A.M. Best affirms IGI's ratings with a Stable outlook

International General Insurance Holdings Limited (IGIH) is pleased to announce that A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-“ of International General Insurance Company Limited (Bermuda) (IGI).

The ICR of the parent company, International General Insurance Holdings Limited (IGIH), is also affirmed at “bbb-“ and the outlook for all ratings remains stable. 

A.M. Best Europe has also assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-“ to International General Insurance Company (UK) Limited, a newly formed wholly-owned subsidiary company of IGI operating in London. 

Commenting on the above, Mr. Wasef Jabsheh, Vice Chairman and Chief Executive Officer of  IGI said: “Despite the challenging environment we are operating in, IGI has continued to develop its market profile and achieve growth targets through disciplined underwriting. I am very pleased with the affirmation of our rating.

Jabsheh continued, "This is a testament to our sound underwriting strategy, solid financial standing and superior operating performance in 2010.  We believe our London Company will contribute significantly to the expansion of our market base and achievement of our growth plans.”