NewswireToday - /newswire/ -
Dubai, UAE, United Arab Emirates, 2007/04/10 - On April 2nd, at the recently held 2007 Middle East Insurance Awards in Dubai, Royal & SunAlliance Middle East won the ‘General Insurer of the Year 2006'. Royal & SunAlliance is the first foreign insurer to win this award.
This prestigious event, the only region-wide competition recognising excellence in all aspects of the insurance industry, sponsored by POLICY - a premier industry magazine across the Middle East. Royal & SunAlliance is the first foreign insurer to win this award.
Pat O’Flynn, Royal & SunAlliance Regional Director for the Middle East, said he was delighted with the result and commented: “This award is recognition of the successful profitable growth achieved last year, underpinned by a clear demonstration of our focus on sales and customer, technical excellence, operational effectiveness and people management. I am sure this award will provide the encouragement to our team to deliver against our plans, and position the Middle East as a major contributor to our Group’s growth and profits."
The ‘General Insurer of the Year’ was one of twelve categories of awards that recognised insurance industry initiatives and efforts in areas such as marketing, innovation, training, product development, corporate social responsibility and e-business.
The Royal & SunAlliance submission showcased the company’s significant contributions to the Middle East insurance industry in all of the above areas. Some of the highlights of the awards entry were the localisation efforts in recruitment (employment of local workforce), the drive towards an excellent corporate governance framework, industry leading innovations such as ‘fasterquote’, product innovations such as ‘One Stop Cargo’ and Pet Insurance, best practices around customer management and the importance given by the company to risk and claims management – two critical areas of the insurance business.
In addition, Royal & SunAlliance’s winning submission showed successful management of change and a proven ability to meet the demands of the market, regulators and government.
Paul Holmes, Royal & SunAlliance CEO for the UAE, commented: “This recognises our significant achievements throughout the Middle East. We have achieved this through excellent team work in a very challenging environment.”
The General Insurer title was one of two awards won by Royal & SunAlliance since the inception of the Middle East Insurance Awards, the first one being the e-business award for R&SA’s Middle East Broker Interface (MEBI).
Royal & SunAlliance, one of the world’s leading insurance groups, writes business in 130 countries, providing general insurance products to over 20 million customers worldwide. It is the second largest commercial lines insurer in the United Kingdom. It also has major operations in Scandinavia and Canada. It was the first British insurance company to be granted an operating license in China (in the year 1998). It is listed on LSE and is also a component of the FTSE 100 Index, as one of Britain’s 100 most valuable publicly-traded companies listed on the London Stock Exchange.
With its global 300th birthday in four years time, Royal & SunAlliance is recognised as the oldest general insurer still operating under its original name as it can trace its roots back to The Sun which opened for business in 1710.
Royal & SunAlliance Asia & Middle East Region is headquartered in Dubai. The insurer’s regional presence includes operations in China, India, Hong Kong, Singapore, Malaysia, United Arab Emirates, Oman, Saudi Arabia, Bahrain, Egypt and a regional office in Dubai.
Royal & SunAlliance celebrated its 50th anniversary in the UAE last year.