Rating Outlook Revision
AM Best has revised the outlook to positive from stable and affirmed the Long-Term Issuer Credit Rating of “bbb” for International General Insurance Holdings Ltd. The ratings agency also revised the outlook to positive from stable and affirmed the Financial Strength Rating of A and the Long-Term ICR of “a” for IGI’s subsidiaries, which include International General Insurance Co. Ltd in Bermuda, International General Insurance Company (UK) Limited, and International General Insurance Company (Europe) Ltd in Malta.
Underwriting and Balance Sheet Assessment
The ratings reflect IGI's very strong consolidated balance sheet strength, strong operating performance, limited business profile and appropriate enterprise risk management. AM Best expects the group to continue delivering excellent operating performance relative to peers during the anticipated soft phase of the underwriting cycle, supported by selective underwriting and a conservative investment portfolio.
