ICBC-AXA Life Tops Chinese-Foreign JV Insurance Brand Ranking

ICBC-AXA Life has topped a latest ranking for the most valuable Chinese-foreign joint venture insurance brands, with a valuation of US$1.1 billion, supported by strong bancassurance capabilities and broad market access.

The latest study results were unveiled by London-headquartered Brand Finance, the world's leading brand valuation consultancy, on May 28.

ICBC-AXA Life Insurance combines the scale and distribution network of a major domestic banking group with international expertise in insurance operations, and it's expected to unlock greater value in China's ever-evolving insurance market.

To conduct an in-depth analysis of the value of the joint venture segment, which is playing an increasingly significant role in China's insurance market, a dedicated survey on the brand assets of joint venture insurance companies in the Chinese market was carried out for the first time this year.

The survey was conducted in strict accordance with the ISO 10668 international brand valuation standard, resulting in an authoritative brand value ranking report.

"Based on this year's special research and valuation analysis, ICBC-AXA Life demonstrated strong overall capabilities across all assessment criteria, ultimately standing out among joint venture insurance companies to top the brand value rankings," said Chen Yideng, China president of Brand Finance.

Established as a joint venture by three financially robust Chinese and international shareholders–Industrial and Commercial Bank of China (ICBC), AXA Group of France and China Minmetals Corporation–ICBC-AXA Life Insurance leverages ICBC's extensive distribution network while integrating AXA Group's global expertise in insurance.

Its steady revenue performance and rigorous capital management have consistently reinforced the company's brand value and leading position in the joint venture life insurance market.

In terms of brand development, ICBC-AXA Life leverages the unique resources of a joint venture insurer founded jointly by Chinese and overseas shareholders. It has remained steadfast in upholding the fundamental purpose of insurance protection, and consistently aligns its corporate development with the national economy and people's livelihoods.

With social responsibility as its foundation and professional service as its cornerstone, the company is building a flagship insurance brand that combines professional credibility with social warmth, enabling the power of insurance to become deeply integrated into the country's economic development and people's livelihoods, and injecting sustained momentum into the steady development of society.

It aims to be a trusted guardian throughout its customers' lives and also an active force guarding social development.

Earlier this year, the company formally launched a brand image elevation initiative, establishing "Guardianship" as its core value, and it plans to further demonstrate a responsible corporate image to the general public through concrete actions.