Euromoney names AIU top insurance provider

MANILA, Philippines - AIU, the world’s leading property-casualty insurance network, for the second time in a row has been named the Best Insurer in Asia in the second annual Euromoney Insurance survey, conducted between Oct. 27, 2008 and Dec. 19, 2008. AIU in Asia also swept top honors this year in the ‘innovation’, ‘price’ and ‘product range’ categories. Philam Insurance Company Inc. (Philam Insurance) is a member of the AIU network in the Philippines.

Roberto R. Romulo, chairman of Philam Insurance Inc., pointed out that Philam is part of an AIU tradition of insurance excellence in the Philippines that dates back to 1930s. “More than 70 years ago we laid the foundation in the Philippines for the great AIU service culture that still guides us today. Our customers here know us and, more importantly, they know they can depend on us as their partner in managing personal and business risk through good times and bad.”

Anton.DuPlessis, president & CEO of Philam Insurance Company Inc. added that “in these difficult times, it is more important than ever that our products, prices and services are aligned with the needs of our customers. This survey dramatically highlights that the high levels of value and service we provide is unmatched, and that our customers understand and appreciate this.”

Overall, the survey ranked AIU as ‘Top Insurance Provider’ in the world and winner in ‘best insurer’, ‘best in innovation’, ‘best in price’, ‘best for claims resolution’, ‘best product range’, and ‘best consultant for insurance risk transfer’.

More than 400 risk managers, treasurers, chief financial officers and other direct buyers of insurance at top companies in 59 countries were polled for the survey. Respondents were asked to rank the best insurers, brokers and also the best companies providing alternative mechanisms for risk transfer.

“Despite the great economic uncertainty that exists in the world today, these survey results reaffirm that AIU continues to provide customers in the region with the best products at the right cost and with unmatched levels of service”, commented Leslie Mouat, AIU’s regional president for Southeast Asia. “This honor is also a very real testament to the dedication and expertise of the thousands of professionals on the AIU team in the region, who serve and support our customers,” he continued.

The AIU network in Asia has roots that extend back to 1919 and the first office in Shanghai. Today, it serves millions of individuals and businesses in the region from its operations in Singapore, Thailand, Indonesia, Philippines, Hong Kong, Taiwan, Vietnam and Malaysia.

In recent years, AIU member companies in Southeast Asia have won many prestigious industry awards, including the Asia Insurance Review ‘General Insurance Company of the Year’ and ‘Innovation of the Year’.