Financial Performance - Gross written premiums rose to USD 387,197 thousand for the six months ended June 30, 2024, compared to USD 373,534 thousand for the same period in 2023, an increase of 3.5%[3] - Net premiums earned increased to USD 236,389 thousand in June 2024, up from USD 223,427 thousand in June 2023, reflecting a growth of 5.4%[3] - Investment income grew significantly to USD 24,934 thousand in June 2024, compared to USD 18,433 thousand in June 2023, marking an increase of 35.5%[3] - Net income for the six months ended June 30, 2024, was USD 70,661 thousand, a decrease from USD 74,363 thousand in the same period of 2023, representing a decline of 5.7%[4] - Total comprehensive income for the six months ended June 30, 2024, was USD 67,398 thousand, down from USD 79,177 thousand in the same period of 2023, a decrease of 15.0%[4] - The company reported a basic earnings per share of USD 1.56 for the six months ended June 30, 2024, compared to USD 1.60 for the same period in 2023[3] - Net income available to common shareholders for the six months ended June 30, 2024, is USD 69,071 thousand[39] Assets and Liabilities - Total assets increased to USD 1,958,350 thousand as of June 30, 2024, up from USD 1,837,900 thousand at December 31, 2023, representing a growth of 6.6%[2] - Total liabilities increased to USD 1,370,141 thousand as of June 30, 2024, compared to USD 1,297,470 thousand at December 31, 2023, an increase of 5.6%[2] - The company’s total investments reached USD 1,047,237 thousand as of June 30, 2024, compared to USD 955,668 thousand at December 31, 2023, an increase of 9.6%[2] - Retained earnings rose to USD 469,342 thousand as of June 30, 2024, up from USD 423,049 thousand at December 31, 2023, reflecting an increase of 10.9%[2] Cash Flow and Investments - Net cash provided by operating activities increased to USD 120,732,000 for the six months ended June 30, 2024, compared to USD 87,816,000 for the same period in 2023, representing an increase of 37.4%[8] - The net cash used in investing activities was USD 93,177,000 for the six months ended June 30, 2024, compared to USD 15,274,000 for the same period in 2023, indicating a significant increase in investment outflows[8] - Cash, cash equivalents, and restricted cash at the end of the period were USD 185,607,000, a slight decrease from USD 188,393,000 at the end of June 30, 2023[8] Shareholder Returns - Dividends paid increased to USD 24,368,000 in the first half of 2024, compared to USD 864,000 in the same period of 2023, showing a substantial rise in shareholder returns[8] - The company repurchased 927,033 shares at a cost of USD 12,603 thousand during the six months ended June 30, 2024[35] - The balance of treasury shares as of June 30, 2024, is 284,044 shares, valued at USD 3,979 thousand[35] Reserves and Expenses - The reserve for unpaid loss and loss adjustment expenses rose to USD 712,098,000 as of June 30, 2024, up from USD 636,245,000 at the end of 2023, indicating an increase of 11.9%[17] - Total loss and loss adjustment expenses incurred, net of reinsurance, were USD 99,238,000 for the six months ended June 30, 2024, compared to USD 189,087,000 for the same period in 2023, reflecting a decrease of 47.5%[19] - The net reserve for unpaid loss and loss adjustment expenses at the end of the period was USD 541,225,000, an increase from USD 499,849,000 at the beginning of the period[17] Fair Value Measurements - Total fair value of assets measured at fair value as of June 30, 2024, is USD 896,764 thousand, with corporate bonds contributing USD 825,013 thousand[29] - Corporate bonds available-for-sale amounting to USD 165,250 thousand were transferred from level 2 to level 1 as of June 30, 2024[29] - The fair value of Earnout Shares at the end of the period decreased to USD 5,430,000 as of June 30, 2024, down from USD 17,290,000 at the end of 2023, reflecting a decline of 68.6%[26] Other Information - The company experienced a net foreign exchange difference of USD 2,969,000 in cash and cash equivalents at the beginning of the period, which was not present in the current period[8] - The company reported a change in term deposits of USD 26,390,000 for the six months ended June 30, 2024, compared to a decrease of USD 4,554,000 in the same period of 2023[8] - There have been no material events between June 30, 2024, and the date of this report that require disclosure[40]

Financial Data and Key Metrics Changes - The company reported an annualized return on average equity of 22.9% for Q2 and 25.1% for the first half of 2024, with average equity increasing by almost 30% year-over-year [5] - Book value per share grew by 7.3% to $13.31 at the end of June 2024, following a growth of over 36% in 2023 [5][14] - Net income for Q2 was $32.8 million and $70.7 million for the first half, slightly down from the prior year due to increased loss activity [13] - Core operating income increased by 8.6% from the first half of last year, reaching just over $73 million [13] Business Line Data and Key Metrics Changes - Gross written premium growth was 3% in Q2 and 3.7% for the first half, driven by short-tail and reinsurance segments [9] - The reinsurance segment saw gross premiums up 57.7% in Q2 and 28.4% for the first half, with net premiums earned increasing by almost 35% [10] - The long-tail segment experienced contraction in gross premium volume, with rates and conditions leading to a cautious approach in underwriting [10][12] Market Data and Key Metrics Changes - The U.S. market saw gross premiums increase by over 47% in the first half of 2024 compared to the same period last year [23] - In Europe, the company rolled around $17 million in Q2 and just under $40 million in the first six months, with expectations for further growth [24] - The MENA region and Asia continue to present opportunities, with talent being added on the ground across various lines of business [24] Company Strategy and Development Direction - The company focuses on generating consistent and sustainable value through disciplined underwriting and capital allocation [7][19] - There is an emphasis on enhancing distribution capabilities and targeting new business opportunities, particularly in engineering and construction [16][21] - The company maintains a cautious approach to underwriting in the long-tail segment, prioritizing profitability over volume [27][29] Management's Comments on Operating Environment and Future Outlook - Management noted that while market conditions remain generally healthy, competitive pressures are increasing, particularly in domestic markets [15][18] - The company expects mid to possibly high single-digit growth in gross premiums for the year, down from previous expectations of high single-digits to low double-digits [9][28] - Management highlighted the importance of maintaining discipline in underwriting and focusing on profitability, especially in a competitive environment [18][19] Other Important Information - Total assets increased just under 7% to $1.96 billion, and total equity rose just under 9% to $588.2 million at the end of June [14] - The company increased its common share repurchase authorization by 7.5 million shares and repurchased approximately 650,000 shares in Q2 [14] Q&A Session Summary Question: Growth outlook and long-tail challenges - Management indicated that growth is expected primarily from reinsurance and short-tail segments, with long-tail segments facing pressure, particularly in D&O and financial institutions [26][27] Question: U.S. business growth and property market - The company noted that growth in the U.S. is driven by new lines such as engineering and construction, despite competitive pressures in the property market [30][31] Question: Favorable reserve development - Management explained that favorable reserve development is due to a cautious reserving approach, with releases occurring across both short-tail and long-tail segments [33][35] Question: Offshore energy losses - Management clarified that the offshore energy losses were due to increased frequency of losses in that business line, primarily on the offshore construction side [36]

Financial Data and Key Metrics - The company posted a combined ratio in the 70s, with a return on average equity of 27.6% and a core operating return on average equity of 29.2% [11] - Book value per share grew by 1.5% in Q1 2024, following a 26% growth in 2023 [11] - Net income for Q1 2024 was just under $38 million, up from $34 million in Q1 2023, driven by higher underwriting income and a $3 million increase in net investment income [31] - Core operating income increased by more than 35% to $40 million in Q1 2024 compared to $29 million in Q1 2023 [32] - Total assets increased by 2% to $1.88 billion, and total equity grew by 3% to $567 million at the end of Q1 2024 [33] Business Line Performance - Gross written premium growth in Q1 2024 was 4.5%, with significant growth in the reinsurance segment, which grew by 21% compared to Q1 2022 [22] - The short-tail segment saw a 2.8% increase in gross premiums, driven by opportunities in engineering, contingency, property, and marine cargo [23] - The long-tail segment experienced a contraction in gross premiums due to rate and condition challenges, with the company choosing not to renew some business [24] - The treaty reinsurance business saw net price improvements of more than 70% in Q1 2024, following a 25% increase in 2023 [48] Market Performance - The US market remains a key growth area, with rates outpacing other markets in property, energy, and contingency lines [43] - In Europe, the company wrote over $22 million in Q1 2024, up from $19 million in Q1 2023, with growth opportunities in Nordic markets [44] - The company has established a presence at Lloyd's of London, offering lines such as property, energy, contingency, and marine cargo [50] Strategic Direction and Industry Competition - The company is focusing on managing cycles, maintaining underwriting discipline, and shifting capital to areas with strong rate momentum and high margins [13][14] - The company is expanding its geographic footprint, adding talent, and diversifying its reinsurance portfolio [19] - The company is cautious about competition in the short-tail segment, particularly in aviation and upstream energy, while reinsurance remains the most attractive area [58][59] Management Commentary on Market Conditions and Outlook - The company expects growth for 2024 to be in the high single-digits to low double-digits, with opportunities in engineering, property, and marine cargo [27][37] - The company is optimistic about 2024, despite competitive pressures and mixed market conditions [20][37] - The company is focusing on technical underwriting and cycle management to navigate the current market environment [39] Other Important Information - The company has repurchased shares under its existing authorization, with around 1 million shares remaining [34] - A special dividend of $0.50 per share was announced alongside the regular quarterly dividend of $0.01 per share in Q1 2024 [35] - The company has a core operating ROE of just under 30% for Q1 2024, compared to 27.9% in Q1 2023 [36] Q&A Session Summary Question: Reserve Releases in Q1 2024 - The strong reserve release in Q1 2024 reflects the company's cautious approach to reserving and the benign loss environment in 2023 [53] Question: Competitive Landscape in Short-Tail and Reinsurance Segments - The short-tail segment is mixed, with the US being the strongest market, while aviation is under pressure [58] - The reinsurance segment remains the most attractive, with significant growth opportunities, although competition is increasing [59][60] Question: Investment Yield and Cash Deployment - The company deployed cash into fixed income investments, maintaining an average rating of A and an average duration of 3.1 years [64]

Forward Looking Statements | --- | --- | |---------------------------------------------------------------------------------------|---------------------------------------------------------------------------| | | | | IGI is an international specialist technical expertise providing specialty lines | (re)insurance group with deep coverage across a diversified portfolio of | International General Insurance Holdings Ltd. 3 International General Insurance Holdings Ltd. 4 Global Presence, Local Knowledge 6 (1) Repr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Not applicable Bermuda (Translation of Registrant's name into English) (Jurisdiction of incorp ...

Financial Data and Key Metrics Changes - The company reported a record net income of $118.2 million for the full year 2023, up from $89.2 million in 2022, reflecting a significant increase of 32.5% [12] - Core operating return on average equity (ROE) reached 28.1% for the full year, the highest in the company's history [7][14] - Total assets increased by more than 16% to $1.84 billion, while total equity rose by over 31% to $540 million [27] Business Line Data and Key Metrics Changes - Gross written premium (GWP) growth for the full year was just over 18%, with a notable 6.5% growth in the fourth quarter [10] - The short tail segment saw a growth of over 38% in GWP for Q4 and over 26% for the full year compared to 2022 [54] - The reinsurance treaty business recorded cumulative net rate increases exceeding 25% in 2023, with this segment now representing 9% of the overall premium portfolio, nearly double from the previous year [55][19] Market Data and Key Metrics Changes - In the U.S., GWP was just over $94 million in 2023, representing a growth of about 45% compared to 2022, with rate increases of almost 20% in short tail lines [22] - The European market also showed growth, with GWP increasing from about $62 million in 2022 to over $80 million in 2023 [1] - The Middle East market conditions are mixed, with competitive pressures increasing in certain lines, but opportunities remain in engineering and construction across the GCC countries [36] Company Strategy and Development Direction - The company aims to maintain a strong, diversified, and profitable portfolio while managing cyclicality and volatility, focusing on lines and markets with the strongest margins [2] - There is a commitment to return excess capital to shareholders through dividends and share repurchases, reflecting a focus on maximizing shareholder value [27][23] - The company is optimistic about future growth opportunities, particularly in the U.S. and Europe, where the books are relatively young [41] Management's Comments on Operating Environment and Future Outlook - Management noted that while competition is increasing, particularly in the short tail segments, there are still profitable opportunities available [5][15] - The long tail segment is facing challenges with downward trending rates, but overall rates remain adequate across the portfolio [20] - Management expressed confidence in the company's ability to navigate changing market conditions and continue delivering value to shareholders [37] Other Important Information - The company repurchased 3.4 million shares for $31.1 million and declared a special cash dividend of $0.50 per share in addition to a regular quarterly dividend of $0.01 per share [7][13] - The company recorded a core operating income that more than doubled in Q4 and increased by 42.5% for the full year compared to the previous year [12] Q&A Session Summary Question: Growth trends in U.S., ENS, and Europe for short tail - Management indicated that while growth trends are promising, they expect less rate increase in 2024 compared to previous years due to increased competition [5] Question: Accident year loss ratio improvement - Management noted that the improvement was largely due to a benign loss year and a shift in focus towards areas with higher margins, particularly in reinsurance [29] Question: Factors leading to the special dividend - Management explained that the decision for a special dividend was based on exceeding expectations in returns and recognizing shareholder support, while maintaining adequate capital for growth [30][32]

International General Insurance Holdings Ltd. (NASDAQ:IGIC) Q3 2023 Results Conference Call November 15, 2023 9:00 AM ET Robin Sidders - Head of Investor Relations Wasef Jabsheh - Executive Chairman Waleed Jabsheh - Chief Executive Officer Pervez Rizvi - Chief Financial Officer Good day, and welcome to the International General Insurance Holdings Ltd.Â's Third Quarter and First Nine Months of 2023 Financial Results Conference Call. All participants are in a listen-only mode. [Operator Instructions] After to ...

Exhibit 99.1 International General Insurance Holdings Ltd. See accompanying notes to the interim condensed consolidated financial statements Interim Condensed Consolidated Financial Statements - | - June 30, 2023 (Unaudited) Retained earnings International General Insurance Holdings Ltd. INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | | | December | | --- | --- | --- | | | June 30, | 31. | | | 2023 | 2022 | | | USD '000 | USD '000 | | ASSETS | | | | Investments | | | | Fixed maturity securities ...

International General Insurance Holdings Ltd. (NASDAQ:IGIC) Q2 2023 Earnings Conference Call August 16, 2023 9:00 AM ET Company Participants Robin Sidders - Head of Investor Relations Wasef Jabsheh - Executive Chairman Waleed Jabsheh - Chief Executive Officer Conference Call Participants Roland Mayer - RBC Capital Markets Operator Good day, and welcome to the International General Insurance Holdings Ltd.’s Second Quarter and First Half-Year 2023 Financial Results Conference Call. All participants’ are in li ...

Forward Looking Statements International General Insurance Holdings Ltd. 2 | --- | --- | |------------------------------------------|-------------------------------------------------------------------------------------------------------------------------| | | | | IGI is an technical expertise providing | international specialist (re)insurance group with deep coverage across a diversified portfolio of specialty lines | ➢ "Underwriting first" individual risk underwriting strategy focused on profitable growth, ...