IGI Appoints Stav Tsielepis as Chief Risk Officer

Rhea-AI Summary

International General Insurance Holdings Ltd. (NASDAQ: IGIC) has appointed Stav Tsielepis as the new Chief Risk Officer. Based in London, Tsielepis will manage the company's risk management framework and report to CEO Andreas Loucaides. He brings 18 years of experience, previously serving as Chief Risk Officer at Arch Insurance International. His expertise includes implementing Brexit strategies and regulatory collaboration. This appointment is seen as pivotal for the company's strategic objectives in navigating the global risk landscape.

Positive

• Stav Tsielepis brings 18 years of industry experience to the role.
• Leadership change may strengthen IGIC's risk management capabilities.

Negative

• Transition may cause temporary disruptions in risk management continuity.

HAMILTON, Bermuda--(BUSINESS WIRE)-- International General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced the appointment of Stav Tsielepis as Chief Risk Officer of the IGI group.

Based in the Company’s London office, Mr. Tsielepis will work with the executive team with responsibility for administering IGI’s risk management framework including the exposure management and capital modelling functions across the group. He will report to Andreas Loucaides, Chief Executive Officer of IGI UK.

Mr. Tsielepis, who has 18 years’ industry experience, joins from Arch Capital Group’s London-based subsidiary Arch Insurance International, where he was Chief Risk Officer with responsibility for key projects such as implementing Brexit plans and working closely with regulators, including the Central Bank of Ireland. During his tenure, he was a Board member of Arch Underwriting at Lloyd’s Australia. Prior to his time at Arch, Mr. Tsielepis was an Actuarial Consultant for Towers Watson Ltd.

"With nearly two decades of experience, Stav joins us in a key senior management role at IGI, bringing a hands-on approach to international risk management and will help us continue to expand and execute our strategic objectives,” said Mr. Loucaides.

“I am excited to be joining IGI,” said Mr. Tsielepis. “I look forward to working with IGI’s executive team to ensure that we stay on top of the ever-evolving and diverse global risk landscape.”

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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, surety, marine liability and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Malta, Dubai, Amman, Labuan 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-”/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,” 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 potential effects of the COVID-19 pandemic and emerging variants; (6) the inability to maintain the listing of the Company’s common shares or warrants on Nasdaq; and (7) 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005430/en/

Investors:

Robin Sidders, Head of Investor Relations

T: + 44 (0) 2072 204937

M: + 44 (0) 7384 514785

Email: robin.sidders@iginsure.com

Media:

Aaida Abu Jaber, Assistant Vice President - PR & Marketing

T: +96265662082 Ext. 407

M: +962770415540

Email: aaida.abujaber@iginsure.com

Source: International General Insurance Holdings Ltd.

FAQ

Who is Stav Tsielepis?

Stav Tsielepis is the newly appointed Chief Risk Officer at International General Insurance Holdings Ltd.

What is the significance of Stav Tsielepis's appointment at IGIC?

His appointment is significant as he will oversee the company's risk management framework and strategic objectives.

What was Stav Tsielepis's role before joining IGIC?

Before joining IGIC, Stav Tsielepis was the Chief Risk Officer at Arch Insurance International.

When was Stav Tsielepis appointed as Chief Risk Officer for IGIC?

Stav Tsielepis was appointed Chief Risk Officer on the date of the press release.

How will Stav Tsielepis contribute to IGIC's strategic objectives?

He will leverage his experience in risk management to help IGIC navigate the evolving global risk landscape.