IGI reports net income of $105.1 million
International General Insurance Holdings has reported net income of $105.1 million for the first nine months of the year, a dip of $10.2 million compared with the same period last year.
Net premiums were $342.5 million, a drop of $20 million, underwriting income was $114.3 million, down $24.4 million, while net investment income was $45.8 million, up by $5 million.
For its third quarter results, IGI's underwriting income jumped from $41.4 million to $51.4 million, while its net investment income increased from $11.5 million to $13.1 million.
IGI Group president and chief executive Waleed Jabsheh said: “The firm had another quarter of strong profitability with solid underwriting results and investment income.”
For Q3 2025 IGI also delivered a combined ratio of 76.5 per cent and net income of $33.5 million, up $1 million.
“This resulted in an annualised return on average equity of 19.9 per cent and an annualised core operating return on average equity of 22.9 per cent,” Mr Jabsheh said. “These results illustrate the strong cycle management culture at IGI.”
He said conditions remained generally favourable across their markets but were showing significant variation by line of business and geographical territory.
“Our strategy, technical expertise and disciplined execution are specifically aimed at managing the inherent cyclicality and volatility of our business,” he added.
For the first nine months of 2025, IGI grew its book value per share by 9.3 per cent and in total during this period, returned $98 million to shareholders in the form of dividends and share repurchases.
Mr Jabsheh said IGI had consistently demonstrated its ability to perform at a high level and generate long-term value for their shareholders.
“This is reflected in our recent financial strength ratings upgrade to A with a stable outlook by S&P Global Ratings,” he said.
“We have built a strong foundation and a level of resilience in our business that we believe will continue to drive value through all stages of the cycle.”
Their speciality short-tail segment, which represented 57 per cent of the company’s gross written premiums for the nine months ended September 30, 2025, generated gross written premiums of $76.2 million for the third quarter of 2025, compared with $74.7 million for the third quarter of 2024.
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