International General Insurance Holdings Ltd. Earnings Recaps
Q1 2026
May 7, 2026
The 3.0% stock gain reflects modest investor approval of IGI’s disciplined underwriting amid challenging conditions, with resilience shown in improved underwriting income and combined ratio despite geopolitical headwinds and a decline in premiums.
Key takeaways
- Gross written premiums declined 4.5% year-over-year to $197.2 million, influenced by cycle management and the nonrenewal of two reinsurance programs.
- Underwriting income rose 35.1% to $37.7 million, driving an improved combined ratio of 89.1%, down 5.3 points from Q1 2025 and in line with long-term averages.
- The combined ratio included about $15 million of net losses related to the Middle East conflict, alongside 29 points of favorable prior year reserve development.
- Return on average equity stood at 12.7%, with core ROE at 14.3%, consistent with historical performance.
- Book value per share slightly declined to $15.60 after nearly $65 million was returned to shareholders through dividends and share repurchases.
Q3 2025
Nov 6, 2025
International General Insurance Holdings (IGI) reported strong financial results for Q3 and YTD 2025, with net income of $33.5 million for the quarter and $94.9 million for the first nine months, while achieving a noteworthy S&P rating upgrade to A.
Key takeaways
- Net income for Q3 and YTD increased to $33.5 million and $94.9 million respectively, with annualized ROE of 20% and 19%.
- Shareholder returns close to $100 million through dividends and share repurchases, with a new $5 million share repurchase program announced.
- Gross premiums written in Q3 decreased by 5% to over $131 million, influenced by competitive pressures particularly in the reinsurance segment.
- Book value per share grew nearly 10% to $16.23 as of September 2025, reflecting the company's strong capital management strategy.
- The S&P financial rating upgrade to A is expected to enhance business opportunities moving forward.