Lloyd’s Ranked as one of UK’s ‘Leading Business Brands

February 24, 2010

Lloyd’s has been selected as one of the UK’s leading business brands – ranking first in the insurance sector and 40th overall – in the 2010 Business Superbrands survey.

Lloyd’s pointed out that this is the highest position it has ever been accorded by the survey and “reflects its strength not only in the insurance industry, but as a quality and reliable brand.”

Richard Ward, Lloyd’s CEO, commented: “I’m pleased to see that the reputational strength of Lloyd’s has been recognized 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, applauded Lloyd’s ranking. He pointed out that while 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 also indicated that it had recently “conducted its own survey of the market, including over 500 brokers, insureds and reinsureds around the world, which revealed an increasing awareness of the Lloyd’s brand name across the globe.

“Top of mind awareness, familiarity, favorability and trust of Lloyd’s had all improved since 2007. In terms of Lloyd’s stability on a scale of one to 10, respondents gave the market an average score of 8.1, compared to 7.1 for the wider insurance market and 5.9 for all financial institutions.”

Given what’s happened to most of those other financial institutions since 2007, it’s surprising that any of them are ranked that high.

Source: Lloyd’s of London – www.lloyds.com

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