International General Insurance reports Q1 core EPS 42c, consensus 47c

Gross written premiums increased by 13.7% to $206.5 million in the quarter ended March 31, 2025, compared to $181.6 million for the comparable period in 2024. The increase was primarily in the Reinsurance Segment. The first quarter of 2025 was impacted by a higher level of loss activity compared to the first quarter of 2024, resulting in underwriting income of $27.9 million for the first quarter of 2025 compared to $52.0 million for the first quarter of 2024. The loss ratio was 55.5% for the quarter ended March 31, 2025, compared to 38.7% for the same period in 2024, largely driven by catastrophe losses of $28.2 million in the first quarter of 2025, compared to $10.8 million in the first quarter of 2024.