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International Insurance Company

iic_ojsc

“International Insurance Company” Open Joint Stock Company was incorporated in the Republic of Azerbaijan on February 5, 2002. The Company is licensed to perform the total of 33 types of insurance activities by the Ministry of Finance of the Republic of Azerbaijan.

Through IIC's 3 branches and IBA's 37 branches & 39 sub-branches, the Company provides its insurance services all over the Azerbaijan Republic.

The Company’s businesses comprise:

  • direct insurance;
  • reinsurance;
  • investment (bank deposit placement).

The Company is involved in the following directions of direct insurance and reinsurance: property, means of transport and transportation, liabilities, personal accident and sickness (medical) insurance, financial and other ones. Due to deposits placement to local banks, the Company gains both from deposit interest rate and got insurance business from the local banks.

IIC, one of the largest insurance companies of the Azerbaijan Republic, gained the prestige among its clients, both legal entities and individuals, providing them with a reliable coverage. In order to achieve this, IIC has adopted an individual approach to its clients by developing the insurance products that perfectly satisfy their needs as a basis of its activity. IIC’s advantages include not only quality and wide range of services, but also flexible pricing policy. There are currently 28 insurance companies operating in the Azerbaijan Republic. As per the official statistic, in 2012 “International Insurance Company” OJSC had 4.32 % of Azerbaijan market share. In 2012, the Company gained about AZN 15 million from 342 million of all market turnover and the Company took eighth place among all the insurance companies. The Company also offers its clients new insurance products and services on a regular basis in order to increase its market share.

The ISO 9001-2008 Quality Management Certificate (QMC) conferred on IIC is another important factor proving the compliance of the Company's management and operation system with international standards. Fulfillment of liabilities to its partners and clients is based on a wide profile of the company's insurance services, significant insurance funds, actual operational experience, and professional staff. Excellence and professionalism of IIC employees give the Company leadership efficiently preparing and rendering its services. Owing to the activity of the personnel consisting of highly trained and certified insurance experts and managers fluent in several foreign languages, IIC, being supported by the world's leading insurance and broker companies, has currently gained an access to foreign insurance market.

“International Insurance Company” was assigned a B3 insurance financial strength rating by Moody's Investors Service in September 2011. The current external auditor of IIC is the representative of Big 4 of audit companies as Deloitte & Touche.

One of the challenges for IIC is to offer the insurance coverage in accordance with the international standards and with an allowance for domestic market realities. The Company places a special emphasis on the increase of the level of people's awareness about insurance in the country. With that end in view, IIC regularly publishes articles on popular Internet pages and other mass media.

Company website: www.iic.az

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