In Interbrand’s 2023 Best Global Brands ranking, Allianz recorded a brand value of $20.85bn, 11.5% growth since last year and an increase of $2.15bn.

Overall, it moved up three position to rank 31 in all industries.

The global insurer, with 122 million customers, 159,000 employees, and more than 315,000 agents and brokers, has deployed a global One Brand Strategy, bringing together various entities under the purpose-led Allianz master brand and various sub-brands.

In addition, it rebranded Euler Hermes to Allianz Trade in 2022 to boost consistency and coherency, as well as bundling Mid-Corporate and Large-Corporate into Allianz Commercial.

Furthermore, the Allianz family of stadiums, the global partnership with the Olympic and Paralympic Movements, and many other partnerships with sports and cultural organisations have resulted in the brand being perceived in a much more tangible way. 

“Our position in the Best Global Brands ranking is the strongest ever. This affirms the growing strength of the Allianz brand and the trust bestowed upon us by customers, agents and brokers, business partners, and employees,” said Bernd Heinemann, group strategy, marketing and distribution officer at Allianz SE.

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“Being the #1 insurer is just the beginning. Allianz is looking beyond the industry and aspires to compete with the world’s most valuable brands. In this league, all players have one thing in common: a deep understanding of the value their brands bring to their businesses.”

However, Allianz reported net income of €2.13bn ($2.28bn) for the third quarter (Q3) of 2023, a dip of 29% compared with €3bn a year ago.

Revenue for the period that ended on 30 September 2023 increased by 4.5% to €36.5bn from €34.9bn in 2022.

The German insurance company’s property and casualty (P&C) business reported a revenue of €17.2bn, a 6.1% jump year-on-year (YoY).