International General Insurance Holdings (IGI) has announced that S&P Global Ratings has confirmed its financial strength ratings at A- with a stable outlook. The ratings apply to IGI’s subsidiaries, International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.
According to S&P, the key factors in its rating decision were:
- Strong risk-based capital adequacy and strong risk controls to manage IGI’s key risk exposures.
- The company’s track record of technical performance relative to sector peers.
- An experienced management team with a history of attracting high-quality technical and underwriting staff.
“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 US since S&P’s last review,” said Wasef Jabsheh, chairman and CEO of IGI. “It also underscores the strength of the IGI brand – our balance sheet, our track record of profitable growth and our longstanding relationships.”
