IGI completes acquisition of Norway-based MGA Energy Insurance Oslo
International General Insurance Holdings Ltd. (IGI) has announced the completion of the acquisition of Norway-based managing general agency Energy Insurance Oslo AS (“EIO”).
The transaction included the acquisition of all outstanding shares of EIO. The entity, which is expected to be renamed IGI Nordic AS (“IGI Nordic”), is a subsidiary of Bermuda-based International General Insurance Co. Ltd.
IGI has had an exclusive arrangement with EIO since 2009, writing a portfolio of energy and construction business in Norway.
IGI Chairman & CEO Wasef Jabsheh said, “We are delighted to welcome the EIO team to the IGI group. The successful completion of our acquisition of EIO allows us to expand the existing book of energy and construction business and leverage our relationships to broaden our presence in the Nordic markets across other business lines.”
Authored by IGI
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.