Island-based Bacardi has won a place on a list of the most reputable companies in the world.

The company rose eight places to 84th in the annual Global Rep Trak 100 ratings from the Reputation Institute — the fifth consecutive time family-owned Bacardi has featured in the poll.

Mike Dolan, chief executive officer of Bacardi, said: “Making this prestigious global list for the fifth time in a row and moving up ever higher since our first appearance demonstrates that our efforts to continuously evolve our business and connect with today’s consumers in new and more relevant ways are making a difference.”

He added: “I want to especially thank our team around the world for their passion and dedication as we work hard to make Bacardi the envy of our industry.”

Bacardi, the largest privately-owned spirits company in the world, has been based in Bermuda for more than 50 years.

The Global Rep Trak survey was based on more than 170,000 ratings collected in the first quarter of the year and it is the largest corporate reputation study of its kind.

The poll includes comparative ratings, trends by demographics and insights into which companies are best regarded by consumers, as well as analysis of what creates trust and support of brands.

The Forbes-published Global Rep Trak covers multinational companies with operations in 15 countries around the world, looking at seven criteria, including products and services, innovation, workplace, governance, citizenship, leadership and performance.

The Reputation Institute assigns each company a score based on a variety of factors.

Allen Bonde, chief marketing officer of the Reputation Institute, said: “Looking at these top performers, it’s clear that offering high-quality products, standing behind them and meeting customer needs is foundational to delivering on the brand promise.

“But our data also shows that companies with a strong sense of purpose who are committed to improving on all dimensions of reputation — especially governance and citizenship — tend to be the most highly regarded.”

Michele Tesoro-Tess, Reputation Institute executive partner, added: “This year’s top 100 come from different sectors — reputation is a cross-industry asset and companies continually invest in it because their leaderships finally recognised its impact on business performances.”