Azerbaijan, Baku / Trend / On 4 October, Moody's Investors Service has announced that it was assigned a first-time global scale insurance financial strength rating (IFSR) of B1 to the insurance company Standard Insurance, based in Baku, Azerbaijan.
While Standard Insurance is still a young company it has rapidly become a major player in the Azerbaijani insurance market, with a leading position in the retail segment, in primarily motor insurance which generates most of its underwriting profit, Moody's Investors Service statement mentioned.
The Standard Insurance company, which belongs to the AB Standard Group, was established in February 2002. For the second time, Standard Insurance demonstrated a record rate of growth and joined the ten largest insurance companies of Azerbaijan.