. 

Top Insurance Companies in the World

Life Insurance Corporation (LIC) secured premiums of Rs 90.90 billion in the financial year 2023, while Life Insurance Corporation of India (LIC) garnered premiums of Rs 151.97 billion. Moreover, LIC employees received a 17% increment in their salaries. On the second spot, Taiwan’s Cathay Life Insurance witnessed an increase in brand value to 9 and reached a total of $4.9 trillion. Meanwhile, NRMA Insurance, in the third position, saw an increase in brand value to 82 and reached a total of $1.3 trillion. Denmark’s Tryg insurance company also experienced an increase in brand value to 66, reaching a total of $1.6 trillion.