In 2023, the insurance company with the highest brand value globally was Ping An. The brand value of the most valuable insurance company globally decreased by approximately 25 percent between 2020 and 2021. In 2023, Ping An's brand value amounted to approximately 32.25 billion U.S. dollars, down from 42.93 billion U.S. dollars in the previous year.
Insurance in China
The Chinese insurance industry almost disappeared between 1949 and 1976 during Mao Zudong's reign, but has rapidly expanded since China reopened its doors to the outside world in 1978. It has grown especially fast since the late 1990s and is now home to the two largest insurance brands in the world, Ping An and China Life. These two companies also featured in the top five global life and health insurance companies by revenue.
The rapid growth of the Chinese insurance market
The insurance industry is growing rapidly in China and the number of insurance companies is on the rise. In 2019, the total value of life insurance premiums in China was greater for life premiums than for non-life. Taking out insurance is more popular in urban areas, as people tend to be wealthier and are thus more likely to have valuable assets which they wish to protect. The number of health insurance premium payers in urban areas of China has been steadily increasing since 2008. The number of Chinese people covered by public health insurance has increased in recent years.
Leading insurance brands worldwide from 2020 to 2023, by brand value
(in billion U.S. dollars)
Characteristic
2020
2021
2022
2023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Brand Finance. (April 30, 2023). Leading insurance brands worldwide from 2020 to 2023, by brand value (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/378185/leading-global-insurance-brands/
Brand Finance. "Leading insurance brands worldwide from 2020 to 2023, by brand value (in billion U.S. dollars)." Chart. April 30, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/378185/leading-global-insurance-brands/
Brand Finance. (2023). Leading insurance brands worldwide from 2020 to 2023, by brand value (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/378185/leading-global-insurance-brands/
Brand Finance. "Leading Insurance Brands Worldwide from 2020 to 2023, by Brand Value (in Billion U.S. Dollars)." Statista, Statista Inc., 30 Apr 2023, https://www.statista.com/statistics/378185/leading-global-insurance-brands/
Brand Finance, Leading insurance brands worldwide from 2020 to 2023, by brand value (in billion U.S. dollars) Statista, https://www.statista.com/statistics/378185/leading-global-insurance-brands/ (last visited July 22, 2024)
Leading insurance brands worldwide from 2020 to 2023, by brand value (in billion U.S. dollars) [Graph], Brand Finance, April 30, 2023. [Online]. Available: https://www.statista.com/statistics/378185/leading-global-insurance-brands/