Aviva tops "most reputable" insurer ranking

Aviva has emerged as the UK’s most reputable financial services provider, according to a new survey of Britain’s top companies.

The composite is in 46th place in the latest UK RepTrak Pulse 2011 survey, published today by Reputation Institute, which assesses 195 UK plcs.

Aviva's nearest rival in reputation terms is Hiscox, which is just two places behind in the rankings.

Aviva and Hiscox plc increased their scores year on year by 6.5% and 3% respectively, reflecting their strong reputation amongst the British public.

In third and fourth places were Churchill and Amlin at 107th and 120th places respectively.

However, the insurance sector as a whole has slightly fallen by over 0.5% year on year.

Although ranking 125th overall, RSA Insurance Group plc was the strongest improver in the insurance sector on 2010 with its score increasing by more than four points or 7.0%.

According to the Reputation Institute, a five point increase in a company’s score equates to a 6.5% increase in consumer support.

Spencer Fox, managing director of Reputation Institute UK, said the study’s significance was particularly acute for insurance companies.

He said: “As disposable income shrinks in response to a tighter economic environment, insurance premiums are on the rise and the public will vote with their feet. A strong reputation will be vital for these companies in the short and long term. Our research demonstrates time and time again that companies with the highest reputational scores continue to enjoy supportive behaviours from customers and partners alike.”