A.M. Best affirms ratings of IGI (Bermuda) & IGIH (Dubai)
10th August, 2009 We are pleased to announce that on 29th July 2009 A.M. Best Company affirmed the financial strength rating of A- (Excellent) and an issuer credit rating (ICR) of “a-“ to International General Insurance Company Limited (IGI) (Bermuda). A.M Best has also affirmed the ICR of “bbb-“of International General Insurance Holdings Limited (IGIH) (Dubai). The outlook for all ratings is stable. The A.M. Best press release evidencing this can be found on their website (http://www.ambest.com) whilst a scanned copy is attached herewith for good order. Commenting on the above Mr. Wasef Jabsheh, Vice Chairman and Chief Executive Officer said “I am very pleased with this news as it came after all of what our industry suffered during 2008 as a result of the world economic crisis and it’s impact on investment returns, as well as, the large insurance losses caused by severe natural catastrophic events, such as hurricane “IKE”. Mr. Jabsheh further added: “The above mentioned affirmation is testament to the strong risk management initiative implemented by the Company in both underwriting and investment. We are committed to protecting and increasing shareholders equity, enhancing IGI’s financial strength rating which will, no doubt, serve to reinforce the Company’s position as a leading (Re) insurer in the Afro- Asian region”. About IGI International General Insurance Holdings Limited (IGIH) is registered in the Dubai International Financial Centre with operations in Bermuda (IGI Bermuda), the United Kingdom, Jordan and Malaysia. IGI Bermuda is class 3B (re) insurer regulated by the Bermuda Monetary Authority and is rated A- (“Excellent”) by A.M. Best Company Inc. this subsidiary is the principal underwriting entity for the Group with the Jordan office providing all management, underwriting and operational functions. The Group also has a subsidiary company in Labuan, Malaysia registered as a fist tier reinsurer. IGI Group (companies) underwrites a worldwide portfolio of energy, property, marine, engineering, financial institutions and non-proportional reinsurance treaty business with the main geographical focus on the Afro – Asian markets. IGIH has assets of more than US$450 million as at 30th June, 2009 For more information please visit our website at www.iginsure.com Or email us at info [at] iginsure [dot] com.