For an industry as rooted in tradition and values as insurance, it should come as no great shock that five insurance companies have been named to
Ethisphere, an international organization dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has been compiling the rankings of ethical companies since 2007.
Making this year's list in the Insurance category: Aflac Inc., Sompo Japan Insurance, Swiss Re and Wisconsin Physicians Service Insurance Co., while The Hartford Financial Services Group was ranked in the Financial Services category.
"We are honored to be the only insurance company on Ethisphere's list of World's Most Ethical Companies for five straight years," Aflac Chairman and CEO Dan Amos said in a statement. "Honesty, integrity and transparency are long-held values and Aflac and it is a great source of pride to be recognized by Ethisphere; the definitive authority when it comes to corporate ethics."
Of the other industries ranked, only a handful, including the banking and computer software industries, had more companies ranked than insurance.
To compile the 2011 list, Ethisphere reviewed thousands of companies using its propriety methodology before determining there were 110 companies that surpassed their industry peers. Winners include companies from 38 industries, and 43 companies headquartered outside the United States.
"The winners of the World’s Most Ethical Companies are the standouts," Ethisphere says. "Each of these companies will have materially higher scores versus their competitors. They are the companies who force other companies to follow their leadership or fall behind. These are the companies who use ethical leadership as a profit driver. And each of these companies embody the true spirit of Ethisphere’s credo, 'Good. Smart. Business. Profit.'"
