The bomb exploded in the Mansur area of west Baghdad about 9:00 am (0600 GMT), killing four people and wounding nine, an interior ministry official said.
A medical source from Al-Yarmuk hospital confirmed the facility had received four bodies, but put the number of wounded at 14.
It was not immediately clear whether the casualties were bystanders, people travelling the convoy, or both. Neither official gave details on the name of the security company.