International General Insurance Holdings (IGI) has announced that its Bermuda subsidiary, International General Insurance Company (IGI Bermuda) has been granted provisional approval by the National Association of Insurance Commissioners (NAIC) to write US excess and surplus lines business starting April 01. The approval is pending execution of the IGI Bermuda US E&S lines trust agreement, which is currently in progress.
It is expected that IGI Bermuda will be named on the NAIC’s Quarterly Listing of Alien Insurers in April, IGI said. IGI Bermuda intends to write short-tail US E&S business in energy, property and political violence specialty lines.
IGI, established in 2001, is an international specialist commercial insurer and reinsurer. It has a worldwide portfolio that includes business in energy, property, construction and engineering, financial institutions, and other sectors.