The Ethisphere Institute, an independent center of researchpromoting best practices in corporate ethics and compliance,announced the 2014 World's Most Ethical Companies. Included on thelist from the property and casualty insurance industry are TheHartford and Sompo Japan, Swiss Re (the only reinsurer named on thelist) and Arthur J. Gallagher (the only brokerage).

The World's Most Ethical Company assessment is based upon theEthisphere Institute's Ethics Quotient framework, which collects acomprehensive sampling of definitive date in core competencies.Scores are generated in five key categories: ethics and complianceprogram (which makes up 25% of the company's score), reputation,leadership and innovation (20%), governance (10%), corporatecitizenship and responsibility (25%), and culture of ethics(20%).

According to Ethisphere, the World's Most Ethical Companyhonorees lead their industries in compliance, corporate governanceand social responsibility, and effectively align ethical businesspractices with performance and shape future industry ethicalbusiness standards.

“In today's complex global economy, it can be increasinglychallenging for companies to meet performance expectations, whileaddressing the varying regulatory, compliance, and sustainabilityneeds across geographies and cultures,” says Timothy Erblich, CEOof the Ethisphere Institute. “This year's honorees understand thatoutstanding compliance programs, investment in a corporate cultureof integrity, and sound business ethics have key roles inattracting and retaining talent, expanding business globally anddriving financial performance.”

This year's 144 honorees represent 41 industries. In its eighthyear of recognizing companies, Ethisphere is honoring the largestgroup of organizations based outside the U.S.—38 organizations from21 countries and five continents.

Click “next” to read more about the P&C industry's mostethical companies.

The fulllist of the 2014 World's Most Ethical Companies can be foundHERE.

Insurance: Brokerage

Arthur J. Gallagher & Co.

“This is the third year in a row that Gallagher has been honoredwith this award, which reflects how we focus on conducting ourbusiness with integrity and strong ethical values,” says J. PatrickGallagher, Jr., president and CEO. “This award is also a testamentto our nearly 16,500 employees worldwide, who understand thecentral role integrity plays at Gallagher.”

Ethisphere's Erblich says, “The entire community of World's MostEthical Companies believe that customers, employees, investors andregulators place a high premium on trust and that ethics and goodgovernance are key in earning it. Arthur J. Gallagher & Co.joins an exclusive community committed to driving performancethrough leading business practices.”

Insurance: General

The Hartford Financial Services Group

“Receiving this award for the sixth time demonstrates ourcontinued commitment to upholding the highest level of ethics toour employees, customers, business partners, neighbors andinvestors,” says Alan Kreczko, executive vice president and generalcounsel at The Hartford.

According to a statement about the award, The Hartford says itsculture is built on a foundation of ethical decision making, backedby a strong ethics and compliance program that emphasizesleadership accountability and proactively preventingcompliance-related issues.

Insurance: Property And Casualty

Sompo Japan Insurance Inc.

“Based on our methodology, Sompo Japan's scores indicate astrong compliance program and a focus on creating and maintainingan ethical culture,” says ‎Michael Byrne, SVP of Thought Leadership& General Counsel at Ethisphere. “We were also impressed withtheir strong CSR program and environmental initiatives.”

Insurance: Reinsurance

Swiss Re

“Swiss Re stood out for its focus on environmentalsustainability practices,” says Byrne. “There are numerous examplesof how Swiss Re and its employees are engaging in actions tosustain the environment, including such efforts as forest and treeplantation management.”