S&P boosts International General Insurance outlook to positive

Standard & Poor's said it revised its outlook on International General Insurance Co. Ltd. Jordan to positive from stable, reflecting expected benefits accruing from the company's enhanced business franchise following its restructuring and recapitalization in the fourth quarter of 2005.

At the same time, the agency said it affirmed its BBB long-term counterparty credit and insurer financial strength ratings on the company.

S&P noted that the ratings reflect the company's strong capitalization, marginally positive management and good earnings, adding that these strengths are partly offset by the company's marginal competitive position.

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