June 2010 - Euromoney, the leading journal for international financial markets, announced the winners of its annual Insurance Survey. Pioneer Group was named Best Insurer in the Philippines, a citation it won last year. In addition to winning the award two years in a row, Pioneer also emerged as this year's Best Insurer in Asia.
In addition, the Group also won two sub-awards, namely Best Insurer - General Property & Casualty in Asia and Best Insurer - Employer Liability in Asia. The Employer Liability category pertains to insurance a company takes out to cover the health and safety of their workforce, to protect against injury and illness compensation.
Euromoney is a magazine that has been around since 1969, when it was created to cover the re-emergence of the international cross-border capital markets. Since then it has become the preeminent journal of the international finance community, read by over 140,000 financial industry professionals every month. Annually, Euromoney conducts polls and gives out awards such as Best Managed Companies in Asia, Finance Minister of the Year, and the Awards of Excellence which honor institutions that have brought the highest levels of services, innovation and expertise to their customers. Aside from its annual Insurance Survey, the magazine also conducts a Private Banking Survey.
The respondents of its Insurance Survey are the direct buyers of insurance at major companies worldwide, mostly risk managers and including CFOs, insurance managers, heads of treasury and vice presidents. Last year, 400 respondents sent in their votes. This year, Euromoney received 496 responses from over 50 countries.
Pioneer is a group of companies that was established in 1954. Its two main arms are Pioneer Insurance and Pioneer Life, handling the non-life and life businesses respectively. Pioneer has an extensive network around the Philippines with 34 branches. With an office in Hong Kong, Pioneer Insurance remains the only Philippine non-life company actively writing business in China's Special Administrative Region.
“The award is a result of the efforts of all at Pioneer,” Pioneer Insurance President and CEO David Coyukiat said. Lorenzo Chan, President and CEO of Pioneer Life, sees the award as an external affirmation of the team's efforts to build one Pioneer, a company with a heart that offers several solutions to an array of needs. “It can be such a pleasing recognition yet we must look upon these awards as both an acknowledgement of what has been done as well as the many challenges that still remain to be conquered,” he stressed. Pioneer Shared Services COO Candy Blaylock joined the two CEOs in thanking all stakeholders for making these awards possible.
