Mapfre is now the seventh strongest insurance brand in the world, up 10 positions from last year, according to the Brand Finance ranking, which analyses the relative strength of brands based on various parameters such as marketing investment and corporate reputation, among others.

The company has improved by 1.4 points compared to its 2019 ranking and has received a Brand Strength Index (BSI) score of 81.3 points out of a maximum 100 points.

Brand Finance also assesses the value of brands and, in this ranking, Mapfre is listed as the 38th most valuable insurance company in the world, having seen a 14 per cent increase in brand value in the past year.

The consultancy firm emphasises that Mapfre is a strong brand and recognises the solvency and liquidity position with which Mapfre faces this crisis. In this regard, it notes the group’s Solvency II ratio, which stands at 187 percent, as well as its financial flexibility.

The Brand Finance report predicts that the COVID-19 crisis could decrease the brand value of the world’s top 100 insurance companies by around €93 billion, as it is one of the industries most heavily impacted by the coronavirus crisis.