International General Insurance Holdings (IGIC) Company Report

International General Insurance Holdings Ltd. (IGIC) reported total assets of $2.1 billion and a capital base of $687 million as of September 30, 2025, maintaining an A (Stable Outlook) financial strength rating.
The company demonstrated a 10-year average core Return on Equity (ROE) of 14.0% and a 10-year average combined ratio of 87.0% for the period 2015-2024, with its specialist underwriting strategy providing a ~4 point combined ratio advantage relative to the industry.
IGIC has a history of returning capital to shareholders, including a quarterly common share dividend of $0.05 as of 2024 , and a new 5 million share repurchase authorization announced in October 2025, following the repurchase of 7.5 million common shares between 2022 and September 30, 2025.
The company manages a diversified portfolio of global specialty risks and a $1.316 billion investment portfolio (as of September 30, 2025) primarily composed of 79% fixed income securities with an average credit quality of A and a duration of 3.7 years.

Nov 19, 2025, 9:40 PM

6-K

IGIC Discusses Disciplined Growth Strategy and Financial Performance at Southwest Ideas Conference

IGIC

Guidance Update

Share Buyback

International General Insurance Holdings (IGIC) is a global specialist insurance and reinsurance company that has grown from $25 million in capital in 2002 to a $700 million capital base with 470-480 employees across eight worldwide offices.
The company emphasizes a disciplined, methodical growth strategy, prioritizing profitability over top-line growth and actively managing market cycles by shifting focus across its 25 diverse lines of business (reinsurance, short tail, long tail).
IGIC targets a combined ratio in the mid-to-high 80s and a Return on Equity (ROE) of low-to-mid teens over a 10-year cycle, consistently outperforming peers and recently receiving an S&P financial rating upgrade from A minus to a full A.
The company maintains a conservative investment philosophy with a plain vanilla fixed income portfolio and has been actively engaged in capital management, including a share buyback program that has repurchased 7.5 million shares since 2022, with a new authorization for an additional 5 million shares, as management believes the stock is undervalued.

Nov 19, 2025, 3:15 PM

Transcript

IGIC CEO Discusses Global Specialist Insurance Strategy and Financial Performance

IGIC

Guidance Update

Share Buyback

Waleed Jabsheh, CEO since 2023, leads International General Insurance Holdings (IGIC), a global specialist insurance and reinsurance company that has grown its capital base to approximately $700 million since its founding in 2002.
IGIC employs a disciplined, methodical growth strategy, utilizing a diversified portfolio of almost 25 different lines and sublines across reinsurance, short tail, and long tail segments to actively manage market cycles and shift focus to areas with the best opportunities.
The company has consistently delivered results in the top 10-15% of the global insurance and reinsurance marketplace, outperforming its peer group by 4 points on a combined ratio basis. IGIC targets a combined ratio in the mid-to-high 80s and a return on equity in the low-to-mid teens over a 10-year cycle.
IGIC's financial rating was recently upgraded by S&P from A minus to a full A. The company has authorized share buyback programs, repurchasing 7.5 million shares since 2022 and authorizing another 5 million recently, believing its stock is undervalued. Its investment philosophy is conservative, primarily in fixed income, with equities representing less than 2% of its portfolio.

Nov 19, 2025, 3:15 PM

Transcript

International General Insurance Holdings (IGIC) Discusses Growth Strategy, Performance, and Capital Management

IGIC

Share Buyback

New Projects/Investments

International General Insurance Holdings (IGIC) is a global specialist insurance and reinsurance company that has grown its capital base from $25 million to $700 million since its inception in 2002, now writing almost 25 different lines of business across three segments and operating from eight offices worldwide.
The company employs a disciplined, methodical growth strategy, prioritizing value creation over top-line growth, and actively manages industry cyclicality by shifting focus to areas offering the best opportunities. IGIC has consistently delivered results in the top 10%-15% of the global market and recently received an S&P financial rating upgrade to a full A.
IGIC aims for a combined ratio in the mid-to-high 80s and a return on equity (ROE) of low-to-mid teens over a 10-year cycle. While recent years have seen better results, with combined ratios in the mid-to-high 70s and ROEs in the low-to-mid 20s, these are considered above average.
The company has an active share buyback program, having repurchased 7.5 million shares since 2022 and recently authorizing an additional 5 million shares, believing its stock to be undervalued.

Nov 19, 2025, 3:15 PM

Transcript

IGIC Highlights Strong Financial Performance and Capital Management

IGIC

Dividends

Share Buyback

CEO Change

IGIC reported $700 million in gross written premium for full year 2024 and $2.1 billion in total assets as of September 30, 2025. The company achieved a 10-year average combined ratio of 87.0% and a 10-year average Core ROE of 14.0% for the period 2015-2024, supported by strong financial strength ratings of A (Excellent) by A.M. Best and A (Stable Outlook) by S&P Global Ratings.
The company actively manages capital, increasing its quarterly common share dividend to $0.025 and its share repurchase authorization to 7.5 million common shares in 2025, following a special dividend of $0.50 per share in 2024.
Waleed Jabsheh was named CEO in 2024, succeeding Wasef Jabsheh, who became Executive Chairman.
IGIC's investment portfolio totaled $1.316 billion as of September 30, 2025, with 79% allocated to fixed income securities and an average credit quality of A.

Nov 19, 2025, 3:15 PM

Presentation

IGIC Reports Strong Q3 2025 Results, S&P Rating Upgrade, and New Share Buyback Authorization

IGIC

Earnings

Share Buyback

Dividends

International General Insurance Holdings (IGIC) reported net income of $33.5 million for Q3 2025 and $94.9 million for the first nine months of 2025, achieving an annualized return on average equity of 20% for Q3 and 19% for the first nine months.
The company's S&P Financial Strength Rating was upgraded to A with a stable outlook. Book value per share grew by almost 10% to $16.23 in the first nine months of 2025, and approximately $98 million was returned to shareholders through dividends and share repurchases. A new $5 million common share repurchase authorization was approved after exhausting the prior $7.5 million program.
Gross premiums written in Q3 2025 decreased by 5% to $131 million, primarily due to lower volume in the reinsurance and long-tail segments, while net premiums earned were $115 million. The combined ratio for Q3 was 76.5%, benefiting from positive currency revaluation.
Management noted increasing competitive pressures but maintained a disciplined underwriting approach, focusing on higher-margin areas like the reinsurance segment, which saw underwriting income increase by 35% in Q3 and almost 50% for the first nine months of 2025.

Nov 5, 2025, 2:00 PM

Transcript

IGIC Reports Q3 2025 Financial Results

IGIC

Earnings

Dividends

Share Buyback

IGIC reported net income of $33.5 million for Q3 2025, a 2.9% decrease compared to Q3 2024, and $94.9 million for the first nine months of 2025, a 9.7% decrease from the prior year period.
The company achieved an annualized Return on Equity (ROE) of 19.9% for Q3 2025 and 18.9% for the first nine months of 2025.
IGIC's combined ratio was 76.5% in Q3 2025, with underwriting income reaching $51.4 million, a 24.2% increase over Q3 2024. For the first nine months of 2025, the combined ratio was 87.1% and underwriting income was $114.3 million.
Book value per share increased to $16.23 as of September 30, 2025, representing a 9.3% increase from December 31, 2024.
The company returned $20.9 million to shareholders in Q3 2025 through dividends and the repurchase of 790,000 shares, fully utilizing its 7.5 million share repurchase authorization.

Nov 5, 2025, 2:00 PM

Presentation

IGI Announces New 5 Million Common Share Repurchase Authorization

IGIC

Share Buyback

International General Insurance Holdings Ltd. (IGI) announced on November 5, 2025, that its Board of Directors approved a new authorization to repurchase up to 5 million of the Company’s issued and outstanding common stock.
This new common share repurchase authorization replaces a previous 7.5 million authorization which has been exhausted.

Nov 5, 2025, 1:55 PM

6-K

International General Insurance Holdings Ltd. Reports Q3 2025 Financial Results

IGIC

Earnings

Dividends

Share Buyback

International General Insurance Holdings Ltd. reported a Book Value per Share of $16.23 as of September 30, 2025, representing a 5.7% increase from June 30, 2025.
For Q3 2025, the company achieved net income of $33.5 million and underwriting income of $51.4 million, with a combined ratio of 76.5%. Year-to-date through September 30, 2025, net income was $94.9 million and underwriting income was $114.3 million, with a combined ratio of 87.1%.
The company returned $20.9 million to shareholders in Q3 2025 and $97.9 million year-to-date through September 30, 2025, via dividends and share repurchases, including an $0.85 extraordinary dividend in Q1.
IGIC's specialist underwriting strategy has historically provided a ~4 point combined ratio advantage relative to industry peers.

Nov 4, 2025, 9:38 PM

6-K

IGIC Announces Q3 and Nine-Month 2025 Results and Ratings Upgrade

IGIC

Earnings

Dividends

Share Buyback

International General Insurance Holdings Ltd. (IGIC) reported strong third-quarter 2025 financial results with net income of $33.5 million, a combined ratio of 76.5%, and an annualized return on average equity of 19.9%.
For the first nine months of 2025, the company's net income was $94.9 million and diluted earnings per share were $2.14.
During the first nine months of 2025, IGIC grew its book value per share by 9.3% and returned $98 million to shareholders through dividends and share repurchases.
The company's financial strength rating was upgraded to "A" (Strong)/Stable by S&P Global Ratings.