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Global Finance Magazine names the Best Global Insurers 2013

Global Finance today announced the winners of its 2013 Best Global Insurers awards — and Bermuda has featured heavily in the findings.

The publication said they drew on responses from more than 1,200 readers around the world, as well as input from a panel of 13 prominent risk management and financial executives at major companies headquartered in each geographic region of the world.

In the global category, AIG, whose Bermuda affiliation goes back to the earliest days of international insurance, was selected as the best overall insurer, as well as the best insurer for property, environmental liability, directors & officers liability, employment practices liability, and cyber risk.

Allianz, who can be found on Pitts Bay Road, won as best global casualty insurer, as well as for trade credit (Euler Hermes) and crime/fidelity.

Aon, a second Bermuda legacy company, won as the best global insurance broker.

Lloyd’s was selected as best global political risk insurer, kidnap and ransom, and supply chain/trade disruption.

Joseph D. Giarraputo, President and publisher, Global Finance, said: “As they operate in an increasingly complex and competitive environment, businesses in all parts of the world must find ways to address larger and more challenging exposures. Meanwhile, insurance companies must continually assess their own risk portfolios to maintain their financial security as they develop solutions to help clients address emerging exposures.

“The survey findings offer insights that may be useful to readers as they make critical choices about their risk management strategies and providers. We congratulate this year’s winners and thank our survey participants and panellists for their assistance.”

The survey focused exclusively on property and casualty insurance lines and did not address life and health insurance issues. In addition to the global winners, the magazine recognised top insurers by coverage line and best overall brokers in seven regions of the world, including US/Canada, Europe, Central/Eastern Europe, Latin America/Caribbean, Asia/Pacific, the Middle East, and Africa. Global and regional winners are listed below.

The global list

Best overall global insurer: AIG

Best global insurance broker: Aon

Best global casualty insurer: Allianz

Best global property insurer: AIG

Best global environmental liability insurer: AIG

Best global political risk insurer: Lloyd’s

Best global trade credit insurer: Euler Hermes

Best global kidnap & ransom insurer: Lloyd’s

Best global D&O insurer: AIG

Best global employment practices liability insurer: AIG

Best global cyberrisk insurer: AIG

Best global crime/fidelity insurer: Allianz

Best global supply chain/trade disruption insurer: Lloyd’s