International General Insurance Company Ltd. (IGI) announced it had secured a ‘BBB’ long term counterparty credit and insurer rating from Standard and Poor’s.
Mr. Wasef Jabsheh, Chairman and Chief Executive officer of IGI, commenting on the rating said “The achievement of the rating is the culmination of three years of hard work supported by excellent trading results and is testament to the way in which IGI has conducted itself since commencement of operations in 2002. This rating will enhance IGI’s ability to develop new areas of opportunity and grow its global production sources.”
Standard and Poor’s credit analyst Kevin Willis said “The ratings reflect IGI’s strong capitalization, able management team, and good earnings.”
Standard and Poor's have assigned a stable outlook which reflects their expectation that IGI’s management will maintain its cautious underwriting resolve and continue to deliver sound earnings.