“Standard Insurance”- one of the major company of AB Standard Group of Companies was founded in February 2002. The Company began its activity with an authorized stock capital of AZN 600 000 whereas by now the figure has been increased up to AZN 8 mln. After latest increase of the authorized capital, “Standard Insurance” became the company with highest authorized capital among Azerbaijan insurance companies.
In 2005 “Standard Insurance” with the assistance of Quadra Company has initiated activities related to certification on ISO 9001:2000 standards. Upon completion of the preparatory period Moody International Certification Company conducted an external audit to verify Standard Insurance’s compliance with the quality management system as a result of which the latter received an international quality certificate of ISO 9001-2000.
Another indicator of successful performance of the insurance company was its registration in the Security List or “List of realiable companies” by AON – a major broker of Lloyds. This is the first time an Azerbaijani company was registered in the Security List of Lloyds brokers and the second time the company met the international criteria of compliance with world standards.
“Standard Insurance”company already retains a leading position among Azerbaijani insurers, meanwhile remaining most quickly-growing insurance company of Azerbaijan.
In 2006 the growth of “Standard Insurance” substantially exceeded the general growth rate of the local insurance market. According to statistics amount of premium collected by the Company during last year equals to US$9.59m, which exceeds similar indicators of 2005 by 36%. In comparison, the growth of insurance sector of the National economy in 2006 did not exceed 7%.
On the other hand it is worth to mention a high yield of the Company’s activity. According to the summary of 2006 “Standard Insurance” is one of the leading companies in Azerbaijan by income ratio.
In 2007 the company changed his legal status to become thus an open joint-stock company. One of the major achievements of this year is an assignment of an insurance financial strength rating of B1 by Moody’s Investors Service. “Standard Insurance” is the fist company in Azerbaijani private financial sector honored with an international rating of that level.

Today the Company offers 4 obligatory and 24 voluntary types of insurance.

Our Mission
- Delivery of high-quality services

Our Targets
- To conquer clients’ confidence and be recognized as a first-choice insurance company

Our Guidelines
- integrity
- promptness
- giving priorty to clients’ needs
- providing quality service conforming to world standards
- service of quality
- continuous improvement and growth

Our Reinsurers
We collaborate with world-famous reinsurance companies such as:

• Hannover Re
• Polish Re
• Partner Re
• SCOR
• Converium
• GenRe
• Allianz
• ACE
• Lloyd’s syndicates
• ROSNO

The success of “Standard Insurance” has several summands. First of all, it is necessary to mention considered management and highly-professional team of “Standard Insurance”. Furthermore, permanent forestall of the market development tendencies as well as retain of the breakaway from the main group of insurers both in capacity and quality is another active stimulating factor of the Company.