IGI reports Q4 and full year 2022 condensed and unaudited financial results
Authored by IGI
International General Insurance Holdings Ltd. (IGI) has reported financial results for the fourth quarter and full year of 2022.
IGI Chairman and CEO Mr. Wasef Jabsheh said, “IGI finished its 20th anniversary year with excellent results across the board, marked by continued profitable growth, diversification and consistent execution of our strategy, reflected in a 78.5% combined ratio and 22.7% core operating return on average shareholders’ equity for the full year. This is particularly gratifying given the many challenges our industry faced during 2022, including significant natural catastrophes, rising financial and social inflation, currency volatility, and political instability.”
“So far in 2023, the market overall continues to be robust, though there remains wide variation in terms and conditions by line of business and geography. We expect the dislocation in reinsurance markets that was evident in the lead up to the January renewals will result in plenty of opportunity for us to continue to achieve profitable growth.”
“While our industry continues to be challenged on many levels, IGI, as always, remains focused on consistently executing our strategy, growing our company, and being a reliable and trusted partner to our clients. We have a demonstrated ability to successfully manage the cyclicality and inherent volatility of our business. We are excited and confident about our future and to continuing our commitment to delivering value to our customers and our shareholders over the long term”.
To view IGI’s full results CLICK HERE
Established in 2001, International General Insurance (IGI) is a global privately-owned specialist commercial insurer and reinsurer. Our vision is to be the company of choice for clients and brokers through market-leading service and our reputation for stable management and capital security.
A diverse and highly experienced team of underwriters operates our office in London. We also have offices in Dubai, Amman, Casablanca and Kuala Lumpur.
Our diverse portfolio of specialty lines includes Energy, Property, Construction & Engineering, Ports & Terminals, Financial Institutions, Aviation, Professional Indemnity, Political Violence, Legal Expenses, D&O, Casualty, Forestry and Treaty Reinsurance.
Standard and Poor’s upgraded our financial strength rating to “A- “, with a Stable outlook. A.M. Best rated the company A- (Excellent), with a Positive outlook, stating, “the revised outlook reflects IGI’s consistent record of very strong operating performance and the continuous improvement in its enterprise risk management framework.”
We take pride in providing proactive claims management, coupled with open communication, leading to the efficient handling of claims. We endeavour to act fairly and honourably in our relations with clients and brokers.