AM Best Revises Issuer Credit Rating Outlooks to Positive for International General Insurance Holdings Ltd. and Its Subsidiaries

LONDON--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of International General Insurance Co. Ltd., (IGICL) (Bermuda), International General Insurance Company (UK) Limited (IGIUK) (United Kingdom) and International General Insurance Company (Europe) Ltd. (IGI Europe) (Malta). The outlook of the FSR is stable. All of these are subsidiaries of International General Insurance Holdings Ltd. (IGI) (Bermuda) [NASDAQ: IGIC]. Concurrently, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICR of “bbb” (Good) of IGI.

The Credit Ratings (ratings) reflect IGI’s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The ratings of IGICL, IGIUK and IGI Europe reflect their strategic importance to IGI.

The revision of the Long-Term ICRs outlooks to positive from stable reflects AM Best’s expectation that over the coming years IGI will continue to deliver excellent operating performance relative to its peers through what is expected to be a soft phase of the underwriting cycle, demonstrating its defensible market position.

IGI’s balance sheet strength assessment is expected to remain underpinned by the strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR). The group’s balance sheet strength is further supported by its strong liquidity position and conservative investment portfolio. IGI does not have any debt leverage and its financial flexibility is enhanced through its listing on the Nasdaq.

IGI has a track record of strong operating performance, illustrated by a five-year (2021-2025) weighted average return-on-equity ratio of 20%. IGI’s performance has been underpinned by solid underwriting performance, demonstrated by a five-year weighted average combined ratio marginally above 80%, which has been supported by sizeable releases of prior year reserves. Prospectively, the group is expected to maintain its strong profitability, supported by its selective underwriting approach and stable investment income.

IGI maintains a well-diversified portfolio by line of business and geography, supported by its growing global profile. In 2026, IGI established a reinsurance branch in India, expanding its number of international underwriting hubs to nine. AM Best expects IGI to achieve modest growth over the medium term as the group remains disciplined to effectively manage the underwriting cycle.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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