Quarterly ResultMay 5, 2026, 04:40 PM
IGI Q1 Underwriting Income +35% to $37.7M; Combined Ratio 89.1%
AI Summary
International General Insurance Holdings Ltd. reported a strong operational start to 2026, with underwriting income increasing 35.1% to $37.7 million and the combined ratio improving to 89.1%. Core operating income also saw a significant rise to $24.4 million. However, gross written premiums declined to $197.2 million due to non-renewals, and net income decreased to $21.7 million. The company actively managed capital, returning nearly $65 million to shareholders through repurchases and dividends, including an extraordinary dividend.
Key Highlights
- Underwriting income increased by 35.1% to $37.7 million in Q1 2026 from $27.9 million in Q1 2025.
- Combined ratio improved to 89.1% in Q1 2026 from 94.4% in Q1 2025.
- Core operating income rose 25.1% to $24.4 million in Q1 2026 from $19.5 million in Q1 2025.
- Returned almost $65 million to shareholders through share repurchases and dividends, including an extraordinary dividend of $1.15 per share.
- Gross written premiums decreased to $197.2 million in Q1 2026 from $206.5 million in Q1 2025, mainly due to non-renewals.
- Net income for Q1 2026 was $21.7 million, down from $27.3 million in Q1 2025.
- Specialty Long-tail Segment underwriting income improved to $17.5 million in Q1 2026 from a $7.5 million loss in Q1 2025.
- Book value per share decreased to $15.60 at March 31, 2026, from $16.91 at December 31, 2025.