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IGI posts $42.5 million H1 profit, combined ratio holds at 92.2%
International General Insurance Holdings said catastrophe losses accounted for 19 percentage points of its H1 loss ratio, while it returned $72.9 million to shareholders.
International General Insurance Holdings (IGI) reported net income of $42.5 million for the first six months of 2026, saying it absorbed what it called one of the largest single-event losses in its nearly 25-year history linked to the war in the Middle East, according to Insurance Business.
The Bermuda-based specialty insurer and reinsurer posted gross written premiums of $398.9 million in H1 2026, up from $394.3 million in H1 2025, and net premiums earned rose to $236.2 million from $227.8 million. IGI reported a combined ratio of 92.2% for the half, essentially flat versus 92.4% a year earlier, with catastrophe losses accounting for 19 percentage points of the loss ratio.
For Q2 2026 alone, IGI’s combined ratio rose to 95.1% from 90.5% a year earlier, with catastrophe losses representing 18.8 percentage points, up from 9 percentage points in Q2 2025. Net income fell to $20.9 million from $34.1 million, driven by elevated Middle East catastrophe losses and a large non-catastrophe energy loss recognized in the first quarter, the outlet reported.
Insurance Business also said IGI’s underwriting income increased for the first half to $67.2 million from $63.0 million, with all three segments generating underwriting profit despite the elevated loss environment. The company’s CEO Waleed Jabsheh said the results showed resilience in a significant loss period and that it returned $72.9 million to shareholders, the outlet added.