International General Insurance(US:IGIC)2025-09-03 20:01Financial Performance - Net income for the six months ended June 30, 2025, was $61,446 thousand, a decrease of 13.06% from $70,661 thousand in the prior year[8] - Total comprehensive income increased to $80,830 thousand for the six months ended June 30, 2025, compared to $67,398 thousand in 2024, marking a growth of approximately 19.97%[8] - Basic earnings per share decreased to $1.37 for the six months ended June 30, 2025, down from $1.56 in the same period of 2024[6] - Net income available to common shareholders for the six months ended June 30, 2025, was $60,649,000, down from $69,071,000 in 2024, reflecting a decline of 12.5%[38] - Diluted earnings per share for the six months ended June 30, 2025, was $1.36, down from $1.55 in 2024, representing a decline of 12.3%[38] Assets and Liabilities - Total assets increased to $2,124,090 thousand as of June 30, 2025, compared to $2,037,538 thousand at December 31, 2024, reflecting a growth of approximately 4.26%[4][5] - The total liabilities increased to $1,461,774 thousand as of June 30, 2025, from $1,382,706 thousand at December 31, 2024, indicating a rise of approximately 5.71%[5] - The reserve for unpaid loss and loss adjustment expenses increased to $801,496 thousand as of June 30, 2025, from $794,243 thousand at December 31, 2024[5] - As of June 30, 2025, total cash, cash equivalents, and restricted cash amounted to $180.524 million, an increase from $168.246 million as of December 31, 2024[21] Cash Flow - Net cash provided by operating activities decreased significantly to $27,172 thousand for the six months ended June 30, 2025, compared to $120,732 thousand in the same period of 2024[12] - Cash and cash equivalents at the end of the period were $180,524 thousand, slightly down from $185,607 thousand at the end of June 2024[12] Shareholder Returns - The company paid dividends of $41,891 thousand during the six months ended June 30, 2025, compared to $24,368 thousand in the same period of 2024[12] - The company repurchased 1,502,024 shares during the period, increasing the total treasury shares to 671,709 as of June 30, 2025[33] Fair Value Measurements - The total fair value of assets measured at fair value as of June 30, 2025, was $1.047 billion, with corporate bonds contributing $975.502 million[28] - The change in fair value for equity-method investments measured at fair value increased to $2.125 million as of June 30, 2025[29] - There were no transfers into or out of Level 3 financial assets during the six months ended June 30, 2025[30] Accounting Standards - The company had no new U.S. GAAP accounting standards adopted that would materially impact the financial statements[20] Other Information - There were no material subsequent events between June 30, 2025, and the date of the report that required disclosure[39]