AMMAN: The Standard and Poor’s, raises the rating of International General Insurance Company Ltd (IGI) to A- from BBB+. This rating applies to the Bermuda-based IGI group, which has operations in Dubai, Amman, London, Labuan and Casablanca. S&P said: “IGI and its subsidiaries performed strongly and ahead of our expectations in 2014.
“The rating agency added: “We expect that IGI will be able to use retained earnings to maintain extremely strong risk-based capital adequacy relative to its retained insurance and investment risk.””We are delighted with the upgrade,” said Wasef Jabsheh, Chief Executive Officer of IGI. “This rating is a reflection on our strong results, good management, and disciplined underwriting.” Mr. Jabsheh added: “This upgrade will enhance our stability and strengthen our relationships with our core brokers and clients.”
