Reason Mag Q1 2014 Seite 35

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WWith 50 insurance policies issued in 75 countries and an intricate network of pro duction facilities subsidiaries transportation and warehousing sites customers and suppliers around the world the consumer products giant Philip Morris International PMI is a formidable entity one that certainly poses a complex challenge from a property insurance perspective But thanks to a detailed approach to risk effective communication among risk management brokerage and client service teams and an agile global brokerage and insurance services network it s indeed a welcome challenge The operations center of Philip Morris International sits quietly on a hill a stone s throw from the edge of Lake Geneva Switzerland The building modern geometric and constructed largely of glass climbs diagonally up a gentle embank ment in such a way that the bulk of the building hides behind its street entrance Employees enjoy picture perfect views of a crystal clear alpine lake encircled by jagged snow capped mountains A New York based underwriting account PMI was spun off as an independent company from its parent Altria in 2008 But its recent history successful as it is is a small chapter in the long and legendary story of a cultural icon a story that goes back to 1847 when one Mr Philip Morris opened a single shop on London s Bond Street selling tobacco and ready made cigarettes In time Philip Morris International oversees the manufacturing and marketing of seven of the world s 15 top international tobacco brands jump starting decades of commercial success In 2012 PMI held an estimated 16 3 percent share of the total international market outside of the United States It was also the fth consecu tive year that PMI met or exceeded its mid to long term diluted earnings per share growth target of 10 12 percent This consistent level of double digit growth puts PMI in an enviable place at the forefront of nearly all major global consumer prod ucts companies ISSUE 1 2014 Reason 35