S&P Confirms Global Ratings Of IGI Holdings
International General Insurance Holdings Ltd. [IGI] announced that S&P Global Ratings has confirmed its financial strength ratings at A- with a Stable outlook.
The ratings apply to IGI’s two subsidiaries International General Insurance Co. Ltd. [Bermuda] and International General Insurance Company [UK] Ltd.
S&P indicated the key factors in its decision were:
- Strong risk-based capital adequacy and strong risk controls to manage IGI’s key risk exposures;
- Track record of technical outperformance relative to sector peers;
- Experienced management team with a proven history of attracting high-calibre technical and underwriting staff.
IGI Chairman and CEO Wasef Jabsheh said, “We are pleased that S&P has taken the decision to reaffirm our ratings at A- with a Stable outlook, particularly given that IGI has transitioned to a publicly traded company in the U.S. since S&P’s last ratings review. It also underscores the strength of the IGI brand – our balance sheet, our track record of profitable growth and our long-standing relationships.”
