International Insurance Company

International Insurance Company Limited Liability

Native name

| Beynəlxalq Sığorta Şirkətinin[1]

|

Industry| Financial services and insurance
Founded| 2002
Headquarters|

Baku

Azerbaijan

Key people

| Sultanov Jamil - Chairman of the Board of Directors[2]
Jalil Nihad - Head of the Executive Office[2]
Products| Accident insurance

Air transport insurance
Car insurance
Cargo insurance
Construction insurance
Liability insurance
Machinery insurance
Marine insurance
Property insurance

Travel insurance
Revenue| 17.18 million AZN[3]

Net income

| 574.7 AZN[3]
Parent| International Bank of Azerbaijan

International Insurance Company (Azerbaijani: Beynəlxalq Sığorta Şirkətinin) ("ICC") is an insurance company based in Baku, Azerbaijan.[4] In the Azerbaijani language, it is called Beynəlxalq Sığorta Şirkətinin.[1] The company was founded by the International Bank of Azerbaijan.[5]

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.[6]

## Company Overview

[edit]

### Products

[edit]

The company provides 34 types of insurance products.[7]

Individual insurance services:[5]

* Accident
* Car
* Property
* Travel

Business insurance services:[5]

* Accident
* Air transport
* Cargo
* Construction
* Liability
* Machinery
* Marine
* Property
* Vehicle

### Market

[edit]

Financial market participants

Organisations

* Credit unions
* Development finance institution
* Insurance companies
* Investment banks
* Investment funds
* Pension funds
* Prime brokers
* Trusts

Terms

* Angel investor
* Bull (stock market speculator)
* Finance
* Financial market
* Participants
* Corporate finance
* Personal finance
* Public finance
* Banks and banking
* Financial analyst
* Financial planner
* Financial regulation
* Fund governance
* Stock Market
* Super angel

* As of February 2013, the company ranked sixth in Azerbaijan in volume of claims paid.[8]
* Approximately 65% of the company’s business is related to health insurance.[8]

### Financial Performance

[edit]

Financials (2012):[3]

* 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.[9]

In 2009, the company was rated by Moody’s Investors Service and scored a “B2 (outlook: stable)” in the insurance company financial strength category.[10]

## Present

[edit]

### People

[edit]

Management:[2]

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

### Location

[edit]

ICC’s headquarters is located at J. Jabbarly str., 40C, Baku, Azerbaijan 1065[4]

### Affiliations

[edit]

In July 2013, the company became a member of the Association of Risk Professionals of Azerbaijan.[11]

## Past

[edit]

### History

[edit]

* The company was founded in 2002.[4]
* 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.[12]

## See also

[edit]

* Azerbaijan
* Insurance
* International Bank of Azerbaijan

## External links

[edit]

* ICC (Azerbaijani) site Archived 2013-08-10 at the Wayback Machine
* ICC (English) site
* ICC (Russian) site Archived 2013-09-19 at the Wayback Machine

## References

[edit]

1. ^ a b Missiya, International Insurance Company website (Azerbaijani language version) (Retrieved August 21, 2013)
2. ^ a b c Management Archived 2013-04-26 at the Wayback Machine, International Insurance Company website (Retrieved August 21, 2013)
3. ^ a b c A. Akhundov, "International Insurance Company's assets grew almost by 12 percent", Trend Daily Economic News, April 1, 2013 (Retrieved via Nexis on August 21, 2013)
4. ^ a b c “Company Overview of International Insurance Company Limited Liability”, Bloomberg Businessweek (Retrieved August 21, 2013)
5. ^ a b c About the company Archived 2013-07-14 at the Wayback Machine, International Insurance Company website (Retrieved August 21, 2013)
6. ^ Douglas Waits, "International Insurance Company wins 2013 insurance company award", CISTran Finance, 10 Oct 2013. Retrieved 18 Dec 2013.
7. ^ "IIC Becomes Insurance Partner of ASAN Xidmet Centre", Economic News (Information Agency Oreanda), April 30, 2013 (Retrieved via Nexis on August 21, 2013)
8. ^ a b A. Akhundov, "Nearly 65 percent of Azerbaijan Insurance Company fees and payments are for health insurance", Trend News Agency, Baku, Azerbaijan (Distributed by McClatchy-Tribune Business News), February 20, 2013 (Retrieved via Nexis on August 21, 2013)
9. ^ "International Insurance Company applied for compulsory insurance permission in Azerbaijan" Archived 2013-08-21 at archive.today, ABC.Az, July 27, 2012. (Retrieved August 21, 2013)
10. ^ [URL "Moody's gives B2 rating to Azerbaijan's International Insurance Company"], News.Az, October 28, 2009. (Retrieved August 21, 2013)
11. ^ "IIC has become a corporate member of the Association of Risk Professionals", Turan Information Agency, July 26, 2013 (Retrieved via Nexis on August 21, 2013)
12. ^ Simon King, "Voluntary Medical Insurance Agreement Signed in Azerbaijan", IHS Global Insight, July 10, 2003 (Retrieved via Nexis on August 21, 2013)

* v
* t
* e

Insurance

Types of
insurance|

| Health|

* Accident
* Accidental death and dismemberment
* Dental
* Disability
* Total permanent disability
* Business overhead expense
* Income protection
* Long-term care
* National health
* Payment protection

|

Life|

* Longevity insurance
* Mortgage life
* Term life
* Unitised fund
* Universal life
* Variable universal life
* Whole life

Business|

* Bond
* Business interruption
* Business owner
* Collateral protection
* Directors and officers liability
* Fidelity
* Over-redemption
* Payment protection
* Pollution
* Professional liability
* Protection and indemnity
* Surety
* Trade credit
* Umbrella

Residential|

* Boiler
* Builder's risk
* Contents
* Earthquake
* Flood
* Home
* Landlords'
* Lenders mortgage
* Mortgage
* Property
* Renters'
* Title

Transport/
Communication|

* Aviation
* GAP insurance
* Inland marine
* Public auto
* Marine
* Satellite
* Shipping
* Travel
* Vehicle

Other|

* Reinsurance
* Catastrophe bond
* Insurance-linked securities
* Casualty
* Climate risk
* Crime
* Crop
* Catastrophic
* Multi-peril
* Cyber
* Deposit
* Expatriate
* Extended warranty
* Group
* Index-based
* Parametric
* Interest rate
* Kidnap and ransom
* Legal expenses
* Liability
* No-fault
* Pet
* Political risk
* Prize indemnity
* Takaful
* Terrorism
* Tuition
* War risk
* Weather
* Workers' compensation

Insurance
policy
and law|

* Act of God
* Actuarial science
* Actuary
* Adverse selection
* Risk
* Risk assessment
* Risk management
* Uncertainty/Knightian
* Value of life
* Actual cash value
* Cash value
* Broker
* Cancellation
* Pro rata
* Short rate table
* Claim
* Claims adjuster
* Deductible
* Co-insurance
* Copayment
* Out-of-pocket expense
* Explanation of benefits
* Force majeure
* General average
* Indemnity
* Insurability
* Insurable interest
* Insurance fraud
* Proximate cause
* Replacement value
* Risk pool
* Self-insurance
* Total loss
* Underinsurance
* Underwriting
* Profit

Insurance
by country|

* Australia
* China
* India
* Pakistan
* Serbia
* United Kingdom
* United States
* Climate change
* Health insurance
* Health insurance costs
* Health insurance coverage
* Vehicle insurance

History|

* Mesopotamian banker
* Code of Hammurabi
* §100–105; §126; §234; §235–238; §240; §275–277
* Collegium
* Burial society
* Guild
* Corpus Juris Civilis
* Digesta
* Syndicate
* Benefit/Friendly society
* Cooperative
* Cooperative banking
* Credit union
* Fraternal order
* Mutual organization
* Mutual savings bank
* Rochdale Principles
* Savings and loan association
* Social insurance
* Trade union
* Insurance cycle

* Category
* List of topics

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template