International Insurance Company, based in Baku, Azerbaijan, was recently awarded the "Best Insurance Company in 2013" award by Britain's International Finance Magazine.

"It is gratifying that International Insurance Company is the first insurance company receiving this award in Azerbaijan," Chief of the Board of Directors of the company M. Mammadov said. "It is the result of IIC working in the direction of providing high quality insurance services and improving work practices, management methods and the service level of the company, demonstrating its financial stability and competitive superiority."

Six financial institutions in Azerbaijan received awards from the magazine, but IIC was the only insurance company.

International Insurance Company was founded by the International Bank of Azerbaijan in 2002 and currently provides 33 different insurance products to both individuals and legal entities.