The ratings apply to IGI's three subsidiaries International General Insurance Co. Ltd. (Bermuda), International General Insurance Company (UK) Ltd. and International General Insurance Company (Europe) SE.
The key factors cited by AM Best in affirming IGI's ratings are the Company's "very strong" consolidated balance sheet and its strong operating performance underpinned by robust underwriting, with IGI's underwriting discipline being a "key factor supporting its good financial results". AM Best also noted the Company's well-diversified business profile by line of business and geography.
IGI Chairman and CEO Wasef Jabsheh said, "AM Best's reaffirmation of our financial strength ratings at A (Excellent), with a stable outlook, recognizes the significant progress we have made in strengthening our balance sheet, and growing and diversifying our portfolio while maintaining quality profitable underwriting. We are continuing to find attractive opportunities in our various markets, especially in Europe where we recently launched our European business in Malta. In keeping with our long track record, our further expansion will be thoughtful and measured."
IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction & engineering, ports & terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general third-party liability (casualty), legal expenses, professional indemnity, D&O, surety, marine liability and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Malta, Dubai, Amman, Labuan and Casablanca, IGI aims to deliver outstanding levels of service to clients and brokers. IGI is rated "A" (Excellent)/Stable by AM Best and "A-"/Stable by S&P Global Ratings.