Allianz walks off with top honours

Two awards, both prestigious enough to
make any rival envious, have come Allianz’s way in quick
succession. On an international basis, Allianz has been honoured as
the world’s most ethical insurer, while in the world’s most
populous Muslim-majority country, Indonesia, it has been named as
the best Islamic (takaful) insurer.

The award as the most ethical insurer was bestowed on Allianz by
the Ethisphere Institute, an organisation described as a think-tank
dedicated to the research and promotion of profitable best
practices in global governance, business ethics, compliance and
corporate responsibility.

Presenting the award the Institute’s executive director, Alexander
Brigham said: “Allianz Group is among the companies honoured this
year because they have developed impressive and meaningful ethical
business practices, making them true standouts within their
industries. They go well beyond legal minimums, opting instead to
bring about innovative ideas that contribute to the public
well-being.

“By their actions, they are forcing their competitors to follow
suit or fall behind, and truly embody the notion that ethical
business practices are more profitable in the long run.”

To arrive at its selection of 100 finalists the institute
researchers reviewed over 10,000 companies on six continents. Under
review were factors such as codes of ethics, litigation and
regulatory infraction histories, investment in innovation and
sustainable business practices, and activities to improve corporate
citizenship. Methodology for the analysis was set out by a
committee that included leading attorneys and government officials
and professors.

In Indonesia, home to 204 million Muslims, Allianz Life Indonesia’s
(ALI) takaful unit Allianz Life Sharia (ALS) received the award for
best Islamic insurer from Karim Business Consulting, an Indonesian
takaful business consultancy. ALS received highest marks in three
of six categories and an overall score of 984 out of 1,000.

Established in April 2006, ALS is profitable and “exceeding all
targets,” said ALI takaful business head Kiswati
Soeryoko.