CURRENT AFFAIRS

Detailed explanation-1: -Ping Insurance is the topmost valuable insurance company globally as per the latest Brand Finance report of 2022. The company is from which country? Explanation: Ping An Insurance of China is at the top of the brand valuation report released by Brand Finance.

Detailed explanation-2: -Ping An (brand value down 4% to US$42.9 billion) remains the world’s most valuable insurance brand, being stuck behind the COVID curtain of widespread continuing lockdowns.

Detailed explanation-3: -According to this valuation, LIC is largest and strongest brand in the country with a valuation of USD 8.655 billion in 2021, which grew by 6.8 per cent from USD 8.11 billion in 2020, when the value of top 100 insurers declined by 6 per cent globally.

Detailed explanation-4: -Chinese firm ‘Ping An Insurance’ emerged as the world’s most valuable insurance brand, despite recording a 26 per cent drop in brand value in 2021 over the previous year. In the strongest insurance brands category, Italy’s Poste Italiane was at the top position, followed by Mapfre of the US and LIC of India.

Detailed explanation-5: -LIC’s brand value also climbed in overall global brand rankings by 32 places to become the world’s 206th most valuable brand in 2021, from 238th slot in 2020.