IGI, 2018 results: strong recovery after 2017 catastrophe losses

Dubai-based International General Insurance Holdings Limited (IGI) recorded USD 301.6 million in GWP, an increase of USD 26.3 million (+9.5%), at the end of 2018. Improvements were in the net result, as well as the combined operating ratio.

The net profit of the year was USD 26.5 mil. (+237%) and the net underwriting result USD 55.8 mil. (+123%). The total assets of the company increased in value to USD 907.4 mil. (+2.09%). The combined ratio decreased from 103.08% (2017) to 88.97%.

The Board of Directors proposed a total dividend of USD 0.07 per share for the financial year 2018, the equivalent to USD 10 million.

“Our solid performance is the result of excellent teams, well-diversified portfolios and the strong underwriting ethos we have spent the last 17 years building and developing at IGI,” said Wasef JABSHEH, Vice Chairman and CEO of IGI…

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