Based on votes received from industry decision makers,
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
