International General Insurance Holdings Ltd has announced a 100 per cent increase in its quarterly dividend, raising the payout from $0.025 to $0.05 per ordinary common share.

The company said its board of directors approved the dividend increase this week. The first payment at the new rate will be made on June 18 to shareholders on record as of June 2.

IGI, which is listed on the Nasdaq under the ticker IGIC, is based in Bermuda and operates globally in the speciality insurance and reinsurance space.