AXA Gulf yesterday announced it has won the "Insurer of the year" award at the Mena Insurance Awards for the fifth consecutive year.

Apart from this, the company also walked away with "Personal lines insurer of the year award" - a recognition it has won for the second time, and "Bahrain insurer of the year" honours for the first time.

The awards were given away at The Address Downtown Dubai, reported the Gulf Daily News, our sister publication.

More than 300 guests from across Mena region, including decision-makers from leading Arab and international insurance and reinsurance companies, brokers and representatives from regulatory agencies as well as banks attended the event.

Awards across key categories were given away at the ceremony.

"The insurance industry has evolved over the years, and the need of the hour is to deliver the best insurance product customised to suit individual needs - be it any sector," AXA Gulf chief executive Jerome Droesch said.

"To win the prestigious "insurer of the year" honour for the fifth consecutive year is a testimony to our successful strategy and comprehensive product portfolio as well as our reputation to deliver consistent first-class services. In this fiercely competitive sector, this is indeed a great achievement for us."

"The honour in both "Personal Lines" and the "Bahrain Insurer of the Year" further reinforces our committed goal to become the preferred insurer across various markets and categories."

Similarly, the Bahrain award is a major impetus to growth plans in the evolving Bahrain insurance market, the company official said.

AXA Gulf chief officer for marketing and retail product offering Alexis de Beauregard said the awards were an endorsement of the company's world-class service and product offerings.

"Our business model is one of a true risk carrier, as we use our own capacity rather than rely on the support of external reinsurance and commitment to deliver excellence across various categories," he said.

AXA chief distribution officer Cedric Charpentier, who received the Bahrain Insurer of the Year award, said: "It is a great honour to be named the Bahrain Insurer of the Year for the first time, and a unique privilege since we are competing with some of the leading insurers in the region."-TradeArabia News Service