Market News AIOpen the app

International General Insurance Holdings Ltd. made $28.0 million last quarter, down from $33.5 million a year earlier.

ResultsRead the original at insurancenewsnet.com
Neutral

IGIC's third-quarter profit fell to $28.0 million from $33.5 million. Its $70.5 million in nine-month profit, 85.7% combined ratio, and nearly $80 million returned to owners counter the decline, leaving IGIC's outlook unchanged.

IGIC · International General Insurance Holdings Ltd.

AI read · Neutral

The AI's read

IGIC remained profitable despite its largest loss event in 25 years, and its reported combined ratio supports its claim of disciplined underwriting. It also returned nearly $80 million to shareholders. Third-quarter profit fell from a year earlier, and the report gives no earlier nine-month figure for comparison. Taken together, these facts leave IGIC's outlook unchanged.

Get alerts for IGIC

Follow International General Insurance Holdings Ltd. (IGIC) free. When we publish a story about it, you get the plain-English explanation as an alert.

Get alerts for IGIC
Free on the App Store and Google Play, or on the web.