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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) reported strong first-quarter 2022 results, highlighting a 50% increase in net underwriting results and 90% growth in profit, reaching $19.4 million compared to $10.2 million in Q1 2021. Gross written premiums grew by 27.3% to $128.1 million. The combined ratio improved to 72.2% from 84.6%. Core operating income rose 64% to $23.9 million, while core operating return on average equity expanded to 24.1%. Despite inflationary pressures and foreign exchange losses of $3.5 million, IGI remains optimistic about favorable market conditions for continued profitable growth.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) will report its first quarter 2022 financial results on May 19, 2022, after the U.S. financial markets close. The results will be accompanied by a slide presentation available on the Company's website. IGI is a specialist insurer and reinsurer, operating globally with a portfolio that includes energy, property, marine, and casualty lines. Rated 'A' (Excellent) by AM Best and 'A-' by S&P Global Ratings, IGI aims to provide exceptional service to clients and brokers.
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 year ended December 31, 2021. The filing occurred on April 1, 2022, and the report is accessible on IGI's website as well as the SEC’s site. Established in 2001, IGI specializes in a variety of insurance and reinsurance services and holds strong ratings from AM Best and S&P Global Ratings.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has declared an ordinary common share dividend of $0.19 per share for the period from July 1, 2021 to December 31, 2021. The dividend will be payable on April 20, 2022 to shareholders of record on April 5, 2022, with an ex-dividend date of April 4, 2022.
International General Insurance Holdings Ltd. (IGIC) reported strong financial results for Q4 and FY 2021. Q4 gross written premiums increased by 26.3% to $163.5 million, while full-year gross premiums rose 16.8% to $545.6 million. Profit for Q4 reached $9.1 million, up from $7.6 million, with an annual profit of $43.6 million, a significant rise from $27.2 million in 2020. The combined ratio improved to 83.8% for Q4 and 86.4% for the year, underscoring effective underwriting and risk management. Core operating earnings per share climbed to $1.09 for the year, reflecting robust growth and operational efficiency.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) will release its fourth quarter and full year 2021 financial results on March 3, 2022, after U.S. markets close. An investor teleconference is scheduled for March 4, 2022, at 9:00 a.m. ET to discuss the results, which will also be available via a live webcast on the company's website. IGI operates a diverse portfolio in specialty insurance and is rated 'A' (Excellent) by AM Best, indicating strong performance and stability.
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.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) reported strong financial results for Q3 and the first nine months of 2021. Gross written premiums increased by 13.9% to $115.3 million in Q3 and 13.1% to $382.1 million year-to-date. Net profit rose to $16.1 million for Q3 and $34.5 million year-to-date. The company's combined ratio improved to 85.0% from 93.7% in Q3 2020. Core operating income surged 140.6% year-over-year to $15.4 million in Q3. Despite some easing in rate momentum, attractive market opportunities are noted, particularly in Europe.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) announced that AM Best has reaffirmed its financial strength ratings at A (Excellent) with a Stable outlook. The ratings reflect IGI’s strong consolidated balance sheet and robust underwriting performance. Chairman and CEO Wasef Jabsheh noted the firm's strategic expansion into Europe, emphasizing its focus on maintaining quality profitable underwriting. IGI is recognized as a specialist commercial insurer with a diverse portfolio across various sectors and regions.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) will announce its third-quarter and nine-month financial results for 2021 on November 11, 2021, after U.S. market close. The results will be posted on their website. Established in 2001 and based in Bermuda, IGI specializes in underwriting diverse commercial insurance and reinsurance products, with a global presence. The company holds 'A' (Excellent) rating from AM Best and 'A-' from S&P Global Ratings, indicating strong financial stability.
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