International General Insurance Holdings Ltd. (NASDAQ: IGIC)

International General Insurance Holdings Ltd., known as IGIC, is a global company that provides specialty insurance and reinsurance solutions, with operations in over 200 countries and territories. The company was established in 2019 and became a public entity in 2020 after a merger with Tiberius Acquisition Corporation. IGIC is headquartered in Bermuda and has principal executive offices in Jordan, with a presence in various regions including the UK, Europe, the Middle East, Asia, and Latin America.

IGIC's primary business activities revolve around the provision of specialty risks coverage, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, marine, contingency, and treaty reinsurance. The company's revenue generation is derived from its diversified portfolio of specialty risks, with approximately 32.9% coming from the Specialty Long-tail Segment, which includes professional lines, financial institutions, marine liability, and inherent defects insurance. The Specialty Short-tail Segment, which includes energy, property, construction and engineering, political violence, ports and terminals, and general aviation, accounted for approximately 58.2% of IGIC's gross written premiums in 2023. The Reinsurance Segment, which includes inward reinsurance treaty business, accounted for approximately 8.9% of IGIC's gross written premiums in 2023.

IGIC's competitive strengths lie in its market-respected and effective management team, local knowledge and access to attractive geographies, long-standing relationships with key brokers, and disciplined risk selection and management. The company's underwriting approach combines decades of customized underwriting experience with sophisticated modelling tools, utilizing actuarial data across all lines of business. IGIC's analytical pricing framework is embedded in its business and incorporated into its pricing metrics, underwriting, and risk management.

The company's primary products include professional indemnity, directors and officers, legal expenses, and other casualty lines of business, as well as marine liability, inherent defects insurance, and energy insurance. IGIC's clientele includes a diverse range of businesses, from large hotels to industrial manufacturing companies, and operators and companies with proven track records and strong risk management policies worldwide.

The company's claims management department works closely with its underwriting team to achieve a synchronized and efficient process for managing claims. The company's systems allow it to review real-time, detailed information on its current claims activity across its operations. IGIC's investment income represents a component of its earnings, and the company manages most of its investment portfolio in-house.

In terms of regulatory oversight, IGIC is regulated by the Bermuda Monetary Authority (BMA) and is classified as a Class 3B insurer. The company is required to maintain fully paid-up share capital of at least US$120,000 and has appointed Marsh IAS Services (Bermuda) Ltd. as its principal representative. IGIC's principal office is located at Park Place, 1st Floor, 55 Par-la-Ville Road, Hamilton HM11, Bermuda.