International General Insurance price target raised to $19 from $17 at RBC Capital

RBC Capital raised the firm’s price target on International General Insurance to $19 from $17 and keeps an Outperform rating on the shares after its Q2 results. The company’s Q2 combined ratio in the low 80s stacked up well vs. its peers, highlighted by larger-than-normal reserve releases in the quarter despite elevated cat losses, while its core underwriting margins were also solid, the analyst tells investors in a research note.