AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of International General Insurance Co. Ltd., (IGICL) (Bermuda) and International General Insurance Company (UK) Limited (IGIUK) (United Kingdom). Concurrently, the rating of International General Insurance Holdings Limited (IGI) (United Arab Emirates), now an intermediary holding company, has been withdrawn at the company’s request. The outlook of these Credit Ratings (ratings) is stable.
At the same time, AM Best has assigned a Long-Term ICR of “bbb” to International General Insurance Holdings Limited (IGIC) (Bermuda). The outlook assigned to this rating is stable.
The ratings of IGI reflect its balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM).
On 17 March 2020, IGI and Tiberius Acquisition Corporation (Tiberius) announced the completion of their business