New research analysis conducted by ICMR and Gracechurch, launched exclusively for the Monte Carlo Rendez-Vous and featured on Insurindex, shows that leading insurance CEOs should now treat brand development as a fundamental building block of any growth strategy.

Brand building

Brand leadership and positioning is becoming essential as insurance businesses compete more intensely on customer experience, attracting and retaining talent and demonstrating ESG credentials.

But there are no short-cuts: brand-building needs to be an invested, core aspect of your long-term strategy, making sure that your brand demonstrates strong values and a clear, superior offer for customers.

The findings

Our analysis of over 20 Lloyd’s businesses shows:

  • A strong correlation between brand strength (familiarity) and size (GWP)

  • That deteriorating brand strength is often a leading indicator of slowing growth

  • That brand development is long-term and needs to be based on a clear and consistent articulation of what the business stands for in terms of values and superior ‘customer appeal’  

  • Investment in high-quality strategic marketing is essential and will accelerate brand-building

Which brand are you?

The examples below show three Lloyd’s players in very different brand scenarios: 

This insurer’s brand strength was hit fast and hard and fell precipitously. The damage might not be fatal, but turnaround will be a long road. The company will be losing out on quality business making profitability increasingly hard to achieve, despite favourable market conditions.

The lesson is once you’ve built a brand, cherish it. 


This is the London market business of a large global player – the brand has been volatile with premium stable, but in a hard market where competitors are achieving better growth.  

It is likely that a more consistent brand-build would have resulted in better growth in line with or ahead of the market. This example is also interesting because the brand is a household name, meaning that it would have been cost-effective to build brand familiarity in London.

All the indications are that this insurer has missed an opportunity.


Beazley has created strong positive alignment between brand strength and gross written premium growth. This potent combination is the result of investment in sophisticated marketing and application of consistent values and service delivery over a long period. 

Notably Beazley was also the number one Insurindex London Market Powerbrand in 2022.

Beazley’s strong brand gives it strategic advantages over many competitors.


For more information on this research and any other aspect of brand and financial performance please contact Ben Bolton 


ICMR and Gracechurch analysed over 20 Lloyd’s businesses based on financial and independent survey trends over the past eight years.

About ICMR

Insurance Capital Markets Research (ICMR) is a quantitative research consultancy with a focus on the Lloyd’s of London market and the wider global specialty (re)insurance industry. Our clients are insurance carriers, intermediaries and investors.

Clients engage ICMR for independent research by industry experts with a proven track record in delivering insights on markets, performance and valuations.

Our core capability is the assessment and modelling of performance and return profiles of (re)insurance entities and portfolios, both within Lloyd’s and globally.

About Gracechurch

Founded in 2000, Gracechurch is the leading research and advisory company serving the commercial insurance sector. Gracechurch provides global commercial insurance leaders with high-quality, targeted independent research to benchmark performance.

About Insurindex

Insurindex ranks the leading commercial insurance sector entities based on a range of professionally curated and validated evidence sources including surveys, social media and financial analysis.

Its work is overseen and informed by an advisory group made up of experts from the fields of insurance, marketing, brand and digital.