For having shown strong strength in the discharge of its operations, meeting its claims obligation to its numerous customers, International Energy Insurance (IEI) Plc has been awarded the West African most Reliable Insurance Company of the year 2010.

The annual award, which is second in the series, singled out IEI as one unique company that has despite the challenges of last year, remained committed to its promises, sustaining high level consumer confidence.

Organizers of the award, Institute of Brand Management of Nigeria (IBMN) looked at different criteria for the award including efficiency in service delivery, growth in size in the last one year, branch spread, balance sheet, low level of bad dept, growth in staff strength, use of technology, time base brand experience and credible corporate governance practice.

IEI, classified in the financial services category which includes banks, insurance, pension fund administrators, micro-finance banks, stock brokers, assets and investment management companies, emerged most reliable firm.

Two other insurance companies - Sovereign Trust Insurance Plc  and Mutual Benefits Insurance Plc - bagged best service company and best technology company, respectively.

Receiving the award on behalf of IEI, Roseline Ekeng, Chief Operating Officer, who led the management team, expressed joy over the award, stating that it has given the company encouragement to continue to do its best.

Ekeng said IEI takes the issue of claims settlement very seriously, ensuring that its customers are rescued at that critical point of their need through prompt payment of their claims.

She added that insurance was the best security every business needed as it could go a long way in providing that protection during the rainy day.

The patron of IBMN, Soronadi Nwabueze Ezebuiro, said the West African Branding Excellence Award was conferred on few individuals in the region who have made positive impacts on the lives of West African consumers.