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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 announced a dividend of $0.01 per common share for the period July 1, 2022 to September 30, 2022. This dividend will be payable on December 14, 2022, to shareholders on record as of November 29, 2022.
IGI specializes in underwriting diverse specialty lines and operates from multiple locations globally. The company maintains strong ratings of “A” from AM Best and “A-” from S&P Global Ratings.
International General Insurance Holdings Ltd. (IGIC) reported strong financial results for Q3 and the first nine months of 2022, with gross written premiums reaching $120.6 million, up 4.6% year-over-year. Net underwriting results surged to $42.0 million, improving the combined ratio to 73.8%. Profit for the quarter was $18.6 million, compared to $16.1 million in 2021. Core operating income skyrocketed to $27.6 million, aided by favorable loss reserve developments. However, foreign exchange losses increased to $10.4 million, highlighting currency impact concerns. The company remains focused on profitable growth amid rising inflation.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) announced it will release its financial results for the third quarter and nine months ended September 30, 2022, on Thursday, November 10, 2022, after U.S. market close. The results, along with a presentation deck, will be available on the Company’s website. Notably, IGI is an international commercial insurer and reinsurer with a diverse specialty portfolio, rated 'A' (Excellent) by AM Best and 'A-' (Strong) by S&P Global Ratings.
International General Insurance Holdings Ltd. (IGIC) has appointed Christopher Jarvis as its Chief Underwriting Officer, effective immediately. Jarvis brings 30 years of industry experience, previously serving at Canopius Managing Agency. His role involves optimizing performances across existing portfolios and evaluating new business opportunities to support IGI's growth and profitability targets. The company, operational in various regions, positions itself as a specialist commercial insurer and reinsurer with a diverse portfolio and strong credit ratings from AM Best and S&P Global Ratings.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has declared a common share dividend of $0.01 per share, payable on September 20, 2022, for the period from April 1, 2022 to June 30, 2022. Shareholders of record will be those on the books as of September 5, 2022, with IGIC's shares going ex-dividend on September 2, 2022. IGI specializes in underwriting a diverse portfolio of specialty lines and is rated “A” by AM Best and “A-” by S&P Global Ratings, demonstrating solid financial health.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) announced strong financial results for Q2 and H1 2022. Gross written premiums rose to $176.4 million, up 6.2% from 2021. Net premiums earned reached $95.8 million, yielding a profit of $21.8 million for Q2, compared to $8.2 million in Q2 2021. The combined ratio improved to 74.8% from 92.3%, reflecting enhanced underwriting performance. Core operating income surged to $29.4 million, driven by increased net premiums and favorable loss reserve developments. Despite foreign exchange losses of $9.2 million, the outlook remains optimistic due to solid capital and growth strategies.
International General Insurance Holdings Ltd. (IGIC) has signed a non-binding letter of intent to acquire Energy Insurance Oslo AS (EIO), a managing general agency in Norway. The transaction involves acquiring 100% of EIO's shares, subject to due diligence and regulatory approval. Following the acquisition, EIO is expected to be renamed International General Insurance Company (IGI Norway) and will operate as a wholly-owned subsidiary of IGI. This move aims to enhance IGI's footprint in Scandinavian markets and build upon a successful partnership that has existed since 2009.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) will release its financial results for the second quarter and half year ended June 30, 2022, on August 18, 2022, after U.S. market closure. The results and an accompanying slide presentation will be available on the company's website. An investor teleconference is scheduled for August 19, 2022, at 9:00 AM Eastern time, allowing for Q&A regarding these results. IGI specializes in a wide range of insurance and reinsurance lines and holds strong ratings from AM Best and S&P Global Ratings.
International General Insurance Holdings Ltd. (Nasdaq: IGIC) announced a new capital management plan, including a quarterly dividend of $0.01 per share and an increased share repurchase authorization for up to 5 million shares. This initiative reflects IGI's commitment to enhancing shareholder value through dividends and buybacks. The dividend is payable on June 22, 2022, to shareholders of record by June 6, 2022. The share repurchase replaces an earlier authorization of $5 million, allowing for more flexible capital management.
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