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Asia Insurance Industry Awards 2008 |
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About Asia Insurance Industry Awards 2008 |
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Fierce Competition
This is the 12th year of the Awards and there is a great excitement in the region with the new dynamism prompted by India and China. The industry is awash with stories of success and excellence.
We have once again assembled a Judging Panel of 25 eminent industry leaders, practitioners and regulators from the markets in Asia and from around the globe. The selection process will be rigorous and the Judges’ choices will be audited by independent auditors.
This is what the Asia Insurance Industry Awards aims to do - to capture that spirit of innovation and professionalism in the market; to reward the best practices and winners in the market and to salute excellence within the industry in all its forms.
This year the Awards Presentation Gala Dinner Ceremony will be held on 23rd November 2008 at The Grand Hyatt, Hong Kong, in conjunction with the prestigious 24th East Asian Insurance Congress. So mark that date in the diary now.
To take part in the Awards, all you have to do is nominate people or companies and tell us briefly why you think they have produced an outstanding performance in one of the categories during the qualifying period (see page 2 for more details). Self nominations are permitted as well.
So come celebrate your success with us and the rest of the industry, through this Awards process.
Good luck with your entry.
Sivam
Subramaniam
Editor-in-Chief
Asia Insurance Review & MiddleEast Insurance Review |
Greg Dobie
Editor
The Review |
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How to enter?
NOTE: Entries received without the 1,000 word write-up or 200 word statement (where applicable) will not be considered.
Where to send your entries
Entries must be received no later than 1 July 2008
and may be submitted by email to: awards@asiainsurancereview.com
OR fax to: (+65) 6512 5334
OR mail to:
Co-ordinator, Asia Insurance Review, 69 Amoy Street, Singapore 069888
For all categories, the qualifying period is 1st April 2007 to 31st March 2008
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The
Judges
- Clement Cheung – Presiding Judge, Commissioner of Insurance, Hong Kong
- Anuar bin Mohd Hassan, President & Group Chief Executive Officer, MNRB Holdings Berhad
- Dr Bassel Hindawi, Director General, Insurance Commission of Jordan
- Chai Sophonpanich, Chairman and President, Bangkok Insurance Public Co Ltd
- Christopher Ho, Chairman, Singapore Reinsurers’ Association
- David L Fried, Chief Executive Officer, HSBC Insurance (Asia Pacific) Holdings Ltd
- Evelina Fadil Pietruschka, Chairperson, Indonesia Life Insurance Association
- Hiroshi Endo, Chief Executive Officer, Tokio Marine Asia Pte Ltd
- Hiroshi Fukushima, Managing Director, The Toa Reinsurance Co Ltd
- Dr Huang Tien-Mu, Director General, Insurance Bureau, Financial Supervisory Commission, Taiwan
- Katsuo Matsushita, General Manager, International Department, The General Insurance Association of Japan
- Kua Ka Hin, Chief Executive Officer, Munich Re Singapore Branch
- Leslie J Mouat, Regional President, American International Underwriters SEA Regional Office
- Michael Huddart, Past Chairman, The Hong Kong Federation of Insurers
- Patrick Poon, Chairman of Operation Committee and Director, China Pacific Insurance (Life) Co Ltd
- Peter Newall, Managing Director and Head of Claims & Liability Management for Asia, Swiss Re
- Richard Austen, Chairman, Reinsurance Brokers’ Association (Singapore)
- Sara Lamsam, Chairman, Asean Insurance Council
- Simon Wilson, Managing Director of Lloyd's Asia (Pte) Ltd
- Stephen Collins, Managing Director, ReMark International B.V.
- Yogesh Lohiya, Chairman-cum-Managing Director, General Insurance Corporation of India
INTERNATIONAL PANEL
- Dave Matcham FCII, Chief Executive, The International Underwriting Association
- Gregory Maciag, President & Chief Executive Officer, ACORD
- Patrick Kenny, President & CEO, International Insurance Society Inc
- Patrick Liedtke, Secretary General & Managing Director, The Geneva Association
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The Categories
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General Insurance Company of the Year
‘For enhancing the range of products
and quality of service available to customers in the
Asian Market’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to customers’ needs
- Innovation
- Industry leadership
- Business retention and growth
- Sound financial management and provision of information
- Speed and effectiveness in handling claims
- Professional standards
Sponsored by:

A member of the HSBC Group and three-time winner of the Asia Insurance Review’s Insurance Broker of the Year Award, HSBC Insurance Brokers has expanded strategically to become a major force in the provision of broking and risk management services throughout the Asia-Pacific region.
We pride ourselves on having the resources and expertise to develop imaginative solutions to our clients’ problems and have achieved an enviable reputation for innovation in risk management, insurance broking and consulting.
We recognise that the world is changing and, with it, the risks to which our clients are exposed. As part of one of the world’s biggest financial services organizations, our international network enables us to adapt successfully to these changes. Through our network, we are able to access the global insurance and reinsurance markets and develop comprehensive customised risk management programmes to meet the individual needs of our clients in the Asia-Pacific region and beyond.
For more information, visit our website at www.insurancebrokers.hsbc.com.hk
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Life Insurance Company of the Year
'For the most constructive contribution to
efficiency and effectiveness in the financing of
insurable risk in Asia’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to both end-user and intermediary needs
- Innovation
- Industry Leadership
- Business Retention and Growth
- Speed and effectiveness in assessing risks and handling claims
- Sound financial management and provision of information
- Professional standards
Sponsored by:

HSBC Insurance (Asia-Pacific) Holdings Limited is a wholly owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, which is owned by HSBC Holdings plc, the London-based holding company of the HSBC Group. HSBC Insurance Brokers is one of the largest international broking, risk management and employee benefits organizations in the world.
HSBC Insurance (Asia-Pacific) Holdings Limited is the parent company of four insurance underwriting companies, collectively known as HSBC Insurance – HSBC (Asia) Limited, HSBC Life (International) Limited, HSBC Insurance (Singapore) Pte Limited and HSBC Amanah Takaful (Malaysia) Sdn Bhd (49% held), a dedicated Takaful operation which means it is now able to provide complete Islamic financial solutions to all customers.
It has offices in the Hong Kong Special Administrative Region (SAR), the Macau SAR, Singapore and Malaysia. In mainland China, it has representative offices in Beijing, Shanghai and Guangzhou. HSBC Life also opened a representative office in Hanoi, Vietnam in January 2007 and began operating in Taiwan in September 2007.
HSBC Insurance and HSBC were joint winners in the Excellence in Bancassurances under The Asian Banker Excellence in Retail Financial Services Awards 2007. Last year, HSBC Life (International) Limited was awarded ‘Life Insurance Company of the Year’ and HSBC Insurance (Asia) Limited was named ‘General Insurance Company of the Year’ in 2000. HSBC Insurance Brokers (Asia-Pacific) Limited received ‘Broker of the Year’ in 1997, 2000 and 2006.
For more information visit www.insurance.asiapacific.hsbc.com
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Educational Service Provider of the Year
'For outstanding and continuous training service to the insurance and reinsurance industry’’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to customers’ needs
- Innovation
- Leadership to the market
- Contribution to boosting educational standards of industry
- Type and nature of training programmes offered
- Professional standards
Sponsored by:

China Pacific Life Insurance Co., Ltd. (CPIC Life), a nationwide joint-stock life insurance company specializing at life insurance business of all types, was established on November 9, 2001 with its headquarters in Shanghai, China.
The holding company of CPIC Life, China Pacific Insurance (Group) Co., Ltd. (CPIC Group) was established in 1991. Capitalizing on the CPIC Group’s strengths, CPIC Life adheres to the operational guideline of “Sound and Profitable Operation”, strives to promote and develop its core values of “Commitment to Business Integrity and Sustainable Growth”. The company currently has over 150 insurance products covering various fields of life, annuity, health, accidental injury, etc. The product ranges promoted by the company are warmly welcomed by the clients and have gained recognition from the market. In 2005, CPIC Life was awarded “Customer-Satisfying Company throughout China” by China Association for Quality.
CPIC Life has established a sale and service network covering most parts of the whole country. Distribution channels including individuals, group, bancassurance, and other intermediary business have been growing steadily. By the end of 2007, the company has established 510 regional offices, branches and sub-branches, and more than 3,000 sales offices across the country. The company has an e-commerce network in China with domestic and overseas connection. Total company assets as of December 31, 2007 reached RMB 231 billion and the premium income of the year amounted to RMB 50.7 billion, realizing an operation profit of RMB 4.55 billion.
For more information visit www.cpic.com.cn.
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Innovation of the Year
'For the operation which generated
the most innovative approach to a significant
business area’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to customers’ needs
- Originality of product/services offered
- Degree of Innovation
- Industry Leadership
- Service flexibility and efficiency
- Success of the product/service in the market
- Professional standards
Sponsored by:

Manulife Financial is a leading Canadian-based financial services group operating in 19 countries and territories worldwide. At Manulife Financial, our vision is to be the most professional life insurance company in the world: providing the very best financial protection and wealth management services tailored to the millions of customers in every market where we do business. Our PRIDE values – Professionalism, Real Value to Customers, Integrity, Demonstrated Financial Strength, and Employer of Choice – guide everything we do, from strategic planning to day-to-day decision-making, to the manner in which we treat our customers and other stakeholders.
Manulife Financial has operated in Asia for more than 100 years
and has one of the most extensive operations of any life insurance company. Manulife’s businesses in Asia are located in Hong Kong, Indonesia, Japan, the Philippines, China, Singapore, Vietnam, Taiwan, Thailand and Malaysia.
Manulife Financial is the largest life insurance company in Canada, the second largest in North America and the fourth largest in the world, based on market capitalization.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under‘0945’ on the SEHK.
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Service Provider of the Year
'For enhancing the stability and
security of the Asian insurance industry in an
exemplary manner’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to insurers’ needs
- Innovation
- Industry Leadership
- Service flexibility and efficiency
- Professional standards
Sponsored by:

Aviva is the world's fifth-largest insurance group and the biggest in the UK with 57,000 employees serving more than 45 million customers worldwide. With a history dating back over 300 years, we are one of the leading providers of life and pensions products in Europe and are actively growing our long-term savings businesses in Asia Pacific and the USA. Our main activities are long-term savings, fund management and general insurance.
Aviva is a progressive company with a reputation for creating better ways to understand and meet people's needs. It is this insight and ability to think beyond the immediate and the everyday that makes us who we are. In 2007, we set out our vision for "One Aviva, twice the value", focusing on new growth and efficiency targets designed to unlock value, drive growth and accelerate the pace of the Aviva's development in an increasingly global market.
In Asia Pacific, Aviva operates in Australia, China, India, Korea, Sri Lanka, Hong Kong, Singapore, Malaysia, Taiwan and the Middle East. Our long-term savings products and services are distributed through a multi-channel network, which includes a direct sales force, insurance intermediaries and bancassurance partners.
For more information, visit www.aviva.com
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Risk Manager of the Year
'For creativity in managing
companies’ risks and the promotion of risk
management in Asia’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to company’s needs
- Innovation
- Industry Leadership
- Sound financial management and provision of information
- Promotion of risk management as a philosophy and business discipline
- Professional standards
Sponsored by:

Member companies of American International Group, Inc. (AIG) in Southeast Asia offer a broad array of innovative insurance solutions, superior service and responsive claims handling to both commercial and consumer clients.
AIG member companies have been providing general insurance services in Asia for over 85 years. The general insurance operations of AIG in Asia are located in Hong Kong, China, Macau, Thailand, Malaysia, Singapore, Indonesia, Philippines, Taiwan, Guam, Micronesia, Vietnam and Saipan. Our local expertise coupled with our global strength gives us a unique advantage to capitalize on opportunities on behalf of our customers, throughout the international marketplace.
While products and services of AIG member companies have changed over the years to meet the evolving needs of their customers, the AIG core values of integrity, quality service, financial strength and responsive leadership will never change.
AIG's global businesses also include financial services, retirement services and asset management.
AIG reaches out to the community as Principal Sponsor of Manchester United.
For more information visit www.aig.com
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Broker of the Year
'For adding significant
value to the insurance process in the course
of generating new business’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to customers’ needs
- Innovation
- Industry Leadership
- Business retention and growth
- Sound financial management and provision of information
- Outstanding customer service and resulting business referrals
- Professional standards
Sponsored by:

Tokio Marine Asia Pte. Ltd. is the Asia-Pacific Regional Headquarters of Millea Group, which is the largest non-life insurance group in Japan with its flagship company The Tokio Marine and Nichido Fire Insurance Co. Ltd. (Japan). Tokio Marine Asia has a vision to become one of the top-tier insurance groups in Asia-Pacific with “Sustainable and Profitable Growth”.
Tokio Marine Asia is also the intermediate holding company as well as the management company of 17 group companies within Asia-Pacific - in Hong Kong, Philippines, Thailand, Malaysia, Singapore, Taiwan, China, Indonesia, Vietnam, India and Australia. It manages 12 non-life insurance companies, 4 life insurance companies and 1 reinsurance company.
Tokio Marine Asia has 46 staff, a paid-up capital of SGD71 million, and total assets worth SGD604 million.
In its commitment to expand the insurance business in the region, Tokio Marine Asia continues being the exclusive sponsor in its 6th consecutive year running for the "2008 Broker of the Year" category at the Asia Insurance Industry Awards 2008.
For more information on Tokio Marine Asia, visit us at our website “www.tokiomarineasia.com”.
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Loss Adjuster of the Year
'For the adjuster who has provided a consistent and
reliable standard of quality of service in balancing
the interests of both the insurer and the insured’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to insurance and insurers’ needs
- Innovation
- Industry Leadership
- Sound management of fiduciary obligations between the insurer and claimant
- Outstanding service to the insurer and/or the insured
- Professional standards
Sponsorship Open:
Interested parties please contact sheela@asiainsurancereview.com
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Reinsurance Broker of the Year
'For adding significant value
to the reinsurance process in the course of generating
new business’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to customers’ needs
- Innovation
- Industry Leadership
- Business Retention and Growth
- Sound financial management and provision of information
- Outstanding customer service and business referrals
- Professional standards
Sponsored by:

The Toa Reinsurance Company, Limited (Toa Re) has been going through steady growth for more than 60 years since its establishment in 1940. With the insurance market evolving and customers’ needs expanding, Toa Re has been providing diverse line of both life and non-life reinsurance products to its clients over the world as Japan’s primary professional reinsurer.
Toa Re has successfully developed business, and maintained a strong market position in Asian regions through 3 branches in Singapore, Kuala Lumpur and Hong Kong and through liaison office in Taipei. During the years of the engagement in Asian regions, Toa Re has been strengthening the relationship with its clients in the regions by overcoming many hardships.
Having built its overseas network including subsidiaries in USA and Switzerland, whole Toa Re group, with its head office in Tokyo playing a central role, has been contributing to the insurance and reinsurance markets over the world.
In acknowledgment of its outstanding financial profile, Toa Re has been assigned credit ratings of “A+“, “A+(Superior)” by “Standard & Poor’s”, “A.M. Best” respectively, which enables Toa Re to be a long term and stable provider of quality reinsurance products and services.
For more information, please visit our website http://www.toare.co.jp
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General Reinsurer of the Year
'For enhancing the stability and security of the Asian reinsurance industry in an exemplary manner'
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to insured and/or insurers’ needs
- Innovation
- Industry Leadership
- Sound financial management, corporate governance and disclosure
- Speed and effectiveness in handling claims, fairness to policyholders
- Professional standards
Sponsored by:

MSIG is the recently launched brand name of the Mitsui Sumitomo Insurance Group, a leading Asia-based insurer with a rich heritage of over 100 years. With an extensive range of tailored insurance solutions for both retail and corporate clients, MSIG has 16 businesses throughout Asia and operates in over 40 markets around the globe.
The Group significantly increased its footprint in Asia when it acquired the Asian general insurance operations of Aviva plc in 2004 and Mingtai Fire & Marine Insurance, the second largest general insurer in Taiwan, in 2005. As a result of this dramatic growth, MSIG has strengthened the services provided by its regional headquarters based in Singapore.
At MSIG, our commitment to society embodies our responsibility to our seven key stakeholders, namely customers, shareholders, agents, business partners, employees, community and environment.
MSIG in Japan has received sterling financial ratings, including an AA financial strength rating from Standard & Poor’s.
MSIG is proud to be the sponsor for the General Reinsurer of the Year Award at the Asia Insurance Industry Awards 2008 in Hong Kong.
For more information, please visit us at www.msig-asia.com.
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Life Reinsurer of the Year
'Open to companies that underwrite life reinsurance
either as the main source of business or as part of an
overall premium income mix’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to insured and/or insurers’ needs
- Offering superior service and security to clients
- Ability to adapt to market and industry changes
- Sound financial management, corporate governance and disclosure
- Professional standards
Sponsorship Open:
Interested parties please contact sheela@asiainsurancereview.com
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Insurance/Reinsurance Industry Contribution Award
'To the reinsurance company that has provided the
greatest level of value-added range of services to
cedants, local regulators and the local industry’
Criteria
- In-depth knowledge and understanding of the market
- Responsiveness to the needs of the market with examples of working with local regular or local trade association
- Helping market in seeking growth opportunities, product innovation and servicing market
- Provide value-added service to the industry
- Bposting standards and professionalism in the market
- Sound financial management and provision of information
Sponsored by:

Munich Re Group is the proud sponsor of the ' Insurance/Reinsurance Contribution to the Industry' award, which was launched in 2005 to coincide with Munich Re's 125th anniversary.
Munich Re operates worldwide, turning risk into value. The Group - characterised by diversification, client focus and earnings stability - has around 38,600 employees in over 50 locations worldwide. We achieved a profit of €3.9bln in 2007, the highest since the company was founded in 1880. The premium income was over €37bn.
From reinsurance alone we achieved a premium income of around €21.5bn, which makes us one of the world's leading reinsurers. Our objective is sustained profitable growth. In the ERGO Insurance Group we combine our main primary insurance operations. ERGO is the market leader in Europe in health and legal expenses insurance. Munich Re’s global investments stand at €176bn and are overseen by the group’s asset management arm, MEAG. They also make their competence available to private and institutional investors outside the Group.
Munich Re's Asian operations, including Australia, achieved a premium income of more than €2bn in 2007. We have operated in Asia for more than 90 years and continue to show commitment to the region through organic growth, joint ventures and acquisitions.
For more information visit www.munichre.com
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Corporate Social Responsibility Award
'Open to members of the insurance industry in Asia who have
committed real resource to achieve significant and sustainable
benefit to the community in social, economic and/or environmental
arenas, through a non-profit driven venture’
Criteria
- Outstanding values/benefits of the contribution for the community
- Key examples of work from the project with details on motivation, capital resource, staff commitment
- Socially responsible leadership in the market
- Innovation
- True ‘grassroots’ engagement with the community
- Evidence of the community’s support/appreciation for the venture
Sponsored by:

Swiss Re is a leading and highly diversified global reinsurer. Founded in 1863 in Zurich, Swiss Re conducts business through offices in more than 25 countries with over 10,000 employees, providing financial services and products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management.
In 2007, Swiss Re reported a record net income of CHF 4.2 billion and a return on equity of 13.5%, reflecting excellent performance across all businesses.
Swiss Re has been associated with Asia since 1913 and today, has more than 900 employees in offices in Seoul, Tokyo, Beijing, Shanghai, Taipei, Hong Kong, Kuala Lumpur, Singapore, Sydney, Mumbai and Bangalore, where Swiss Re operates a health insurance consulting company and a global BPO centre. Swiss Re also provides third party administration services through its JV, TTK Healthcare Services in India, and wholly owned consulting company, Prestige Health in China. It is also in a strategic partnership with Vina Re, Vietnam’s leading reinsurance provider.
Swiss Re was among the first foreign reinsurers to enter China after the country joined the WTO. The company’s Asia Division headquarters is in Hong Kong.
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Personality of the Year
'To the person who has made the most outstanding individual contribution to the Asian insurance or reinsurance industry’’
Criteria
- Outstanding leadership qualities
- Superior communication skills
- Advocacy on behalf of industry to the market, broader community and/or government to enhance industry’s image and reputation of the industry
- In-depth knowledge and understanding of the market
- Engagement and effective management
- Innovation
- Influence on the development of insurance/reinsurance practice to enhance stability and growth in the market
Professional standards
Sponsored by:

ReMark has been providing end-to-end marketing, product, technology and financing solutions to banks, insurers and affinity groups since 1985.
Our direct operational experience in 44 countries and 21 languages has earned us global leadership status in direct distribution of insurance products.
A worldwide team consisting of 170 marketing specialists, actuaries and campaign and channel managers, all work with one focus: maximum value creation for our partners and clients. Together they design and execute direct marketing programmes that establish and drive brand loyalty, increasing the lifetime value and profitability of each customer.
Whether acquiring new customers, retaining existing ones, generating leads or cross-selling to your customer base we can help maximise your return on investment.
• Over 23 years experience as a marketing partner to over 200 world leading financial institutions
• 48,000 programmes implemented in 44 countries
• Over 9 million insurance policies written worldwide generating business value in excess of € 1 billion
• 510,000,000 customers reached via multiple channels with focus on mail, telephone and digital media (internet, DRTV and m-commerce)
• Multiple marketing domain experience including bancassurance, life and non-life insurance policyholders, takaful banking & insurance, and affinity partnerships
For more information visit www.remarkgroup.com
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Cocktail Sponsor

A.M. Best is the leading provider of insurer ratings, news and financial information on the global insurance industry.
From our offices in Asia, Europe and the United States, A.M. Best reports on more than 12,000 insurers in over 65 countries, issuing more than 5,000 ratings. The analytic team at A.M. Best Asia-Pacific, headquartered in Hong Kong, have extensive experience and knowledge of global and local insurance and reinsurance markets. They currently issue ratings on over 70 companies across the region.
Since its establishment in the United States over 100 years ago, A.M. Best has remained the most authoritative source of insurance ratings and information worldwide.
Best’s Ratings continue to be recognised as the global benchmark for the assessment of the financial strength and operating performance of insurance companies. Viewed as indispensable for (re)insurance buying, research and decision-making, Best’s Ratings are used by insurance agents and brokers, risk managers, investment bankers, institutional and public investors, insurance executives, and policyholders around the world.
A.M. Best assigns ratings to insurance and reinsurance companies as well as other risk-bearing entities and facilities, including captive insurers, catastrophe bonds, insurance-linked securities and banks. All our ratings are independent opinions based on comprehensive quantitative and qualitative evaluations of a company’s balance sheet strength, operating performance and business profile. A.M. Best assigns three types of rating:
Best’s Financial Strength Ratings -- provide an opinion of an insurer’s financial strength and ability to meet on-going obligations to policyholders.
Best’s Issuer Credit Ratings -- provide an opinion of an entity’s ability to meet its senior obligations.
Best’s Debt Ratings -- provide an opinion for the credit marketplace as to the issuer’s ability to meet its financial obligations to security holders when due.
For more information please contact Winnie Wong at +(852) 2827 3401
The Global Symbol of Financial Strength
www.ambest.com.
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