Arthur J. Gallagher & Co. has been recognized as one of the 2013 World's Most Ethical Companies by the Ethisphere Institute.

New York-based Ethisphere is an international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. According to Ethisphere, the World's Most Ethical Companies designation “recognizes companies that truly go beyond making statements about doing business 'ethically' and translate those words into action. WME honorees not only promote ethical business standards and practices internally, they exceed legal compliance minimums and shape future industry standards by introducing best practices today.”

“We've always focused on running our business with integrity and strong ethical values,” said Gallagher President, Chairman and CEO J. Patrick Gallagher Jr. in a statement issued Friday. “This award is a testament to our nearly 14,000 employees worldwide, who understand the central role integrity plays at Gallagher. It is a tremendous honor to once again be recognized as one of the World's Most Ethical Companies.”

“A strong ethical foundation is a competitive advantage, and Arthur J. Gallagher & Co. recognizes the important role corporate responsibility plays in improving its bottom line,” said Alex Brigham, executive director of the Ethisphere Institute. “As more and more organizations strive for this honor each year, Gallagher's inclusion as a World's Most Ethical Company for 2013 demonstrates its industry-leading commitment to ethics and dedication to integrity.”

This was the second year in a row that Itasca, Ill.-based Gallagher received the designation, and was the only property/casualty insurance brokerage to be so recognized this year among the 145 companies that received the designation.

Property/casualty underwriters recognized this year were CUNA Mutual Group, Sompo Japan Insurance Inc., Swiss Re Ltd. and Progressive Group of Insurance Cos.

Health insurance organizations recognized were Aflac Inc., Blue Cross Blue Shield of North Carolina, Blue Shield of California, CareFirst BlueCross Blue Shield and Wisconsin Physicians Service Insurance Corp.