Life Insurance Corporation (International) was voted as the winner of the MEIF Institutional Excellence Award from a short-list of nominees through a unique industry-based voting system.

The achievements, innovations and excellence in the regional insurance industry were recognised last night at MEIF 2012 award ceremony at the Gulf Hotel.

The annual MEIF Institutional Excellence Award, which is one of the most prestigious in the industry, recognises institutions that have made a significant contribution to the regional insurance industry.

LIC's nomination for the award was based on its ability to develop superior and innovative products and services, create a strong business position in the regional insurance market, responsiveness to the complex needs of its customers and its robust financial performance.

Central Bank of Bahrain executive director of financial institutions' supervision Abdul Rahman Al Baker presented the award to LIC chief executive and managing director R Thamodharan, at a high-profile gala dinner and award ceremony.

"We are extremely delighted to receive the MEIF Institutional Excellence Award 2012," said Thamodharan.

"To receive this award, which is considered one of the most prestigious in the regional insurance industry, is indeed a great honour. This award is a recognition of our commitment and dedication to excellence," he added.-TradeArabia News Service