IGI Bermuda, the Bermuda subsidiary of International General Insurance Holdings (IGI), has received provisional approval from the National Association of Insurance Commissioners (NAIC) to write US excess and surplus (E&S) business.
The approval is effective from April 1, 2020, pending execution of the IGI Bermuda US E&S lines trust agreement which is currently in progress.
IGI Bermuda intends to write short-tail US E&S business in energy, property and political violence specialty lines.
It is expected that IGI Bermuda will be named on the NAIC’s April Quarterly Listing of Alien Insurers.
IGI, International General Insurance Holdings, NAIC, National Association of Insurance Commissioners