IGI Reports Second Quarter and First Half Year 2023 Condensed and Unaudited Financial Results
- IGI reported an increase in gross written premiums from $180.7 million in Q2 2022 to $199.6 million in Q2 2023, representing a growth of 10.5%.
- Net premiums earned also saw an increase from $96.0 million in Q2 2022 to $118.4 million in Q2 2023, indicating a growth of 23.3%.
- Underwriting income improved from $40.3 million in Q2 2022 to $50.2 million in Q2 2023, reflecting a growth of 24.6%.
- Net income for the period increased from $22.0 million in Q2 2022 to $40.5 million in Q2 2023, representing a growth of 84.1%.
- None.
Highlights for the second quarter and first half of 2023 include:
(in millions of |
||||
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||
|
2023 |
2022 |
2023 |
2022 |
Gross written premiums |
|
|
|
|
Net premiums earned |
|
|
|
|
Underwriting income |
|
|
|
|
Net investment income (1) |
|
( |
|
|
Net income for the period |
|
|
|
|
Combined ratio (2) |
|
|
|
|
Earnings per share (diluted) (3) |
|
|
|
|
Return on average equity (annualized) (4) |
|
|
|
|
Core operating income (4) |
|
|
|
|
Core operating earnings per share (diluted) (4) |
|
|
|
|
Core operating return on average equity (annualized) (4) |
|
|
|
|
- See Note (1) in the “Notes to the Condensed Consolidated Financial Statements (Unaudited)” below.
- See “Supplementary Financial Information” below.
- See Note (2) in the “Notes to the Condensed Consolidated Financial Statements (Unaudited)” below.
- See the section titled “Non-GAAP Financial Measures” below.
IGI CEO Mr. Waleed Jabsheh said, “IGI produced another set of exceptional results across all key measures in the second quarter of 2023 as we continued to benefit from sustained hard market conditions in many of our reinsurance and short-tail lines, and a more favorable investment environment. This culminated in net income of
“The trends that we saw during the first quarter of 2023 continued throughout the second quarter resulting in gross premium growth of
“All indications are that the positive trends in many short-tail and reinsurance lines that we have experienced over the last several quarters will remain for at least the near-term and we look forward to building on this momentum in the quarters ahead, and continuing to generate sustainable long-term value for our shareholders.”
Results for the Periods ended June 30, 2023 and 2022
Net income for the quarter ended June 30, 2023 increased
Core operating income, a non-GAAP measure, defined below, was
Net income for the six months ended June 30, 2023 increased
Core operating income was
Underwriting Results
Underwriting income, a non-GAAP measure, increased
Gross written premiums were
The loss ratio improved by 1.5 points to
The net policy acquisition expense ratio was
The combined ratio for the quarter ended June 30, 2023 improved by 1.4 points to
Underwriting income increased
Gross written premiums were
The loss ratio was
The net policy acquisition expense ratio was
The combined ratio for the six months ended June 30, 2023 was
Segment Results
The Long-tail Segment, which represented approximately
Gross written premiums for the first six months of 2023 were
The Short-tail Segment, which represented approximately
Gross written premiums for the first six months of 2023 were
The Reinsurance Segment, which represented approximately
Gross written premiums for the first six months of 2023 were
Net Foreign Exchange Gain (Loss)
The gain on foreign exchange in the second quarter of 2023 was
The gain on foreign exchange in the first six months of 2023 was
Investment Results
Net investment income was
Total Shareholders’ Equity
Total shareholders’ equity at June 30, 2023 was
(in millions of |
Quarter Ended June 30, 2023 |
Six Months Ended June 30, 2023 |
Total Shareholders’ equity at beginning of period |
|
|
Net income for the period |
|
|
Unrealized gains (losses) arising during the period for available-for-sale investments |
( |
|
Purchase of treasury shares |
( |
( |
Issuance of common shares under share-based compensation plan |
|
|
Cash dividends declared during the period |
( |
( |
Total shareholders’ equity at June 30, 2023 |
|
|
Book value per share was
In the second quarter of 2023, the Company repurchased approximately 320,960 common shares at an average price per share of
International General Insurance Holdings Ltd.
Condensed Consolidated Statements of Income (Unaudited)
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||
(in millions of |
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
|
|
|
|
||||
Gross written premiums................................................................ |
|
|
|
|
||||
Ceded written premiums.............................................................. |
( |
( |
( |
( |
||||
Net written premiums.................................................................. |
|
|
|
|
||||
Net change in unearned premiums............................................. |
( |
( |
( |
( |
||||
Net premiums earned................................................................... |
|
|
|
|
||||
Investment Income(1)..................................................................... |
|
|
|
|
||||
Net realized loss on investments(1).............................................. |
( |
- |
- |
- |
||||
Net unrealized gain (loss) on investments(1).............................. |
|
( |
|
( |
||||
Change in allowance for credit losses on investments(1)......... |
|
|
|
( |
||||
Change in fair value of derivative financial liabilities............... |
( |
|
( |
|
||||
Other revenues .............................................................................. |
|
|
|
|
||||
Total revenues ............................................................................... |
|
|
|
|
||||
Expenses ......................................................................................... |
|
|
|
|
||||
Net loss and loss adjustment expenses ..................................... |
( |
( |
( |
( |
||||
Net policy acquisition expenses .................................................. |
( |
( |
( |
( |
||||
General & Administrative expenses............................................ |
( |
( |
( |
( |
||||
Change in allowance for credit losses on financial assets....... |
( |
|
( |
( |
||||
Other expenses .............................................................................. |
( |
( |
( |
( |
||||
Net Foreign exchange gain (loss)................................................. |
|
( |
|
( |
||||
Total expenses................................................................................ |
( |
( |
( |
( |
||||
Net income before tax.................................................................. |
|
|
|
|
||||
Income tax Expense ...................................................................... |
( |
|
( |
( |
||||
Net income for the period .......................................................... |
|
|
|
|
||||
Diluted earnings per share attributable to equity holders (2) |
|
|
|
|
See “Notes to the Condensed Consolidated Financial Statements (Unaudited)” below.
International General Insurance Holdings Ltd.
Condensed Consolidated Balance Sheets
(in millions of |
As at June 30, 2023 (Unaudited) |
As at December 31, 2022 (Unaudited) |
|
ASSETS |
|
|
|
Investments |
|
|
|
Fixed maturity securities available-for-sale, at fair value |
|
|
|
Fixed maturity securities held to maturity |
|
|
|
Equity securities, at fair value |
|
|
|
Other investments |
|
|
|
Short-term investments |
|
|
|
Term Deposits |
|
|
|
Equity-method investments measured at fair value |
|
|
|
Cash and cash equivalents |
|
|
|
Accrued investment income |
|
|
|
Premiums receivables |
|
|
|
Reinsurance recoverables |
|
|
|
Ceded unearned premiums |
|
|
|
Deferred policy acquisition costs, net of ceding commissions |
|
|
|
Deferred tax assets |
|
|
|
Other assets |
|
|
|
TOTAL ASSETS |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
Reserve for unpaid loss and loss adjustment expenses |
|
|
|
Unearned premiums |
|
|
|
Other liabilities |
|
|
|
Insurance and reinsurance payables |
|
|
|
Derivative financial liabilities |
|
|
|
TOTAL LIABILITIES |
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
Common shares at par value |
|
|
|
Additional paid-in capital |
|
|
|
Treasury shares |
( |
- |
|
Accumulated other comprehensive income, net of taxes |
|
|
|
Foreign currency translation reserve |
( |
( |
|
Fair value reserve |
( |
( |
|
Retained earnings |
|
|
|
TOTAL SHAREHOLDERS’ EQUITY |
|
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
See “Notes to the Condensed Consolidated Financial Statements (Unaudited)” below.
Supplementary Financial Information – Combined Ratio (Unaudited)
International General Insurance Holdings Ltd.
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
|
|
|
|
||||
Loss ratio (a)........................................................... . |
|
|
|
|
||||
Net policy acquisition expense ratio (b)................................. |
|
|
|
|
||||
General and administrative expense ratio (c)....................... |
|
|
|
|
||||
Expense ratio (d)...................................................... |
|
|
|
|
||||
Combined ratio (e)................................................... |
|
|
|
|
(a) Represents net loss and loss adjustment expenses as a percentage of net premiums earned. The split of loss ratio between current accident year, current year Catastrophe (“CAT”) losses, which are included in ‘Net loss and loss adjustment expenses’, and prior years’ loss development is as follows:
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||||||||||
|
2023 |
2022 |
2023 |
2022 |
||||||||||||
(in millions of |
Net loss and loss adjustment expenses |
% of net premiums earned |
Net loss and loss adjustment expenses |
% of net premiums earned |
Net loss and loss adjustment expenses |
% of net premiums earned |
Net loss and loss adjustment expenses |
% of net premiums earned |
||||||||
Current year net incurred claims |
|
|
|
|
|
|
|
|
||||||||
Minus: Current accident year CAT losses |
|
|
|
|
|
|
|
|
||||||||
Minus: Effect of prior years’ development |
( |
( |
( |
( |
( |
( |
( |
( |
||||||||
Current accident year (before CAT losses) |
|
|
|
|
|
|
|
|
(b) Represents net policy acquisition expenses as a percentage of net premiums earned.
(c) Represents general and administrative expenses as a percentage of net premiums earned.
(d) Represents the sum of the net policy acquisition expenses ratio and the general and administrative expense ratio.
(e) Represents the sum of the loss ratio and the expense ratio.
International General Insurance Holdings Ltd.
Supplementary Financial Information – Book Value per Share (Unaudited)
(in millions of |
As at June 30, 2023 |
As at December 31, 2022 |
||
Investments........................................................................................................ |
|
|
||
Cash and cash equivalents............................................................................... |
|
|
||
Total investments and cash and cash equivalents..................................... |
|
|
||
|
|
|
||
Common shares outstanding (in millions)* …………………………………………. |
46.6 |
49.0 |
||
Minus: Unvested shares (in millions)** ………………………………………………. |
3.8 |
3.7 |
||
Number of vested common outstanding shares (in millions) (a) ………. |
42.8 |
45.3 |
||
|
|
|
||
Total shareholders’ equity (b) …………………………………………………………… |
|
|
||
Book value per share (b)/(a) ……………………………………………………………. |
|
|
* Common shares issued and outstanding as at June 30, 2023 and December 31, 2022 are as follows:
|
No. of shares as at |
|
|
June 30, 2023 |
|
Vested common shares as of December 31, 2022 |
45,308,596 |
|
Vested restricted share awards |
283,859 |
|
Cancelled treasury shares |
(2,741,477) |
|
Treasury shares balance as of June 30, 2023 |
(31,966) |
|
Total vested common shares as of June 30, 2023 |
42,819,012 |
|
|
|
|
Unvested earnout shares as of June 30, 2023 |
3,012,500 |
|
Unvested restricted share awards as of June 30, 2023 |
762,322 |
|
Total unvested shares as of June 30, 2023 |
3,774,822 |
|
Total common shares outstanding |
46,593,834 |
|
No. of shares as at |
|
|
December 31, 2022 |
|
Vested common shares as of December 31, 2021 |
45,471,084 |
|
Vested restricted share awards |
146,386 |
|
Cancelled treasury shares |
(308,874) |
|
Treasury shares balance as of December 31, 2022 |
(1,668) |
|
Total vested common shares as of December 31, 2022 |
45,306,928 |
|
|
|
|
Unvested earnout shares as of December 31, 2022 |
3,012,500 |
|
Unvested restricted share awards as of December 31, 2022 |
667,181 |
|
Total unvested shares as of December 31, 2022 |
3,679,681 |
|
Total common shares outstanding |
48,986,609 |
** Earnout Shares are subject to vesting at stock prices ranging from
International General Insurance Holdings Ltd.
Supplementary Financial Information - Segment Results (Unaudited)
Segment information for IGI’s consolidated operations is as follows:
For the quarter ended June 30, 2023 |
|||||||
(in millions of |
Specialty Long-tail |
Specialty Short-tail |
Reinsurance |
Total |
|||
Underwriting revenues |
|
|
|
|
|||
Gross written premiums |
|
|
|
|
|||
Ceded written premiums |
( |
( |
- |
( |
|||
Net written premiums |
|
|
|
|
|||
Net change in unearned premiums |
|
( |
|
( |
|||
Net premiums earned |
|
|
|
|
|||
|
|
|
|
|
|||
Net loss and loss adjustment expenses |
( |
( |
( |
( |
|||
Net policy acquisition expenses |
( |
( |
( |
( |
|||
Underwriting income* |
|
|
|
|
For the quarter ended June 30, 2022 |
||||||||
(in millions of |
Specialty Long-tail |
Specialty Short-tail |
Reinsurance |
Total |
||||
Underwriting revenues |
|
|
|
|
||||
Gross written premiums |
|
|
|
|
||||
Ceded written premiums |
( |
( |
- |
( |
||||
Net written premiums |
|
|
|
|
||||
Net change in unearned premiums |
( |
( |
|
( |
||||
Net premiums earned |
|
|
|
|
||||
|
|
|
|
|
||||
Net loss and loss adjustment expenses |
( |
( |
( |
( |
||||
Net policy acquisition expenses |
( |
( |
( |
( |
||||
Underwriting Income* |
|
|
|
|
* Underwriting income is a non-GAAP financial measure.
International General Insurance Holdings Ltd.
Supplementary Financial Information - Segment Results (Unaudited)
For the six months ended June 30, 2023 |
||||||||
(in millions of |
Specialty Long-tail |
|
Specialty Short-tail |
|
Reinsurance |
|
Total |
|
Underwriting revenues |
|
|
|
|
|
|
|
|
Gross written premiums |
|
|
|
|
|
|
|
|
Ceded written premiums |
( |
|
( |
|
- |
|
( |
|
Net written premiums |
|
|
|
|
|
|
|
|
Net change in unearned premiums |
|
|
( |
|
( |
|
( |
|
Net premiums earned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss and loss adjustment expenses |
( |
|
( |
|
( |
|
( |
|
Net policy acquisition expenses |
( |
|
( |
|
( |
|
( |
|
Underwriting income* |
|
|
|
|
|
|
|
For the six months ended June 30, 2022 |
||||||||
(in millions of |
Specialty Long-tail |
|
Specialty Short-tail |
|
Reinsurance |
|
Total |
|
Underwriting revenues |
|
|
|
|
|
|
|
|
Gross written premiums |
|
|
|
|
|
|
|
|
Ceded written premiums |
( |
|
( |
|
- |
|
( |
|
Net written premiums |
|
|
|
|
|
|
|
|
Net change in unearned premiums |
|
|
( |
|
( |
|
( |
|
Net premiums earned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss and loss adjustment expenses |
( |
|
( |
|
( |
|
( |
|
Net policy acquisition expenses |
( |
|
( |
|
( |
|
( |
|
Underwriting Income* |
|
|
|
|
|
|
|
* Underwriting income is a non-GAAP financial measure.
International General Insurance Holdings Ltd.
Notes to the Condensed Consolidated Financial Statements (Unaudited)
(1) The following are the calculated investment yields and the reconciliation of investment income included in the Condensed Consolidated Statements of Income (Unaudited) to net investment income:
|
Quarter Ended June 30, |
Six Months Ended June 30, |
|||||
(in millions of |
2023 |
2022 |
2023 |
2022 |
|||
Investment income(a)........................................................ |
|
|
|
|
|||
Plus |
|
|
|
|
|||
Net realized loss on investments ..................................... |
( |
- |
- |
- |
|||
Net unrealized gain (loss) on investments...................... |
|
( |
|
( |
|||
Change in allowance for credit losses on investments. |
|
|
|
( |
|||
Net investment income........................................ |
|
( |
|
|
Average total investments and cash and cash equivalents (b) ……………………….….…….….………………… |
|
|
|
|
||||
Investment Yield (a) / (b) annualized………………………. |
|
|
|
|
(2) Represents net income for the period available to common shareholders divided by the weighted average number of vested common shares – diluted calculated as follows:
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||
(in millions of |
2023 |
|
2022 |
|
2023 |
|
2022 |
|
Net income for the period |
|
|
|
|
||||
Minus: Net income attributable to the earnout shares |
|
|
|
|
||||
Minus: Dividends attributable to restricted share awards |
- |
- |
- |
|
||||
Net income available to common shareholders (a) |
|
|
|
|
||||
Weighted average number of shares – diluted (in millions of shares) (b)* |
43.1 |
45.7 |
43.8 |
45.7 |
||||
Diluted earnings per share attributable to equity holders (a/b) |
|
|
|
|
* The weighted average number of common shares refers to the number of common shares calculated after adjusting for the changes in issued and outstanding common shares over a reporting period.
International General Insurance Holdings Ltd.
Non-GAAP Financial Measures
In presenting IGI’s results, management has included and discussed certain non-GAAP financial measures. We believe that these non-GAAP measures, which may be defined and calculated differently by other companies, help to explain and enhance the understanding of our results of operations. However, these measures should not be viewed as a substitute for those determined in accordance with
Reconciliation of Combined Ratio to Accident Year Combined Ratio Prior to CAT Losses
The table below illustrates the reconciliation of the combined ratio on a financial and accident year basis. The combined ratio is the sum of our loss ratio, our net policy acquisition expenses ratio and our general and administrative expenses ratio. We show the combined ratio because we believe investors can utilize the combined ratio to illustrate our underwriting results.
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||
(In millions of |
2023 |
2022 |
2023 |
2022 |
||||
Net premiums earned (a) |
|
|
|
|
||||
Net loss and loss adjustment expenses (b) |
( |
( |
( |
( |
||||
Net policy acquisition expenses (c) |
( |
( |
( |
( |
||||
General and administrative expenses (d) |
( |
( |
( |
( |
||||
Prior years favorable development (e) |
( |
( |
( |
( |
||||
CAT losses (f)* |
|
|
|
|
||||
|
|
|
|
|
||||
Combined ratio ((b+c+d)/a)** |
|
|
|
|
||||
Minus: Prior years unfavorable (favorable) development (e/a) |
( |
( |
( |
( |
||||
Accident year combined ratio |
|
|
|
|
||||
Minus: CAT losses on an accident year basis (f/a) |
|
|
|
|
||||
Accident year combined ratio prior to CAT losses |
|
|
|
|
*The CAT losses for the second quarter ended June 30, 2023 are primarily attributable to
The CAT losses for the six months ended June 30, 2023 are primarily attributable to
** See “Supplementary Financial Information - Combined Ratio (Unaudited)”
Core Operating Income
Core operating income measures the performance of our operations without the influence of after-tax gains or losses on investments and foreign currencies and other items as noted in the table below. We exclude these items from our calculation of core operating income because the amounts of these gains and losses are heavily influenced by, and fluctuate in part according to, economic and other factors external to the Company and/or transactions or events that are typically not a recurring part of, and are largely independent of, our core underwriting activities and including them distorts the analysis of trends in our operations. We believe the reporting of core operating income enhances an understanding of our results by highlighting the underlying profitability of our core insurance operations. Our underwriting profitability is impacted by earned premiums, the adequacy of pricing, and the frequency and severity of losses. Over time, such profitability is also influenced by underwriting discipline, which seeks to manage the Company’s exposure to loss through favorable risk selection and diversification, IGI’s management of claims, use of reinsurance and the ability to manage the expense ratio, which the Company accomplishes through the management of acquisition costs and other underwriting expenses.
In addition to presenting net income for the period determined in accordance with
Core operating income is calculated by the addition or subtraction of certain line items reported in the “Condensed Consolidated Statements of Income” from net income for the period and tax effecting each line item (resulting in each item being a non-GAAP measure), as illustrated in the table below:
|
Quarter Ended June 30, |
Six Months Ended June 30, |
||||||
(in millions of |
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
|
|
||||||
Net income for the period..................................................... |
|
|
|
|
||||
Reconciling items between net income for the period and core operating income: |
|
|
|
|
||||
Net realized loss on investments (tax adjusted) (i)............. |
|
- |
- |
- |
||||
Net unrealized (gain) loss on investments (tax adjusted) (i).................................................................................................. |
( |
|
( |
|
||||
Change in allowance for credit losses on investments (tax adjusted)(i)......................................................................... |
( |
( |
( |
|
||||
Change in fair value of derivative financial liabilities........ |
|
( |
|
( |
||||
Net foreign exchange (gain) loss (tax adjusted) (i) ............. |
( |
|
( |
|
||||
Core operating income |
|
|
|
|
||||
Average shareholders’ equity (ii)............................................ |
|
|
|
|
||||
Core operating return on average equity (annualized) (iii) and (v)............................................................................................. |
|
|
|
|
||||
Diluted core operating earnings per share (iv) .................... |
|
|
|
|
||||
Return on average equity (annualized) (v)........................... |
|
|
|
|
i. Represents a non-GAAP financial measure as components within the line-item balances for net investment income and net foreign exchange gains or losses reported in “Condensed Consolidated Statements of Income (Unaudited)” have been adjusted above for the related tax impact.
ii. Represents the total shareholders’ equity at the reporting period end plus the total shareholders’ equity as of the beginning of the reporting period, divided by 2.
iii. Represents annualized core operating income for the period divided by average shareholders’ equity.
iv. Represents core operating income attributable to vested equity holders divided by weighted average number of vested common shares –diluted as follows:
|
Quarter Ended June 30, |
|
Six Months Ended June 30, |
|||||
(in millions of |
2023 |
|
2022 |
|
2023 |
|
2022 |
|
Core operating income for the period |
|
|
|
|
||||
Minus: Core operating income attributable to earnout shares |
|
|
|
|
||||
Minus: Dividends attributable to restricted share awards |
- |
- |
- |
|
||||
Core operating income available to common shareholders (a) |
|
|
|
|
||||
Weighted average number of shares – diluted (in millions of shares) (b) |
43.1 |
45.7 |
43.8 |
45.7 |
||||
Diluted core operating earnings per share (a/b) |
|
|
|
|
v. Return on average equity (annualized) and core operating return on average equity (annualized), both non-GAAP financial measures, represent the returns generated on common shareholders’ equity during the period.
The Company has posted a Second Quarter 2023 investor presentation deck on its website at www.iginsure.com in the Investors section under the Presentations & Webcasts tab.
---
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
---
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 potential effects of the COVID-19 pandemic and emerging variants; (6) the effects of the hostilities between
View source version on businesswire.com: https://www.businesswire.com/news/home/20230815517168/en/
IGI Contacts:
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, AVP PR & Marketing
T: +96265662082 Ext. 407
M: +962770415540
Source: IGI
FAQ
What were the gross written premiums for IGI in Q2 2023?
How much did net premiums earned increase in Q2 2023 compared to Q2 2022?
What was the underwriting income for IGI in Q2 2023?