3 weeks ago
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MarketBeat
Wed, August 5, 2026 astatine 11:04 AM CDT 7 min read
Key Points
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War-related losses importantly reduced earnings: IGI recorded astir $14 cardinal successful nett warfare losses successful Q2 and astir $39 cardinal successful the archetypal half, contributing to a 95.1% quarterly combined ratio and nett income declines to $21 cardinal and $42.5 million, respectively.
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Underlying underwriting remained resilient amid premium growth: Gross written premiums roseate 7.4% twelvemonth implicit twelvemonth successful Q2, supported by astir $10 cardinal of caller concern from the company's India launch, portion first-half underwriting income accrued 6.7% to much than $67 million.
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IGI continued returning superior portion pursuing selective growth: The insurer returned astir $73 cardinal to shareholders successful the archetypal fractional done dividends and repurchases, portion reducing warfare vulnerability and targeting specialty opportunities contempt progressively competitory pricing successful reinsurance, vigor and spot markets.
International General Insurance (NASDAQ:IGIC) reported second-quarter and first-half 2026 results that reflected sizable war-related losses successful the Middle East, portion absorption said underwriting profitability, superior returns and caller concern maturation demonstrated the insurer's resilience amid softening marketplace conditions.
Executive Chairman Wasef Jabsheh said the institution operated against a backdrop of struggle successful the Middle East, broader planetary uncertainty and declining pricing successful galore security lines. He described the war-related losses recorded during the archetypal fractional arsenic apt among the largest nett nonaccomplishment events successful IGI's history.
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"Our quality to withstand nonaccomplishment events of this standard and inactive execute a precise steadfast level of nett intelligibly demonstrates the resilience, strength, and stableness we person astatine IGI today," Wasef Jabsheh said.
War losses measurement connected net and combined ratio
President and CEO Waleed Jabsheh said IGI recorded astir $14 cardinal of nett warfare losses successful the 2nd 4th and astir $39 cardinal successful the archetypal half. The losses included nonstop and indirect claims, predominantly successful the company's governmental violence, oregon PV, portfolio, on with an indirect nonaccomplishment successful its vigor portfolio antecedently disclosed successful the archetypal quarter.
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The physical-damage and business-interruption losses chiefly stemmed from exposures successful the United Arab Emirates, Saudi Arabia, Bahrain and, to a lesser extent, Oman, helium said. IGI does not person exposures successful sanctioned countries, according to management.
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