IGI Reports Mixed Q1 2025 Financial Results

International General Insurance Holdings Ltd. ( (IGIC) ) has released its Q1 earnings. Here is a breakdown of the information International General Insurance Holdings Ltd. presented to its investors.

International General Insurance Holdings Ltd. (IGI) is a specialty risks commercial insurer and reinsurer, operating globally with a diverse portfolio that includes energy, property, and marine insurance, among others. The company is headquartered in Bermuda and has a presence in several international markets.

In its first quarter of 2025 financial results, IGI reported a mixed performance with an increase in gross written premiums but a decline in net income compared to the same period in 2024. The company faced challenges due to elevated natural catastrophe losses and macroeconomic uncertainties.

Key financial metrics for the quarter included a 13.7% increase in gross written premiums to $206.5 million, while net income decreased to $27.3 million from $37.9 million in the previous year. The combined ratio rose to 94.4% from 74.1%, reflecting higher loss activity and increased policy acquisition expenses. Despite these challenges, the Reinsurance Segment showed significant growth, with a 43.7% increase in gross written premiums.

Investment income remained stable, with a slight increase to $15.5 million, supported by higher yields on a larger fixed income portfolio. The company also benefited from favorable currency movements, resulting in a net foreign exchange gain of $7.2 million.

Looking ahead, IGI remains optimistic about navigating the challenging market conditions, emphasizing its strategy of disciplined risk selection and capital management to create shareholder value. The company continues to focus on adjusting its portfolio to optimize risk-adjusted returns and has returned $43.5 million to shareholders through dividends and share repurchases in the first quarter of 2025.