Allianz’s aggressive branding
strategy is paying off with the insurer achieving the highest brand
value increase of any European financial services company in
Interbrand’s Best Global Brands 2011 study. The brand
consultancy estimates Allianz’s brand value at $5.35bn, up 9% on a
year earlier.
Interbrand’s estimate of Allianz’s
brand value ranks it as the second most valuable among insurance
companies after Axa which has an estimated brand value of
$6.69bn.
Go deeper with GlobalData
Among the 14 financial services
companies included in Interbrand’s top 100 global brands, Axa ranks
sixth and Allianz eighth. In the financial services sector,
Interbrand ranks American Express first with an estimated brand
value of $14.57bn.
The Interbrand ranking calculates
the value of a brand based on a number of criteria including brand
relevance, brand leadership, market position, customer loyalty and
diversification.
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By GlobalDataAcross the top 100 global brands in
the 18 sectors evaluated by Interbrand, Axa ranks 56th and Allianz
67th. The only other insurer among the top 100 global brands is
Zurich Financial Services, ranked 14th among financial services
companies and 94th across all companies based on an estimated brand
value of $3.77bn.
Based on Interbrand’s evaluation,
Allianz is gaining ground on Axa. Specifically, since 2007
Allianz’s estimated brand value has increased by 35% (from
$3.96bn), while the French insurer’s brand value has fallen by 8.6%
(from $7.33bn).
In a comment on its 2011
evaluation, Interbrand noted: “Following the 2008 financial crisis,
certain financial brands continue to struggle, particularly those
financial brands based in the US.”
However, on European financial
services sector companies such as Allianz and Spanish banking group
Santander, Interbrand added: “Such organisations seemed deeply
committed to restoring consumer trust and re-establishing strong
business ethics.”
“The fact that our brand is coming
out of the financial crisis stronger than ever, shows us that we
have a sound business strategy, strong performance and most
importantly a credible customer promise that we follow up on,” said
Allianz’s global head of group market management Joseph Gross.
At present some 80% of Allianz
units in 70 countries operate under the Allianz name, up from 65%
in 2007.
According to Interbrand, the most valuable brand across all
sectors is Coca Cola with an estimated brand value of $71.86bn.
