Tuesday 6 July 2010, 10:00 - 18:00
In common wIth other financial services sectors, the insurance market has faced a turbulent year. According to the ratings agency Fitch, the top 25 life insurers lost $63bn (£40.9bn) of capital. Marvin Feldman, chief executive officer of the Life Foundation, believes that re-pricing of products and a restructuring of portfolios will be necessary, but that 2010 will see robust growth of 10%.
Similarly, potential landmark changes to healthcare provision in the US enacted by the Barack obama administration will cause significant disruption to the healthcare market.
This may create opportunities for new players and represents a shift in the state of the US market. In addition, according to Barry Lundquist, president of the council for Disability Awareness, disability insurance is a field poised for rapid growth as more consumers realise its significant impact on earning capacity; meanwhile the annuities market goes from strength to strength.
Therefore, despite significant disruption, the growth of the insurance market has been robust. this is demonstrated by the significant increase of the total brand value in this year’s Brand Finance Insurance 50, the index of the world’s 50 most valuable insurance brands. the total brand value of the top 50 insurance brands has increased from $119bn (£76.4bn) in 2009 to $162.5bn in 2010.
At the regional level, the top 50 insurance brands are dominated by north American and western European companies. the US contributed more brands than any other country, with 12 brands in the table; however, European brands account for the largest proportion of brand value amounting to $108bn and, therefore, about two thirds of the total brand value is attributable to this region. European brands have seen their values increase by £36bn in 2010, which represents
Author and Director, BrandGenius & CEO, Genius Works
Programme information is currently not available.