Based on votes received from industry decision makers, Chubb Insurance, Warren, N.J., was named a 2010 World Finance Award winner. Sponsored by London-based World Finance, a publisher of financial information to the global markets, the 4th annual World Finance Awards represent the benchmark of achievement in areas such as innovation, originality and quality of product, as well as proof of market development and excellence in client representation.

In its statement surrounding the release of the winners, the publisher noted: “Long-term structural changes to commerce in the global economy may well have altered some characteristics of the insurance industry. But the sector has a constant in monetizing risk and providing risk-sharing mechanisms, enabling individuals and businesses to safely build and hold assets. And as with many other mature industries, growth opportunities for the insurance sector are trending toward developing economies.”

The panel of judges, notes the World Finance release, sought to avoid danger of bias toward criteria such as depth of practice, size of company, international links and reputation, which in so many other industry awards skews the competition in favor of the larger firms with global networks, leaving the excellent work of smaller, nationally based firms and those operating in niche areas, unrecognized.

“The awards are designed to redress this balance, not to favor the smaller firms, but to publicly recognize that the services they provide are every bit as valuable to their clients as those of their larger counterparts,” notes the release.

Voters also were encouraged to suggest additional categories if they feel that the existing categories don't cover all the aspects they feel deserve recognition in a given sector. Any additional awards the panel deem to be appropriate will be added to the nomination form for other users to vote on.

The following companies and their respective countries are recognized as “Insurance Companies of the Year":

Argentina
Mapfre

Austria
Uniqa Sach

Belgium
AXA

Brazil

Bradesco

Bulgaria
Allianz Bulgaria

Canada

Intact

Caribbean
Guardian Life of the Caribbean Ltd

Chile
ING Seguros de Vida

Colombia

Seguros Bolívar S.A.

Croatia   
Croatia Osiguranje

Czech Republic   

Ceska Pojistovna

Denmark   

Codan Forsikring

Estonia       
SwedBank

Finland   

Tapiola

France   

AXA

Germany   

Allianz

Greece       

INTERAMERICAN GROUP

Hong Kong   
HSBC Insurance
   
Hungary   
Groupama Garancia

India  

Bajaj Allianz

Indonesia   

PT Asuransi Jiwasraya (Persero)

Italy   
Poste Vita S.p.A.

Kazakhstan   

Kazkommerts JSC

Latvia   

BTA

Lithuania   

Lietuvos Draudimas

Luxembourg   
Foyer Group

Malaysia   
Great Eastern Life Assurance

Mexico   
Seguros BBVA Bancomer

Middle East   

ADNIC - The Reliable Insurer

Netherlands   
Nationale Nederlanden

Nigeria   
Nicon Insurance Plc.

Norway   
KLP

Pakistan   

Adamjee

Peru   

Rimac Seguros

Philippines   
AXA Philippines

Poland   
Warta

Portugal   

Caixa Seguros

Romania   
Omniasig

Russia   
Rosno

Serbia   

Dunav

Singapore   
NTUC Income

Slovakia   
Allianz Slovenska

Slovenia   

Triglav

South Africa   

Momentum Group

Spain   
Mapfre

Sri Lanka   
Sri Lanka Insurance

Sweden   
SEB Trygg Liv

Switzerland   
Zurich

Taiwan   
Cathay Life Insurance Co. Ltd.

Thailand   
Thai Life Insurance Co., Ltd.

Turkey   

AXA SIGORTA

Ukraine   
Oranta

United Kingdom   
Chartis

USA
   
Chubb Corporation

Venezuela   

Seguros Caracas

Vietnam   
PetroVietnam Insurance Joint Stock Corporation

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