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Stock impact report

IGI’s Financial Strength Rating Upgraded to “A” (Strong)/Stable by S&P Global Ratings

International General Insurance Holdings Ltd. - Ordinary Shares (IGIC) 
Company Research Source: Business Wire
HAMILTON, Bermuda--(BUSINESS WIRE)--International General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced that rating agency S&P Global Ratings (“S&P”) has upgraded the Company’s financial strength rating to “A” from “A-”.The rating applies to IGI’s three subsidiaries International General Insurance Co. Ltd. (Bermuda) (“IGI Bermuda”), International General Insurance Company (UK) Ltd. and International General Insurance Co. (Europe) Ltd. S&P also upgraded the long-term issuer credit rating of IGI Bermuda to “A” from “A-”, and assigned a stable outlook to all ratings.S&P cited IGI’s consistent outperformance of “higher-rated peers and the market average in underwriting results” as the rationale for its upgrade. S&P specifically noted that it expects IGI will “maintain strong technical results over the next two years” while navigating “softer market conditions without compromising underwriting performance.”Commenting on the upgrade, IGI President & CEO Show less Read more
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