International General Insurance Holdings Ltd. reports developments for an international specialty risks commercial insurer and reinsurer underwriting energy, property, construction and engineering, ports and terminals, general aviation, marine, political violence, financial institutions, professional indemnity, D&O and treaty reinsurance business. Its operating disclosures commonly discuss the Specialty Longtail, Specialty Short-tail and Reinsurance segments, with premiums, underwriting income, combined ratio, net investment income and book value measures.
Company updates also include ordinary and extraordinary common share dividends, annual Form 20-F filing announcements, investor presentations and board or committee changes. IGI is registered in Bermuda and operates across insurance-market hubs including Bermuda, London, Malta, Dubai, Amman, Oslo, Kuala Lumpur and Casablanca.
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.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) announced it will file restated consolidated financial statements for the year ending December 31, 2020, due to SEC guidance on SPAC warrant accounting. The restatement results in a $4.4 million decrease in net income and a $13.6 million increase in total liabilities as of December 31, 2020. No impact on liquidity or cash flows is expected. IGI's Chairman reassured that this revision does not affect the company’s financial strength or previously communicated income figures.
On October 9, 2023, International General Insurance Holdings Ltd. (NASDAQ: IGIC) appointed Manpreet Kaur Gill as the Asia Pacific Financial and Professional Lines Underwriter, based in Kuala Lumpur. With 24 years of experience, including leadership roles at QBE Malaysia and AIG Malaysia, her appointment aims to enhance IGI's presence in the Financial and Professional Lines market in the Asia Pacific region. CEO Nick Garrity highlighted the increasing demand for their services, signifying growth opportunities for IGI.
International General Insurance Holdings Ltd. (IGIC) announced that its European subsidiary, IGI Europe, has received financial strength ratings from S&P Global Ratings and AM Best. S&P assigned an 'A-' rating, while AM Best assigned an 'A' rating, both with stable outlooks. These ratings enhance IGI Europe's position in the European market, where it began operations in July 2021. CEO Keith Mallia-Milanes emphasized the strategic importance of these ratings and expressed optimism about the company's growth potential in Europe.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) reported its Q2 and H1 2021 financial results, highlighting a 21% growth in gross written premiums to $166.1 million from $137.3 million in Q2 2020. However, net profit decreased to $5.6 million from $12.0 million year-on-year. The combined ratio rose to 92.3% from 84.0%, reflecting increased loss ratios. Core operating income was $9.0 million, down from $10.3 million in Q2 2020. Despite these challenges, the company grew its book value per share by 1.9% year-to-date and announced a dividend of $0.16 per share.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) has declared a cash dividend of $0.16 per share for the period from January 1 to June 30, 2021. This dividend is payable on September 7, 2021 to shareholders recorded by August 23, 2021, and IGIC will trade ex-dividend starting August 20, 2021. IGI provides a diverse range of specialty insurance and reinsurance services globally and maintains strong ratings from AM Best and S&P Global Ratings.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) announced it will release its financial results for the second quarter and half year ending June 30, 2021, on August 12, 2021, after market close. An investor teleconference will follow on August 13, 2021, at 9:00 a.m. Eastern time for discussion of the results. Participants can join via phone or listen to a live webcast available on the company’s website, which will also host an archived version.
IGI is an international specialty insurer and reinsurer with a diverse portfolio and strong ratings from AM Best and S&P Global Ratings.