S&P Affirms Global Ratings Of IGI Holdings
International General Insurance Holdings Ltd. announced that S&P Global Ratings has affirmed its financial strength ratings at A- with a Stable outlook.
A spokesperson said, “The ratings apply to IGI’s two subsidiaries International General Insurance Co. Ltd. [Bermuda] and International General Insurance Company [UK] Ltd.
“The key factor cited by S&P in affirming IGI’s ratings was an improved competitive position, elevating that position to “strong” from “satisfactory” a year ago. S&P noted IGI’s financial outperformance relative to other ‘A-’ rated reinsurer peers, while growing and diversifying its premium base.
IGI President Waleed Jabsheh said, “We are pleased that S&P has reaffirmed our financial strength ratings at A- with a Stable outlook, and particularly gratified by the recognition of the quality growth and continued diversification we achieved in 2020.
“In addition to the new business written in the U.S. through our E&S license, we introduced new marine lines products, and most recently announced our entry into the global contingency market. We are continuing on this path of profitable growth and diversification in 2021, while maintaining our focused and judicious approach to underwriting new risks.”
