Crowned the World 's No. 1 Insurance Company
(Hong Kong, Shanghai, 3 February 2017) Brand Finance®, a British-based brand consultancy, has published “Global 500 2017” its new ranking of the 500 most valuable brands of 2017. Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx: 2318; SSE: 601318) is ranked 79th, with an estimated value of USD16,324 million, up 13 places from last year’s ranking and with a brand value 29% higher compared to 2016. Ping An ranks as the top brand in the global insurance sector. It is worth noting that there are only two insurance companies in the top 100 – Ping An and Germany's Allianz. Allianz ranks 85th in the “Global 500 2017”.
The latest ranking shows that technology related companies have a larger rise in brand value over the past year. Most of the companies in the Top 10 are technology companies. Besides the top three companies — Google, Apple and Amazon — there are technology companies such as Microsoft, Samsung Group and Facebook.
Brand Finance is the world’s leading brand business valuation and strategy consultancy. It evaluates thousands of renowned brands around the world and announces the most valuable brands in its annual “Global 500” report. This year, Brand Finance has calculated brand value using the methodology which determines the value a company would be willing to pay to license its brand as if it did not own it. This approach includes brand recognition, loyalty, promotional campaigns, marketing investment, staff satisfaction levels and corporate reputation. This approach also involves estimating the likely future sales that are attributable to a brand.
Ping An said that the Group was able to be ranked as the most valuable insurance brand by Brand Finance thanks to the long-term support and recognition from clients and employees. Ping An has been adhering to the brand philosophy of “expertise makes life easier”, and continuing to optimize the quality of products and services. The Group is committed to improving the service quality and experience from every contact with customers and ultimately creating value for them. The Group will continue to focus on technological innovation, and make use of new technologies such as Mobile Internet, Big Data and Cloud Service to make customers’ life experience simpler, more convenient and of better quality, continuously improving the customer experience.
In addition to Ping An, Chinese companies that rank in the top 100 include: ICBC (10), China Mobile (11), China Construction Bank (14), Alibaba (23), Bank of China (29), Sinopec (32), PetroChina (33), Agricultural Bank of China (34), Huawei (40), Tencent (47), China State Construction (53), China Telecom (70), China Merchants Bank (91), JD.com (97) and WeChat (100).