Singapore, 1 November 2011 – The MS&AD Insurance Group (MS&AD) was named the ‘General Insurance Company of the Year’ at the 2011 Asia Insurance Industry Awards, in recognition of its professional standards, quality of service provided to customers throughout the Asian region, and solid financial performance.
MSIG Holdings (Asia) Pte Ltd (MSIG), a member of the MS&AD Insurance Group, received the award on the Group’s behalf at a ceremony held in Singapore.
The annual awards were jointly organised by Asia Insurance Review and The Review Worldwide Reinsurance magazines.
Receiving the award, Mr. Atsushi Yagi, Chairman of MSIG Holdings (Asia) Pte Ltd, commented on the Group’s success, “We are delighted to be recognised as the General Insurance Company of the year. Credit for this award goes to all employees of the Group, who have been dedicated to improving our overall customer service, product quality, efficiency, and delivery capabilities. Our financial strength stems from their collective efforts in executing our strategy, for which the management team are grateful.
This award is an honour as it is the highest recognition of our Group’s commitment to the general insurance business in Asia. MS&AD will continue to build on our existing network in Asia to deliver world-class products and services to our customers throughout Asia, with the region playing a pivotal role in shaping the future and growth of the world’s economy as well as the insurance industry.”
In addition to this year’s award, MSIG received the ‘Corporate Social Responsibility Award’ at the 2009 Asia Insurance Industry Awards. The award recognised MSIG’s social responsibility efforts at giving something back to the societies in the markets that the company operates in, which is consistent with the Group’s core business and values.
Using information submitted from a comprehensive range of criteria for this year’s ‘General Insurance Company of the Year’ award, the judging panel comprising international industry leaders, practitioners and regulators selected the winner based on:
- In-depth knowledge and understanding of the market;
- Responsiveness to customers’ needs;
- Industry leadership as shown through innovation in products, provision of best quality service, strong underwriting discipline, exemplary employer practices, claims management, business growth, as well as contribution to boosting the industry’s image;
- Sound financial management and transparency of accounts and processes;
- Setting professional standards.
