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Financial Data and Key Metrics Changes - The company reported net income of $33.5 million for Q3 2025 and $94.9 million for the first nine months, resulting in an annualized return on average equity of 20% for Q3 and 19% for the first nine months [5][24] - Book value per share grew by almost 10% to $16.23 in the first nine months of 2025, with total equity reaching just under $690 million [6][24] - The combined ratio for Q3 was 76.5%, significantly improved from 86% in Q3 of the previous year, while the combined ratio for the first nine months was just over 87% compared to 80.5% for the same period in 2024 [12][13] Business Line Data and Key Metrics Changes - Gross premiums written in Q3 were just over $131 million, a decrease of about 5%, while for the first nine months, gross premiums were up marginally to just over $525 million [10][11] - The short-tail segment saw gross premiums up 2% in Q3 but down 2.7% for the first nine months, with net premiums earned down about 10.4% and 8.1% for Q3 and the first nine months, respectively [17] - The reinsurance segment generated gross premiums of just under $98 million for the first nine months, reflecting almost 25% growth compared to the same period in 2024, with underwriting income up 35% for Q3 [19][20] Market Data and Key Metrics Changes - The company noted increasing competitive pressures across the market, particularly in the long-tail segment, which has seen declining rates and margins [20][32] - The U.S. market remains a significant focus, with opportunities for new business in specialty treaty and short-tail portfolios despite competitive pressures [33][34] - The company is optimistic about the potential for improvement in the long-tail segment by 2026 and 2027, although current conditions remain challenging [32][34] Company Strategy and Development Direction - The company emphasizes disciplined underwriting and capital management to generate high-quality returns, focusing on areas with the best risk-adjusted returns [5][25] - A new $5 million common share repurchase authorization was approved, indicating a commitment to returning value to shareholders [9][23] - The company is expanding its presence in specialty treaty business and enhancing distribution capabilities to drive additional margin [30][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the elevated level of competitive pressure but characterized it as orderly and disciplined, with confidence in finding growth opportunities [25][27] - The recent S&P upgrade to an A rating is expected to open new business opportunities and enhance the company's market position [9][27] - Management remains focused on intelligent risk selection and will not sacrifice profitability for top-line growth, emphasizing the importance of cycle management [34][35] Other Important Information - The company returned a total of about $98 million to shareholders in share repurchases and dividends in the first nine months of 2025 [24] - Total assets increased by just over 4% to $2.12 billion, with total investments and cash at $1.32 billion [22] Q&A Session Summary Question: Comments on market conditions and long-tail business - Management indicated that while competitive pressures are increasing, they are not currently considering walking away from other accounts outside of the specific non-renewed account mentioned [38][39] Question: Outlook for the reinsurance segment - Management noted that while Q1 has historically been strong, they anticipate more pressure on the top line for the reinsurance book as the market generates excess capital [40][41] Question: Perspectives on large account property in the U.S. - Management does not believe that large account property has bottomed out and expects continued pressure in that area [44]

Company Overview - IGI's total assets reached approximately $700 million as of full year 2024[4] - IGI's gross written premium was approximately $21 billion as of September 30, 2025[4] - IGI has an average 10-Year Core ROE of 140% and an average combined ratio of 870% from 2015-2024[4] - The Jabsheh family holds 358% ownership in IGI as of September 30, 2025[9] Financial Performance (Q3/9M 2025) - Net income for Q3 2025 was $335 million, a decrease of 29% compared to Q3 2024[20] - Net income for 9M 2025 was $949 million, a decrease of 97% compared to 9M 2024, primarily due to lower underwriting income[20] - The combined ratio for Q3 2025 was 765%, benefiting from a positive foreign currency revaluation of 46 points[20] - The combined ratio for 9M 2025 was 871%, negatively impacted by a foreign currency revaluation of 75 points[20] - Underwriting income for Q3 2025 was $514 million, a 242% increase compared to Q3 2024, influenced by lower losses and positive foreign currency revaluation of $50 million[20] - Underwriting income for 9M 2025 was $1143 million, a 176% decrease compared to 9M 2024, impacted by higher losses, reinstatement premiums, and negative foreign currency revaluation of $236 million[20] - Book value per share was $1623, a 57% increase from June 30, 2025, and a 93% increase from December 31, 2024[20] - Capital returned to shareholders in Q3 2025 amounted to $209 million through dividends and share repurchases (790k shares)[20] - Capital returned to shareholders in 9M 2025 totaled $979 million, including a $085 extraordinary dividend in Q1 and share repurchases (23m shares)[20] Investment Portfolio - The total investment portfolio was $1316 billion as of September 30, 2025[28] - The average credit quality of the investment portfolio is A, with a duration of 37 years[28] - The bond portfolio is geographically diversified, with 41% in North America, 11% in the UK, 18% in Europe, 15% in Australasia, and 14% in the Middle East[28]

International General Insurance Holdings Ltd. (IGIC) came out with quarterly earnings of $0.87 per share, missing the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.40%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.51, delivering a surprise of -7.27%.Over the la ...

Core Insights - International General Insurance Holdings Ltd. (IGI) has appointed Malcolm Barnes as Head of Specialty Treaty, enhancing its reinsurance capabilities [1] Company Developments - Malcolm Barnes will be based in IGI's London office at 20 Fenchurch and is tasked with building and managing the specialty treaty reinsurance business [1] - The addition of Barnes is expected to provide further depth and breadth to IGI's reinsurance team, indicating a strategic focus on expanding its presence in the London market [1]

Group 1 - The individual investor has over 10 years of trading experience and has developed as a stock analyst for the last five years, focusing on value companies linked to commodity production [1] - The investor emphasizes the importance of sustained free cash flows, low leverage, and sustainable debt in identifying companies with high recovery potential [1] - There is a preference for analyzing underappreciated sectors such as oil & gas, metals, and mining, particularly in emerging markets, to uncover investment opportunities [1] Group 2 - The investor is interested in companies with a strong pro-shareholder attitude, including solid buyback programs and consistent dividend distributions [1] - The educational background includes a financial master's degree specializing in company valuation and an economic degree [1] - The motivation is to share valuable information with the Seeking Alpha community to aid individual investment decisions [1]

Interim Condensed Consolidated Financial Statements June 30, 2025 (Unaudited) International General Insurance Holdings Ltd. | INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | | | | | | --- | --- | --- | --- | --- | | | | June 30, | | December 31, | | (Expressed in thousands of U.S. Dollars, except share and per share information) | | 2025 | | 2024 | | ASSETS | | | | | | Investments | | | | | | Fixed maturity securities available-for-sale, at fair value (amortized cost: $1,010,543 – | | | | | | Ju ...

Financial Data and Key Metrics Changes - The company reported net income of $34.1 million for Q2 2025 and $61.4 million for the first half of the year, resulting in an annualized return on average equity of 20.8% for Q2 and 18.6% for the first half [6][31] - Book value per share increased by 3.4% to $15.36 in the first half of the year, with a total of $77 million returned to shareholders through dividends and share repurchases [7][31] - Gross premiums for Q2 2025 were just under $190 million, reflecting a decrease of 8.7%, while for the first six months, gross premiums were up almost 2% to around $395 million [15][16] Business Line Data and Key Metrics Changes - In the short tail segment, gross premiums decreased by 8.5% for Q2 and 4.2% for the first half, with underwriting income up almost 21% in Q2 due to lower losses compared to the previous year [21][22] - The reinsurance segment saw flat gross premiums compared to Q2 last year, but a growth of about 33% for the first half, driven by strong renewals and new business [22][23] - The long tail segment faced challenges, with gross premiums down almost 12% in Q2 and 5% in the first half, resulting in an underwriting loss of $3 million for Q2 [26][27] Market Data and Key Metrics Changes - The company noted competitive pressures in various areas of its portfolio, particularly in the long tail segment, which is most affected by foreign currency movements [10][11] - The underwriting portfolio is diversified geographically, with about half transacted in non-U.S. Dollar currencies, impacting the revaluation of loss reserves [12][14] - The overall market conditions remain generally healthy, but certain areas are experiencing increased competition, particularly in property and energy lines [32][38] Company Strategy and Development Direction - The company focuses on cycle management, moving capital to areas with strong rate momentum and high margins while reducing exposure in less profitable areas [7][10] - There is a commitment to not sacrifice bottom-line profitability for top-line growth, emphasizing sustainable value generation for the long term [36][43] - The company is expanding its capabilities in specific markets while maintaining a cautious approach to underwriting in competitive segments [37][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating headwinds and highlighted the importance of a diversified strategy to manage cyclicality and volatility [42][43] - The outlook for the remainder of 2025 includes continued contraction in certain areas of the portfolio where profitability does not meet targets [32][34] - Management remains optimistic about finding profitable opportunities across various lines despite competitive pressures [32][39] Other Important Information - The company repurchased over 1.34 million shares at an average price of $23.28 during Q2, with approximately 800,000 shares remaining on the repurchase authorization [31] - Total assets increased by over 4% to about $2.1 billion, with total investments and cash at $1.3 billion [30] Q&A Session Summary Question: Net to gross retention on a written premium basis was 64% in the quarter, down from 73% year over year. Can you speak to that? - Management indicated that the decrease was primarily due to opportunistic buying of facultative reinsurance in a softer market, aiming to generate higher fee income [46][47] Question: Regarding the professional indemnity portfolio that will be non-renewed, what was the session level a couple of years ago versus now? - Management noted that the quota share has hovered between 60% to 85% over the years, with the intent of non-renewal aimed at improving overall profitability [48][49]

Financial Highlights - IGI's total assets reached approximately $700 million as of full year 2024[4] - The company's gross written premium was $2.1 billion as of June 30, 2025[4] - IGI reported a net income of $34.1 million for Q2 2025, a 4% increase over Q2 2024[20] - The company's net income for the first half of 2025 was $61.4 million, a 13.2% decrease compared to the first half of 2024[20] - IGI's book value per share increased by 4.8% from March 31, 2025, to $15.36[20] Underwriting Performance - IGI's combined ratio for Q2 2025 was 90.5%[20] - The combined ratio for the first half of 2025 was 92.4%[20] - Underwriting income for Q2 2025 was $35.0 million[20] - Underwriting income for the first half of 2025 was $63.0 million[20] Capital Management - IGI returned $33.5 million to shareholders in Q2 2025 through dividends and share repurchases[20] - The company returned $77.0 million to shareholders in the first half of 2025, including a $0.85 special dividend and share repurchases[20] - As of June 30, 2025, the Jabsheh family owned 35.8% of the company[9]

Core Viewpoint - International General Insurance Holdings Ltd. (IGIC) reported quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.55 per share, and down from $0.74 per share a year ago, indicating a negative earnings surprise of -7.27% [1] Financial Performance - The company posted revenues of $132.9 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 5.34%, and down from $135.6 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Stock Performance - International General Insurance shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.82 for the coming quarter and $2.67 for the current fiscal year, with revenues expected to be $143.6 million and $560.4 million respectively [7] - The estimate revisions trend for the company was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), suggesting shares are expected to perform in line with the market in the near future [6] Industry Context - The Insurance - Multi line industry, to which International General Insurance belongs, is currently in the top 38% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]