The International Bank of Azerbaijan (IBA) said its subsidiary International Insurance Company (IIC) was named the country's top insurer on Monday.

IIC representatives accepted the honor at the Consulting & Business Magazine awards event held at the Jumeirah Hotel in Baku.

The representatives cited the company's dedication to improving client experience, handling claims with efficiency and meeting and exceeding goals set by the company. They also cited their employees for striving to provide the best services that they can. Successful business practices and new management techniques allowed the company the financial security to be able to serve their commitments to clients, they said.

IIC offers insurance coverage in 32 categories, including accidents, travel, vehicle and property for individual and business clients. The company was founded in 2002 as a division under the IBA. It had also received recognition as the "Best Insurance Company" in 2013 from International Finance Magazine.