Lloyd's ranked strongest insurance brand

Lloyd’s reputation going in to a new decade has never been stronger. In January Lloyd’s Chairman, Lord Levene, was named 2009 Insurance Leader of the Year by the St. John’s University School of Risk Management, and later that month an internal Lloyd’s survey of brokers and insureds showed there is an increasing awareness of the brand.

Now Lloyd’s has been ranked the strongest Business Superbrand in the insurance sector.

This is the highest position Lloyd’s has ever ranked, placing it 40^th overall in the 2010 Business Superbrands survey, and reflects its strength not only in the insurance industry, but as a quality and reliable brand.

Richard Ward, Lloyd’s CEO, said: “I’m pleased to see that the reputational strength of Lloyd’s has been recognised in this survey. We have come a long way in the past decade and have successfully navigated the worst recession since the Great Depression. This reinforces the attractiveness of the Lloyd’s market and our brand.”

Stephen Cheliotis, Chairman of the expert council & CEO, The Centre for Brand Analysis, said: “I applaud Lloyd’s, which tops the category and also secures its highest position in the survey ever. Whilst being highly rated in this survey is pleasant news for the respective brand owners it is also an indicator of their business’s ability to grow through a brand that stakeholders, trust, want and believe in.”

Lloyd’s recently revealed its 2010 – 2012 strategy which focuses on the role it plays in supervising the market. Maintaining and developing the attractiveness of the Lloyd’s market is central to the strategy, which includes working to ensure that London remains a competitive financial services centre. The strength of the Lloyd’s brand is essential to this.

Throughout the financial crisis Lloyd’s has been the spokesperson for the insurance industry and reminded everyone that the financial services sector as a whole has not been to blame. Lloyd’s remains strong both financially and as an industry leader.

The UK’s Business Superbrands are chosen by a panel of experts and over 1,700 individual business executives from across the UK who vote in an independent selection process considering thousands of brands from over 50 sectors.