Kalpana Kalpana (Editor)

International Insurance Company

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Revenue
  
17.18 million AZN

Headquarters
  
Baku

Net income
  
574.7 AZN

Founded
  
2002

International Insurance Company

Native name
  
Beynəlxalq Sığorta Şirkətinin

Industry
  
Financial services and insurance

Key people
  
Sultanov Jamil - Chairman of the Board of Directors Jalil Nihad - Head of the Executive Office

Products
  
Accident insurance Air transport insurance Car insurance Cargo insurance Construction insurance Liability insurance Machinery insurance Marine insurance Property insurance Travel insurance

Parent organization
  
International Bank of Azerbaijan

International Insurance Company (Azerbaijani: Beynəlxalq Sığorta Şirkətinin) ("ICC") is an insurance company based in Baku, Azerbaijan. In the Azerbaijani language, it is called Beynəlxalq Sığorta Şirkətinin. The company was founded by the International Bank of Azerbaijan.

Contents

In the fall of 2013, the company received the “Best Insurance Company in 2013″ award from International Finance Magazine. ICC was the only insurance industry company in Azerbaijan to receive the award.

Products

The company provides 34 types of insurance products.

Individual insurance services:

  • Accident
  • Car
  • Property
  • Travel
  • Business insurance services:

  • Accident
  • Air transport
  • Cargo
  • Construction
  • Liability
  • Machinery
  • Marine
  • Property
  • Vehicle
  • Market

  • As of February 2013, the company ranked sixth in Azerbaijan in volume of claims paid.
  • Approximately 65% of the company’s business is related to health insurance.
  • Financial Performance

    Financials (2012):

  • Aggregate capital: 8.87 million
  • Aggregate liabilities: 13.33 million
  • Assets: AZN 22.2 million
  • Expenses: 16.44 million
  • Net profit: 574.7
  • Revenue: 17.18 million
  • Utilized authorized capital: 8.8 million
  • As of July 2012, the company’s overall capital amounted to AZN 5.5 million.

    In 2009, the company was rated by Moody’s Investors Service and scored a “B2 (outlook: stable)” in the insurance company financial strength category.

    People

    Management:

  • Sultanov Jamil - Chairman of the Board of Directors
  • Jalil Nihad - Head of the Executive Office
  • Location

    ICC’s headquarters is located at J. Jabbarly str., 40C, Baku, Azerbaijan 1065

    Affiliations

    In July 2013, the company became a member of the Association of Risk Professionals of Azerbaijan.

    History

  • The company was founded in 2002.
  • One of the company’s first medical insurance contracts was with the Central Clinical Hospital in Azerbaijan in 2003. ICC had offered four different coverage levels.
  • References

    International Insurance Company Wikipedia