Financial Services (Insurance) Sports Sponsorship Landscape – Analysing Biggest Brands and Spenders, Venue Rights, Deals and Case Studies
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Financial Services (Insurance) Sports Sponsorship Landscape Report Overview
The insurance sector accounts for an estimated annual spend of $1.04 billion in sport sponsorship for 2023. Sports sponsorship is one of the most effective ways for brands to increase their visibility and profile since sports are incredibly popular around the world, with the most popular leagues and teams being viewed by millions. Brands are eager to attach themselves to widely viewed properties to increase the number of eyes on their branding and advertisements. Greater awareness of a brand can lead to increased sales and profits, so it certainly pays for brands to pay sums of money to attach themselves to sporting properties.
The Financial Services (Insurance) Sports Sponsorship Landscape report provides deep insights into the insurance sector sponsorship market trend, most active sport, product categories, key product sponsorship market, and most attractive sports leagues, and properties of insurance sector companies.
|Annual Spend (2023)||$1.04 billion|
|Key Sports Types||· Soccer
· American Football
· Ice Hockey
· Multi-Sport Games
· Motor Racing
· Rugby Union
|Leading Brands||· GEICO
· State Farm Insurance
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Financial Services Sports Sponsorship Market Dynamics
The insurance industry has seen a steep increase in both the number of sports deals signed per year as well as annual spending.
Insurance is one of the many facets of the financial services sector. There is an abundance of insurance companies operating globally, and many of them have taken the opportunity to involve themselves in sport sponsorship. However, except for a few deals, most insurance deals tend to be for lower sums and for shorter durations in comparison to other sectors heavily involved with sports sponsorship. While the value of deals struck with insurance brands tends to be lower than that of other industries like airlines and betting, the deal volumes are significant.
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Financial Services Sports Sponsorship Market Segmentation by Sports Types
Soccer is the most popular sports to sponsor among insurance brands, followed by baseball.
The key sports associated with the financial services sponsorship landscape are soccer, baseball, American football, ice hockey, multi-sport games, golf, motor racing, basketball, rugby union, and tennis. The biggest deals in both sports are team deals. American football continues to prove itself as one of the most commercially attractive sports globally and ranks third in annual deal spend. This is because of the enormous popularity of the league in North America and its growing appeal globally.
Financial Services Sports Sponsorship Market Analysis by Sports Types, 2023 (%)
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Financial Services Sports Sponsorship Market Segmentation by Active Brands
Amongst all the global insurance brands with active sponsorship deals in 2023, GEICO has the most agreements in place.
Some of the global insurance brands with active sponsorship deals in 2023 are:
- State Farm Insurance
GEICO’s two biggest sponsorship deals come with North American federations, with partner deals in place with the MBL and NASCAR. State Farm Insurance ranks third in the active deal count. Allianz is the highest-spending brand amongst insurance brands. The primary driver of value for Allianz is a deal with the IOC to serve as one of the federation’s primary partners. Additionally, the brand also has several high-profile deals with major European soccer clubs including Bayern Munich, Juventus, and Barcelona.
Financial Services Sports Sponsorship Market Analysis by Active Brands, 2023 (%)
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Segments Covered in the Report
Financial Services Sports Sponsorship Sports Types Outlook (Value, $ Billion, 2017-2023)
- American Football
- Ice Hockey
- Multi-Sport Games
- Motor Racing
- Rugby Union
- This report provides an overview of the insurance sponsorship sector globally, with a focus on different regions.
- The report identifies the key insurance brands currently operating in the sector, including the most active brands and the ones with the highest spend.
- A look at which sports are the most frequently sponsored by insurance brands, and the benefits they have reaped from these deals.
- A detailed look at what kinds of partnerships are most prevalent when it comes to insurance brands.
As of 18th July 2023, there are a total of 606 active deals with insurance brands, globally, with much of this deal volume being driven by deals within soccer. Specifically driving this are an abundance of deals with teams, with the five highest deal values in this dataset all being part of soccer deals. Some of the bigger deals with soccer teams come with globally recognized teams including Bayern Munich, Borussia Dortmund, Juventus and Tottenham. The biggest of these deals is between Tottenham and AIA, in an agreement that has been in existence for over a decade. The deal between the two is a shirt sponsor agreement, with a reported annual value of $49.9 million.
A popular target for North American insurance brands is the MLB, which is understandable given that the demographic of baseball fans tends to skew towards older age groups who would likely be more interested in purchasing insurance than younger generations would. The biggest of these deals comes between the New York Yankees and Starr Insurance, where the insurance brand agreed to serve as the team’s jersey patch sponsor in a deal worth an estimated $30 million a year. While this fee is largely due to the enormous popularity of the Yankees, it does also show the power that an MBL team can wield in agreements such as this.
Reasons to Buy
- For those wanting an in-depth analysis of how the biggest partnerships are active in the sector.
- Discusses why some brands are more active than others, and how this is affected by the sports that are most popular in their regions.
- GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition and secure that all-important competitive advantage.
State Farm Insurance
American Family Insurance
Table of Contents
- 1. Key Information and Background
- 1.1. Introduction
- 1.2. Executive Summary
- 2. Market Insights
- 2.1. Industry Market Trends
- 2.2. Industry Major Sponsorship Markets
- 3. Sector Analysis
- 3.1. Sector Summary
- 3.2. Sport Breakdown
- 3.3. Product Category Breakdown
- 3.4. Market Analysis
- 3.5. Biggest Deals
- 3.6. Expiring Deals
- 4. Case Study
- 4.1. Name Case Study
- 5. Brand Analysis
- 5.1. Brand Summary
- 5.2. Brand Location Analysis
- 5.3. Most Active Brands
- 5.4. Biggest Spenders
- 5.5. Key Brands Analysis
- 6. Appendix
- 6.1. Sources
Frequently asked questions
What is the estimated annual spend accounted for by the insurance sector for sports sponsorship in 2023?
The insurance sector accounts for an estimated annual spend of $1.04 billion in sport sponsorship for 2023.
Which is the leading sports associated with the financial services sponsorship landscape?
Soccer is the leading sports associated with the financial services sponsorship landscape in 2023.
Who are the active brands in the sports sponsorship market financial services sector?
Some of the global insurance brands with active sponsorship deals in 2023 are GEICO, Allianz, State Farm Insurance, Aon, and Gallagher.
Which is the leading brand in the sports sponsorship market financial services sector?
GEICO has the greatest number of active sponsorship deals in the sports sponsorship market.
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