IGI Expands Global Footprint as it Secures License to Operate in India’s Gujarat International Finance Tec-City (GIFT City)

Key Terms

reinsurance financial

Reinsurance is when insurance companies buy insurance for themselves to protect against very big losses. It’s like a car owner getting extra coverage from another company so that if there's a serious accident, the financial hit isn’t all on one company. This helps insurance companies stay stable and able to pay out when disasters happen.

facultative financial

Facultative means optional or done case-by-case rather than automatically. For investors, it signals that a decision — such as offering reinsurance, granting an exception, or taking a business action — is made individually for each situation, which affects how predictable costs and risks are; think of it like choosing to insure one valuable item separately instead of buying a single policy that covers everything.

treaty reinsurance financial

Treaty reinsurance is an ongoing contract in which one insurance company automatically transfers a whole class or portfolio of policies to another insurer, with both parties sharing premiums and losses according to pre-set terms. It matters to investors because it reduces and smooths an insurer’s exposure to large or unpredictable claims, affects required capital and reported profitability, and enables the company to write more business without taking on all the risk—like a store sharing inventory risk with a partner.

cedants financial

Cedants are insurance companies or entities that transfer some of their insurance policies’ financial risk to a reinsurer, much like a contractor passing part of a big job to a subcontractor. For investors, cedants matter because the amount and terms of risk they cede affect their exposure to large losses, required capital, profit volatility and the reliability of future earnings, so changes in cedant behavior can signal shifts in an insurer’s financial strength.

international financial services centre regulatory

An international financial services centre is a designated place or jurisdiction that attracts banks, insurers, asset managers and other finance firms by offering simpler rules, tax incentives and specialized services tailored for cross-border business. For investors it matters because these hubs concentrate capital, liquidity and market access—like an airport that connects many routes—making transactions cheaper and opening global opportunities, though they can carry different regulatory or political risks than mainstream markets.

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HAMILTON, Bermuda--(BUSINESS WIRE)-- International General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced that it has secured registration approval from the International Financial Services Centres Authority (IFSCA) to operate an IFSCA Insurance Office (IIO) in India’s Gujarat International Finance Tec-City (“GIFT City”), India’s first and only operational international financial services centre. IGI’s India operation is a reinsurance branch of IGI’s UK subsidiary, International General Insurance Company (UK) Ltd.

IGI expects to open a branch office in GIFT City, build out its India team and begin operations later this year. This adds to IGI’s regional offices in Oslo, Malta, Dubai, Casablanca and Kuala Lumpur as well as its principal offices in Bermuda, London and Amman.

IGI President & CEO Waleed Jabsheh said, “This is a significant milestone for IGI as it expands our global footprint, strengthening our presence in the Indian sub-continent, and provides a long-term opportunity in one of the world’s fastest growing economies. This also furthers our diversification, and our strategy of having a physical presence in our key regions around the world. We look forward to building a strong local team and supporting both facultative and specialty treaty reinsurance clients in this fast-growing region.”

“GIFT City IFSC offers an innovative, well-regulated platform that opens up new opportunities for IGI to develop globally-integrated facultative and specialty treaty reinsurance capabilities in close collaboration with a vibrant ecosystem of cedants and brokers.”

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 “ability,” “aim,” “focus”, “impact,” “seek,” “strategy,” “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “commitment,” “able,” “success” 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 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) risks related to fluctuations in global currencies including the UK Pound Sterling, the Euro, and the U.S. Dollar; (5) the outcome of any legal proceedings that may be instituted against the Company; (6) 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; (7) the effects of military conflicts in the Middle East, including disruptions in the Strait of Hormuz and Persian Gulf and potential disruption of Red Sea international shipping routes; (8) the impact of the tariffs that have been imposed or may be imposed by the U.S. administration; (9) the potential impact of artificial intelligence technologies on the insurance industry and the ability of IGI to effectively deploy AI technologies; (10) the inability to maintain the listing of the Company’s common shares on Nasdaq; and (11) 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 it is required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260608431690/en/

IGI Investor & Media Contacts:
Robin Sidders, Head of Corporate Relations
Email: robin.sidders@iginsure.com

Ahmad Jabsheh, AVP, Corporate Relations
Email: ahmad.jabsheh@iginsure.com

Source: International General Insurance Holdings Ltd.