IGI Announces that it has Filed its Full Year 2023 Annual Report on Form 20-F, including Audited Financial Statements, with the SEC

Rhea-AI Summary

IGI files Annual Report on Form 20-F with the SEC for the year ended December 31, 2023.

Financial Analyst

The filing of an Annual Report on Form 20-F by International General Insurance Holdings Ltd. represents a key disclosure of financial health and operational performance. Analyzing the audited financial statements, stakeholders can assess the company's profitability, liquidity and solvency. The significance lies in the details of revenue growth, expense management and claims ratios, which are indicators of the company's efficiency and competitive positioning.

Investors should scrutinize the underwriting performance and investment income to gauge potential future cash flows. It's also essential to compare these figures against industry benchmarks to determine if IGI is outperforming or underperforming its peers. This analysis can influence investor confidence and impact the stock's performance in both the short and long term.

Insurance Industry Analyst

IGI operates in a complex regulatory environment and the release of its audited financial statements provides transparency into its adherence to regulatory requirements. It's important to evaluate the company's risk management strategies, including its reinsurance arrangements and reserves for future claims.

Understanding the trends in claims can signal the effectiveness of IGI's risk assessment and premium setting. Additionally, the impact of global events, such as natural disasters or economic shifts, on IGI's business is critical to assess for future risk exposure. This information can offer insights into the insurer's stability and its ability to navigate the cyclical nature of the insurance industry.

Market Research Analyst

From a market perspective, the filing provides a snapshot of IGI's market share and growth opportunities. By dissecting the geographic and product line breakdowns within the report, one can determine where IGI is focusing its efforts and which markets are most lucrative.

Particularly, the investor community will be interested in any strategic initiatives or expansions that could drive future growth. It's also beneficial to analyze customer retention and acquisition strategies, as these are key drivers of sustainable growth in the insurance sector. This level of analysis can help investors identify potential value and growth prospects that may not be immediately apparent from top-line numbers alone.

HAMILTON, Bermuda--(BUSINESS WIRE)-- International General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced that it has filed its Annual Report on Form 20-F, which includes the Company’s audited financial statements for the year ended December 31, 2023, with the U.S. Securities and Exchange Commission (“SEC”).

The report was filed on April 8, 2024 and can be found on IGI’s website at www.iginsure.com in the Investors section under SEC Filings or on the SEC’s website at www.sec.gov.

Hard copies of the annual report may be obtained, free of charge, by emailing a request to Investor Relations at robin.sidders@iginsure.com.

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 Bermuda, with operations in Bermuda, London, Malta, Dubai, Amman, Oslo, Kuala Lumpur 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-”(Strong)/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,” “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 effects of the hostilities between Russia and Ukraine and the sanctions imposed on Russia by the United States, European Union, United Kingdom and others; (6) the effects of the war between Israel and Hamas; (7) the inability to maintain the listing of the Company’s common shares on Nasdaq; and (8) 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 except to the extent that is required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240410578714/en/

IGI:

Investors:

Robin Sidders, Head of Investor Relations

M: + 44 (0) 7384 514785

Email: robin.sidders@iginsure.com



Media:

Aaida Abu Jaber, AVP PR & Marketing

T: +96265662082 Ext. 407

M: +962770415540

Email: aaida.abujaber@iginsure.com

Source: International General Insurance

When did IGI file its Annual Report on Form 20-F?

IGI filed its Annual Report on Form 20-F on April 8, 2024.

Where can I find IGI's Annual Report on Form 20-F?

IGI's Annual Report on Form 20-F can be found on IGI's website at www.iginsure.com in the Investors section under SEC Filings or on the SEC's website at www.sec.gov.

How can I obtain a hard copy of IGI's annual report?

Hard copies of the annual report may be obtained, free of charge, by emailing a request to Investor Relations at robin.sidders@iginsure.com.