IGI Announces Move to New London Offices

Rhea-AI Summary

IGI Holdings (NASDAQ: IGIC) announced the relocation of its London operations to the 15th floor of the 'Walkie-Talkie' Building at 20 Fenchurch Street, effective October 28, 2024. The move reflects the company's growth and commitment to the London market. The new office will house over 130 employees, including 60 underwriters covering various business lines such as Energy, Property, Aviation, Construction, Marine, and Financial services. According to CEO Waleed Jabsheh, the relocation will enhance team collaboration and client engagement by consolidating all personnel on a single floor.

Positive

• Expansion of operations evidenced by need for larger office space
• Strategic location alongside key market peers
• Consolidation of 130+ employees on single floor to improve operational efficiency
• Broad portfolio of business lines indicating diversified revenue streams

Negative

• None.

HAMILTON, Bermuda--(BUSINESS WIRE)-- International General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced that they will move their London operations to new offices on the 15^th floor of the iconic ‘Walkie-Talkie’ Building at 20 Fenchurch Street, London, EC3M 3BY on Monday 28 October 2024. This move reflects the growth of the Company’s principle underwriting hub, the significant progress made in recent years, and the Company’s continued commitment to the London market.

“We are excited about this move, especially to such a prestigious location, and we’re delighted to be in the company of a number of our respected London market peers in the Walkie Talkie building,” said Waleed Jabsheh, IGI President and CEO, who is based in London. “The IGI Group has grown substantially over the past five years and our London team has expanded as we have entered new lines and markets and enhanced the teams that support our global underwriting. This relocation allows us to continue that build out, and with all our people now being situated on one floor, it enhances our ability to collaborate more effectively with each other. It also offers a more suitable space for engaging more actively with our clients and brokers.”

More than 130 people will be based in the new office, including 60 underwriters able to write across the following business lines: Energy, Property, General Aviation, Construction & Engineering, Ports & Terminals, Marine Cargo, Marine Trades, Contingency, Political Violence, Financial Institutions, Legal Expenses, Professional Indemnity, D&O, Marine Liability, and Reinsurance Treaty Business.

About IGI:

IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction & engineering, ports & terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general third-party liability (casualty), legal expenses, professional indemnity, D&O, marine liability and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Malta, Dubai, Amman, Oslo, Kuala Lumpur and Casablanca, IGI aims to deliver outstanding levels of service to clients and brokers. IGI is rated “A” (Excellent)/Stable by AM Best and “A-”(Strong)/Stable by S&P Global Ratings. For more information about IGI, please visit www.iginsure.com.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the business of IGI may differ from its actual results and, consequently, you should not rely on forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” “commitment,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements contained in this press release may include, but are not limited to, our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, the outcome of our strategic initiatives, our expectations regarding pricing and other market conditions, and our growth prospects. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of IGI and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) changes in demand for IGI’s services together with the possibility that IGI may be adversely affected by other economic, business, and/or competitive factors globally and in the regions in which it operates; (2) competition, the ability of IGI to grow and manage growth profitably and IGI’s ability to retain its key employees; (3) changes in applicable laws or regulations; (4) the outcome of any legal proceedings that may be instituted against the Company; (5) the effects of the hostilities between Russia and Ukraine and the sanctions imposed on Russia by the United States, European Union, United Kingdom and others; (6) the effects of the war between Israel and Hamas; (7) the inability to maintain the listing of the Company’s common shares on Nasdaq; and (8) other risks and uncertainties indicated in IGI’s filings with the SEC. The foregoing list of factors is not exclusive. In addition, forward-looking statements are inherently based on various estimates and assumptions that are subject to the judgment of those preparing them and are also subject to significant economic, competitive, industry and other uncertainties and contingencies, all of which are difficult or impossible to predict and many of which are beyond the control of IGI. There can be no assurance that IGI’s financial condition or results of operations will be consistent with those set forth in such forward-looking statements. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. IGI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except to the extent that is required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241025868747/en/

Investors:

Robin Sidders, Head of Investor Relations

M: + 44 (0) 7384 514785

Email: robin.sidders@iginsure.com



Media:

Aaida Abu Jaber, AVP PR & Marketing

T: +96265662082 Ext. 407

M: +962770415540

Email: aaida.abujaber@iginsure.com

Source: International General Insurance Holdings Ltd.

FAQ

When is IGI Holdings (IGIC) moving to its new London office?

IGI Holdings (IGIC) is moving to its new London office on October 28, 2024.

Where is IGI Holdings (IGIC) new London office located?

IGI Holdings' new London office will be located on the 15th floor of the 'Walkie-Talkie' Building at 20 Fenchurch Street, London, EC3M 3BY.

How many employees will IGI Holdings (IGIC) have in its new London office?

IGI Holdings will have more than 130 people based in the new London office, including 60 underwriters.

What business lines does IGI Holdings (IGIC) cover in London?

IGI Holdings covers multiple business lines including Energy, Property, General Aviation, Construction & Engineering, Marine, Political Violence, Financial Institutions, and Reinsurance Treaty Business.