International General Insurance's Q2 net income rises 3.9%

International General Insurance Holdings

05/08/2025 22:30

Overview

IGI Q2 net income rises 3.9% yr/yr to $34.1 mln

Core operating income for Q2 misses analyst expectations, impacted by currency movements

Gross written premiums for Q2 fall 8.6% yr/yr, reflecting competitive market conditions

Outlook

Company notes increasing competition in certain market areas

IGI highlights impact of U.S. Dollar weakening on results

Company emphasizes diversification strategy to manage market cyclicality

Result Drivers

CURRENCY IMPACT - Currency revaluation of non-U.S. Dollar loss reserves negatively impacted underwriting results

COMPETITIVE MARKET - Gross written premiums fell due to increased competition in insurance and reinsurance markets

CAT LOSSES - Catastrophe losses contributed to higher loss ratios, affecting underwriting income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Core Operating EPS
Miss
$0.51
$0.53 (2 Analysts)
Q2 EPS
$0.77
Q2 Net Income
$34.10 mln
Q2 Core Operating Income
Miss
$22.80 mln
$26.30 mln (1 Analyst)
Q2 Combined Ratio
90.5%


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy."

Wall Street's median 12-month price target for International General Insurance Holdings Ltd is $32.00, about 26.7% above its August 4 closing price of $23.47

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nBw334jTja

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)