Welcome to our dedicated page for Intl Gnrl Insurance Hldngs news (Ticker: IGIC), a resource for investors and traders seeking the latest updates and insights on Intl Gnrl Insurance Hldngs stock.
International General Insurance Holdings Ltd. (IGI) (NASDAQ: IGIC) is an international specialty risks commercial insurer and reinsurer that regularly publishes detailed updates on its business through press releases and SEC filings. This news page aggregates coverage of IGI’s announcements so readers can review how the company’s specialty insurance and reinsurance activities evolve over time.
IGI’s news flow often centers on its financial performance and capital management. The company issues releases on quarterly and year-to-date unaudited financial results, highlighting gross written premiums, net premiums earned, underwriting income, loss ratios, combined ratios, investment income, net income and segment performance across its Specialty Short-tail, Specialty Long-tail and Reinsurance segments. These updates also discuss the impact of catastrophe losses and currency revaluation movements on results.
Investors following IGIC can also find announcements on ordinary common share dividends, common share repurchase authorizations, and the use of existing repurchase programs. News items describe dividend amounts for specific periods, payment and record dates, and changes to share repurchase authorizations, as well as commentary on book value per share and total shareholders’ equity.
Other recurring topics in IGI’s news include credit rating actions from AM Best and S&P Global Ratings, management appointments, investor conference participation, and the scheduling of earnings releases and investor teleconferences. The company also releases information about investor presentations and webcasts that accompany its financial disclosures.
By reviewing the IGIC news feed on this page, readers can track how IGI communicates its specialty lines portfolio performance, capital allocation decisions, rating developments and corporate governance events. This provides a centralized view of the company’s public updates for those researching International General Insurance Holdings Ltd. and its Nasdaq-listed shares.
IGI (NASDAQ: IGIC) reported strong financial results for Q4 and full year 2024. The company achieved a combined ratio of 79.9% and delivered record net income of $135.2 million for FY2024, a 14.4% increase from $118.2 million in 2023.
Key highlights include:
- Q4 2024 net income: $30.0 million
- Return on average equity: 22.6% for FY2024
- Gross written premiums increased 5.9% to $174.6 million in Q4 2024
- Book value per share grew by almost 20%
- Total shareholders' equity reached $654.8 million by December 31, 2024
The company returned nearly $50 million to shareholders through dividends and share repurchases in 2024. Investment income increased 28.5% to $51.9 million for FY2024, with an investment yield of 4.3%.
International General Insurance Holdings (NASDAQ: IGIC) has announced it will release its fourth quarter and full year 2024 financial results on Tuesday, February 25, 2025, after U.S. market close. The company will provide the results and an accompanying slide presentation on their website's Investors section.
IGI will host an investor teleconference with a Q&A session on Wednesday, February 26, 2025, at 9:00 a.m. Eastern time. Investors can access the call by dialing 1-844-881-0137 (U.S.) or 1-412-902-6508 (international). A live webcast will be available on IGI's website and archived in the Investors section.
International General Insurance Holdings (NASDAQ: IGIC) has announced that President & CEO Waleed Jabsheh will deliver a presentation at the 16th Annual Southwest IDEAS Investor Conference in Dallas, Texas. The presentation is scheduled for November 20, 2024, at 3:30 PM Central Time (4:30 PM Eastern) at The Statler.
Investors can access the webcast through the conference host's website and IGI's investor relations page. This marks an important opportunity for the company to engage with investors and share its business updates.
International General Insurance Holdings (NASDAQ: IGIC) has declared a quarterly ordinary common share dividend of $0.025 per share for the period July 1, 2024 – September 30, 2024. The dividend will be paid on December 18, 2024 to shareholders of record as of the close of business on December 3, 2024.
IGI reported strong Q3 2024 financial results with net income of $34.5 million, up from $10.9 million in Q3 2023. The company achieved a combined ratio of 86.0% and return on equity of 22.3%. Gross written premiums were $138.3 million, down from $150.3 million in Q3 2023. Net investment income increased to $11.5 million from $9.0 million. Total shareholders' equity grew to $651.6 million, a 20.6% increase from December 2023. Book value per share increased 18.6% to $14.71. The company continued its share repurchase program and paid $25 million in dividends year-to-date.
IGI Holdings (NASDAQ: IGIC) announced the relocation of its London operations to the 15th floor of the 'Walkie-Talkie' Building at 20 Fenchurch Street, effective October 28, 2024. The move reflects the company's growth and commitment to the London market. The new office will house over 130 employees, including 60 underwriters covering various business lines such as Energy, Property, Aviation, Construction, Marine, and Financial services. According to CEO Waleed Jabsheh, the relocation will enhance team collaboration and client engagement by consolidating all personnel on a single floor.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) for International General Insurance Co. (IGICL), International General Insurance Company (UK) (IGIUK), and International General Insurance Company (Europe) (IGI Europe). The Long-Term ICR of "bbb" (Good) for International General Insurance Holdings (IGI) [NASDAQ: IGIC] was also affirmed. The outlook for these ratings is stable.
The ratings reflect IGI's very strong balance sheet strength, strong operating performance, business profile, and appropriate enterprise risk management. IGI's risk-adjusted capitalisation is assessed at the strongest level, supported by a strong liquidity position and conservative investment portfolio. The company has demonstrated strong profitability with a five-year (2019-2023) weighted average return-on-equity ratio of 16% and a combined ratio below 85%.
International General Insurance Holdings (NASDAQ: IGIC) has announced the release date for its third quarter and first nine months of 2024 financial results. The company will publish these results on Tuesday, November 5, 2024, after the U.S. financial markets close. IGI will also host an investor teleconference on Wednesday, November 6, 2024, at 9:00 a.m. Eastern time to discuss the financial results.
The results and an accompanying slide presentation will be available in the Investors section of IGI's website at www.iginsure.com. Investors can access the teleconference by dialing 1-844-881-0137 (U.S. callers) or 1-412-902-6508 (international callers) and requesting to join the IGI call. A live, listen-only webcast will also be available on the company's website and archived for future reference.
IGI (NASDAQ: IGIC) has announced a quarterly dividend of $0.025 per share for its ordinary common shares. This dividend covers the period from April 1, 2024, to June 30, 2024. Shareholders who are on record as of the close of business on September 2, 2024, will receive the dividend payment on September 18, 2024. This announcement demonstrates IGI's commitment to providing regular returns to its shareholders, which could be seen as a positive sign of the company's financial stability and confidence in its future performance.
International General Insurance Holdings (NASDAQ: IGIC) reported its unaudited financial results for Q2 and H1 2024.
For Q2 2024, IGIC recorded gross written premiums of $205.6M, a 3% increase from $199.6M in Q2 2023. Net premiums earned were $121.8M, up from $118.4M the previous year. However, net income dropped to $32.8M from $40.5M, with a diluted EPS of $0.73 compared to $0.88 in Q2 2023. The combined ratio rose to 81.2% from 73.5% due to higher loss and expense ratios.
For the first six months of 2024, gross written premiums grew by 3.7% to $387.2M. Net premiums earned were $236.4M, an increase from $223.4M in H1 2023. Net income decreased to $70.7M from $74.4M, with a diluted EPS of $1.55 compared to $1.59. The combined ratio increased to 77.7% from 75.7%.
The company highlighted strong performance in the Reinsurance and Short-tail segments. However, the increased combined ratio reflects higher loss and administrative expense ratios. Total shareholders' equity rose to $588.2M, with a book value per share of $13.31.