AM Best Reaffirms IGI Financial Strength Rating
International General Insurance Holdings Ltd. [IGI] today announced that AM Best has affirmed its financial strength ratings at A [Excellent] with a Stable outlook.
A spokesperson said, “The ratings apply to IGI’s three subsidiaries International General Insurance Co. Ltd. [Bermuda], International General Insurance Company [UK] Ltd. and International General Insurance Company [Europe] SE.
“The key factors cited by AM Best in affirming IGI’s ratings are the Company’s “very strong” consolidated balance sheet, its strong operating performance underpinned by robust underwriting, with IGI’s underwriting discipline being a “key factor supporting its good financial results”. AM Best also noted the Company’s well-diversified business profile by line of business and geography.
IGI Chairman and CEO Wasef Jabsheh said, “AM Best’s reaffirmation of our financial strength ratings at A [Excellent], with a stable outlook, recognizes the significant progress we have made in strengthening our balance sheet, and growing and diversifying our portfolio while maintaining quality profitable underwriting.
“We are continuing to find attractive opportunities in our various markets, especially in Europe where we recently launched our European business in Malta. In keeping with our long track record, our further expansion will be thoughtful and measured.”
