The world's most valuable insurance brand are revealed

In a newly released global collaboration of the top 500 most valuable brands worldwide, only two names from the insurance industry made it into the top 100.

The list, compiled every year by value and strategy consultancy firm Brand Finance, saw various brands compete for the infamous title of 'World's Most Valuable Brand' - and there was a slight surprise when the winner was revealed.

China's Ping An Insurance and Germany's Allianz were the only two insurance brands to make it into the top 100, with Ping An taking a great leap forward to land in this year's 79th place - but Allianz saw a disappointing 7% drop in value down to $15.1billion.

Brands are evaluated to determine their 'power' based on factors such as familiarity, customer loyalty, staff satisfaction, marketing investment and corporate reputation. Overall brand strength is then determined by what proportion of a business's overall revenue comes directly from that brand. The results of this are then ranked and listed in order of overall global 'power' - the full list can be viewed by clicking here.

This year's rankings place Google in first place, taking the crown away from Apple thanks to a huge surge of 24% in value over the course of 2016. Google's overall value climbed from $88.1billion to $109.4billion and meant it claimed its first title since 2011.

Apple came in a close second position, but had a more challenging year with its value slipping by 27% from $145.9billion to $107.1billion - it was judged to have "overexploited the goodwill of its customers" and "failed to generate significant revenue through newer products such as the Apple Watch".

The rest of the top 10 was completed by Amazon, AT&T, Microsoft, Samsung, Verizon, Walmart, Facebook and Chinese bank ICBC respectively.