AM Best Affirms Credit Ratings of International General Insurance Holdings Ltd. and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) for International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK), and International General Insurance Company (Europe) (IGI Europe). The Long-Term ICR of "bbb" (Good) for International General Insurance Holdings (IGI) [NASDAQ: IGIC] was also affirmed. The outlook for these ratings is stable.
The ratings reflect IGI's very strong balance sheet strength, strong operating performance, business profile, and appropriate enterprise risk management. IGI's risk-adjusted capitalisation is assessed at the strongest level, supported by a strong liquidity position and conservative investment portfolio. The company has demonstrated strong profitability with a five-year (2019-2023) weighted average return-on-equity ratio of 16% and a combined ratio below 85%.
AM Best ha confermato il Rating di Solidità Finanziaria di A (Eccellente) e i Rating di Credito a Lungo Termine di "a" (Eccellente) per International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK), e International General Insurance Company (Europe) (IGI Europe). È stato confermato anche il Rating ICR a Lungo Termine di "bbb" (Buono) per International General Insurance Holdings (IGI) [NASDAQ: IGIC]. L'outlook per questi rating è stabile.
Questi rating riflettono la molto forte solidità patrimoniale, la buona performance operativa, il profilo aziendale e una gestione del rischio d'impresa appropriata di IGI. La capitalizzazione aggiustata per il rischio di IGI è valutata al livello più forte, supportata da una solida posizione di liquidità e un portafoglio di investimenti conservativo. L'azienda ha dimostrato una forte redditività con un rapporto medio ponderato di ritorno sul capitale proprio del 16% negli ultimi cinque anni (2019-2023) e un rapporto combinato inferiore all'85%.
AM Best ha confirmado la Calificación de Fortaleza Financiera de A (Excelente) y las Calificaciones de Crédito del Emisor a Largo Plazo de "a" (Excelente) para International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK), y International General Insurance Company (Europe) (IGI Europe). También se ha confirmado la calificación ICR a Largo Plazo de "bbb" (Buena) para International General Insurance Holdings (IGI) [NASDAQ: IGIC]. La perspectiva para estas calificaciones es estable.
Las calificaciones reflejan la muy fuerte solidez de balance, fuerte rendimiento operativo, el perfil empresarial y la gestión de riesgos adecuada de IGI. La capitalización ajustada al riesgo de IGI se evalúa en el nivel más fuerte, respaldada por una sólida posición de liquidez y una cartera de inversiones conservadora. La empresa ha demostrado una fuerte rentabilidad con un promedio ponderado de retorno sobre el capital propio del 16% en los últimos cinco años (2019-2023) y un ratio combinado por debajo del 85%.
AM Best는 A(우수)의 재무 건전성 등급과 a(우수)의 장기 발행자 신용 등급을 International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK), 그리고 International General Insurance Company (Europe) (IGI Europe)에 대해 확인했습니다. 또한 International General Insurance Holdings (IGI) [NASDAQ: IGIC]에 대한 "bbb" (양호)의 장기 ICR이 확인되었습니다. 이러한 등급에 대한 전망은 안정적입니다.
이 등급은 IGI의 매우 강력한 재무 상태, 강력한 운영 성과, 비즈니스 프로필, 적절한 기업 위험 관리 등을 반영합니다. IGI의 위험 조정 자본금은 가장 강력한 수준으로 평가되며, 강한 유동성 위치와 보수적인 투자 포트폴리오가 뒷받침됩니다. 이 회사는 지난 5년(2019-2023) 동안 평균 자본 수익률 16%와 85% 이하의 결합 비율로 강한 수익성을 보여주었습니다.
AM Best a confirmé la note de solidité financière de A (Excellent) et les notes de crédit à long terme de "a" (Excellent) pour International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK) et International General Insurance Company (Europe) (IGI Europe). La note ICR à long terme de "bbb" (Bon) pour International General Insurance Holdings (IGI) [NASDAQ: IGIC] a également été confirmée. Les perspectives pour ces notes sont stables.
Les notes reflètent la très forte solidité bilancielle, la bonne performance opérationnelle, le profil commercial et la gestion appropriée des risques de l'entreprise d'IGI. La capitalisation ajustée au risque d'IGI est évaluée au niveau le plus solide, soutenue par une solide position de liquidité et un portefeuille d'investissement conservateur. L'entreprise a démontré une forte rentabilité avec un ratio de rendement des capitaux propres moyen pondéré de 16 % au cours des cinq dernières années (2019-2023) et un ratio combiné inférieur à 85 %.
AM Best hat die Finanzstärke-Bewertung von A (Ausgezeichnet) und die langfristigen Emittentenausfallratings von "a" (Ausgezeichnet) für International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK) und International General Insurance Company (Europe) (IGI Europe) bestätigt. Auch das langfristige ICR von "bbb" (Gut) für International General Insurance Holdings (IGI) [NASDAQ: IGIC] wurde bestätigt. Der Ausblick für diese Ratings ist stabil.
Die Ratings spiegeln die sehr starke Bilanzkraft, die starke operative Leistung, das Geschäftsprofil und das angemessene Enterprise Risk Management von IGI wider. Die risikoadjustierte Kapitalisierung von IGI wird auf dem stärksten Niveau bewertet, unterstützt durch eine starke Liquiditätslage und ein konservatives Anlageportfolio. Das Unternehmen hat eine starke Rentabilität mit einer gewichteten durchschnittlichen Eigenkapitalrendite von 16 % über die letzten fünf Jahre (2019-2023) und einer Combined Ratio von unter 85 % gezeigt.
- Financial Strength Rating affirmed at A (Excellent) for IGICL, IGIUK, and IGI Europe
- Very strong balance sheet strength assessment
- Risk-adjusted capitalisation at the strongest level (BCAR)
- Strong liquidity position and conservative investment portfolio
- Five-year (2019-2023) weighted average return-on-equity ratio of 16%
- Five-year (2019-2023) weighted average combined ratio below 85%
- H1 2024 combined ratio of 77.7%
- Well-diversified portfolio by line of business and geography
- Strong growth over the last five years (2019-2023)
- None.
Insights
The 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.
IGI’s balance sheet strength assessment is underpinned by its consolidated risk-adjusted capitalisation assessed at the strongest level, 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 financial flexibility is enhanced through its listing on the Nasdaq.
IGI has a track record of strong operating performance, illustrated by a five-year (2019-2023) weighted average return-on-equity ratio of
IGI maintains a well-diversified portfolio by line of business and geography. The group has been expanding its business volumes in recent periods, evidenced by strong growth over the last five years (2019-2023). AM Best expects IGI to achieve further growth over the medium term while maintaining its strong underwriting discipline.
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
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Dale Kirby
Senior Financial Analyst
+44 20 7397 0276
dale.kirby@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Tim Prince
Director, Analytics
+44 20 7397 0320
timothy.prince@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com
Source: AM Best
FAQ
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