Standard & Poor’s reaffirms IGI’s A- rating with stable outlook

IGI-credit-rating-reaffirmed-by-Standards-and-Poor's

Standard & Poor’s (S&P) Global Ratings has confirmed the financial strength rating of A- with a stable outlook for International General Insurance (IGI), the global specialist commercial insurer and reinsurer.

IGI also had its long-term issuer credit rating of A- reaffirmed by S&P. Both ratings remain unchanged from 2018.

“We are delighted to have our A-/Stable rating confirmed,” said Wasef Jabsheh, Vice Chairman and Chief Executive Officer at IGI. “IGI works hard to maintain a truly global company, with strong results, excellent management and sensible underwriting, matched with an increased adoption of technology and innovation.”

In March, IGI reported a solid set of full-year results for 2018. The company saw gross written premium (GWP) rise by 9.5% to US $301.56 million in 2018, compared to US $275.3 million the year before. The Group also announced a 237% increase in net profit to US$ 26.47 million from US $7.86 million as at 31 December 2017. The combined operating ratio was 88.97%, down from last year’s figure of 103.08%.

CLICK HERE TO SIGN UP FOR OUR
FREE BI-WEEKLY NEWSLETTER

Latest video

IGI’s Group founder and CEO named Jordan’s EY Entrepreneur of the Year

IGI’s group founder named as Jordan’s EY Entrepreneur of the YearWasef Jabsheh, Group Founder and Chief Executive Officer of International General Insurance... click here for more