A.M. Best reaffirms IGI’s Financial Strength rating of A- (Excellent)
Rating agency A.M. Best has reaffirmed the financial strength rating of A- (Excellent) with a positive outlook for International General Insurance Co. Ltd (IGI Bermuda) and International General Insurance Company (UK) Limited (IGI UK), the global specialist commercial insurer and reinsurer.
A.M. Best said the positive outlook reflects “IGI’s record of strong operating results, driven by generally robust underwriting profitability and stable investment income”.
The rating agency also said IGI’s balance sheet strength assessment was underpinned by its risk-adjusted capitalisation being at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR).
In addition, A.M. Best praised IGI’s Enterprise Risk Management (ERM) framework, calling it “well-developed” and its risk management capabilities “aligned appropriately with its risk profile”.
A.M. Best also believes that “IGI’s capital buffer will sufficiently support its strategic initiatives over the next three years (2018-2020).”
“We are pleased to have received from AM Best the A- (Excellent) with a positive outlook rating.” said Mr Wasef Jabsheh, Chief Executive Officer of IGI. AM Best stated IGI has achieved strong underwriting profitability in challenging market conditions. “The positive outlooks reflect the expectation that the company will generate strong profitability, while maintaining its balance sheet strength at a very strong level,” A.M Best said.
Established in 2001, International General Insurance (IGI) is a global privately-owned specialist commercial insurer and reinsurer. Our vision is to be the company of choice for clients and brokers through market-leading service and our reputation for stable management and capital security.
A diverse and highly experienced team of underwriters operates our office in London. We also have offices in Dubai, Amman, Casablanca and Kuala Lumpur.
Our diverse portfolio of specialty lines includes Energy, Property, Construction & Engineering, Ports & Terminals, Financial Institutions, Aviation, Professional Indemnity, Political Violence, Legal Expenses, D&O, Casualty, Forestry and Treaty Reinsurance.
Standard and Poor’s upgraded our financial strength rating to “A- “, with a Stable outlook. A.M. Best rated the company A- (Excellent), with a Positive outlook, stating, “the revised outlook reflects IGI’s consistent record of very strong operating performance and the continuous improvement in its enterprise risk management framework.”
We take pride in providing proactive claims management, coupled with open communication, leading to the efficient handling of claims. We endeavour to act fairly and honourably in our relations with clients and brokers.
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