shaheennews<\/p>\n
Standard & Poor\u2019s (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.\u00a0<\/span><\/p>\n IGI also had its long-term issuer credit rating of A- reaffirmed by S&P. Both ratings remain unchanged from 2018.\u00a0<\/span><\/p>\n \u201cWe are delighted to have our A-\/Stable rating confirmed,\u201d said Wasef Jabsheh, Vice Chairman and Chief Executive Officer at IGI. \u201cIGI 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.\u201d\u00a0<\/span><\/p>\n 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 $7.86 million as at 31 December 2017. The combined operating ratio was 88.97%, down from last year\u2019s figure of 103.08%.\u00a0<\/span><\/p>\n Ends<\/b>\u00a0<\/span><\/p>\n Issued by Rein4ce on behalf of International General Insurance Holding Limited.\u00a0<\/span><\/p>\n About IGI:<\/b>\u00a0<\/span><\/p>\n International General Insurance Holdings Limited is registered in the Dubai International Financial Centre (DIFC) with operations in Bermuda, Jordan, UAE, Malaysia, Morocco and a wholly owned subsidiary in the U.K.\u00a0<\/span><\/p>\n IGI Bermuda is a class 3B (re)insurer regulated by the Bermuda Monetary Authority (BMA). This subsidiary is the principal underwriting entity for the Group. The Group also has a branch in Labuan, Malaysia, registered as a second-tier offshore reinsurer.\u00a0<\/span><\/p>\n Both IGI Bermuda and IGI UK are rated A- with a stable outlook by Standard & Poor\u2019s and A- (Excellent) with a positive outlook by A.M Best Company.\u00a0<\/span><\/p>\n IGI Group of companies underwrites a worldwide portfolio of energy, property, engineering, casualty, legal expenses, directors and officers, financial institutions, general aviation, ports & terminals, marine liability, political violence, forestry and reinsurance treaty business.\u00a0<\/span><\/p>\n International General Insurance Holdings Limited had assets in excess of US$ 907 million as at 31 December 2018.\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n *Source: <\/b>AETOSWire<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" shaheennews Standard & Poor\u2019s (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.\u00a0 IGI also had its long-term issuer credit rating of A- reaffirmed by S&P. Both ratings remain unchanged from 2018.\u00a0 \u201cWe are delighted to have …<\/p>\n","protected":false},"author":2,"featured_media":4500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-4499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-and-international"],"yoast_head":"\n