Welcome to our dedicated page for International General Insurance Holdings Ltd. Ordinary Share news (Ticker: IGIC), a resource for investors and traders seeking the latest updates and insights on International General Insurance Holdings Ltd. Ordinary Share stock.
International General Insurance Holdings Ltd. (symbol: IGIC) is a leading commercial insurer and reinsurer with a global footprint and a specialized focus on a wide array of specialty lines. Established in March 2002, the company has grown to become a significant player in the insurance sector, operating out of the Dubai International Financial Centre (DIFC) with additional offices in Bermuda, the United Kingdom, Jordan, and Malaysia.
IGIC underwrites a diverse portfolio that includes Energy, Property, Marine, Construction and Engineering, Financial Institutions, General Aviation, Casualty, Ports & Terminals, Political Violence, and non-proportional reinsurance treaty business, with a significant presence in Afro-Asian markets. This extensive portfolio allows the company to cater to a wide range of industries and client needs.
The principal underwriting entity for IGIC is IGI Bermuda, a Class 3B insurer regulated by the Bermuda Monetary Authority (BMA). The Bermuda office is complemented by IGI Underwriting Company Limited in Amman, Jordan, which provides essential management, underwriting, and operational functions. Reflecting its strong financial standing, IGI Bermuda boasts an A- (Excellent) rating with a stable outlook from A.M. Best Company.
IGIC's journey over the years has been marked by strategic growth and resilience, underscored by its commitment to providing top-tier insurance solutions. The company's primary business segments include Specialty Longtail, Specialty Short Tail, and Reinsurance, each addressing specific market needs with tailored products.
Recent news highlights IGIC's ongoing efforts to innovate and expand, including new partnerships and strategic initiatives aimed at enhancing their service offerings and market reach. Investors and stakeholders can rely on IGIC's robust performance and strategic vision to navigate the complexities of the insurance landscape.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission, featuring audited financial statements for the fiscal year ending December 31, 2022. The filing was completed on April 6, 2023, and the report is available on IGI's website and the SEC's site. IGI is recognized as a specialty risks commercial insurer and reinsurer with a diverse portfolio that includes energy, property, and marine trades. The company operates globally and has received strong ratings from AM Best and S&P Global Ratings.
IGI encourages interested parties to request hard copies of the annual report via email.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has declared a dividend of $0.01 per share for the period of October 1, 2022 to December 31, 2022. This dividend will be paid on April 21, 2023, to shareholders on record as of April 7, 2023. IGI operates as a specialty insurer, covering diverse lines including energy, property, and marine risks. The company is rated "A" (Excellent) by AM Best and "A-" (Strong) by S&P Global Ratings.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has completed the acquisition of Norway-based managing general agency Energy Insurance Oslo AS (EIO). This acquisition aims to expand IGI's existing energy and construction business portfolio in the Nordic markets. The subsidiary will be renamed IGI Nordic AS and is expected to enhance IGI's market presence. IGI has maintained an exclusive partnership with EIO since 2009, which has allowed them to write business in the region. This strategic move follows IGI's commitment to growth and service in specialty risk sectors.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) reported its financial results for Q4 and FY 2022, highlighting a strong growth trajectory despite industry challenges. Q4 profit rose to $25.7 million from $9.1 million in 2021, driven by a $10.8 million increase in net premiums earned and a significant uptick in investment income. For FY 2022, profit surged to $85.5 million, compared to $43.6 million in the prior year. Key metrics include gross written premiums of $581.8 million, a combined ratio of 78.5%, and an annualized return on equity of 20.6%. The company anticipates continued growth driven by favorable market conditions in 2023.
International General Insurance Holdings Ltd. (IGIC) announced it will release financial results for Q4 and the full year of 2022 on March 2, 2023, after U.S. markets close. An investor teleconference is scheduled for March 3, 2023, at 9:00 a.m. ET to discuss these results. The presentation will be available on the company’s website, and the call will include a Q&A session. IGI is a specialty commercial insurer with a strong portfolio across various sectors, including energy and aviation, and holds strong ratings from AM Best and S&P Global Ratings.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has repurchased 2,271,775 common shares for approximately $19.5 million at $8.60 per share. This buyback reduces the total shares outstanding to around 49 million, with 2.4 million remaining under an authorization to repurchase up to 5 million shares approved in May 2022. The repurchase is intended to enhance shareholder value by supporting stock price stability.
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