International General Insurance Holdings (IGI), the specialty insurer and reinsurer, reported third-quarter 2026 net income of $28.0m, against $33.5m a year earlier, Reinsurance News reported on 4 November. Core operating income fell to $28.2m from $38.6m. The combined ratio rose to 85.7% from 76.5%, with catastrophe losses adding 6.9 points and favourable prior-year reserve development taking off 7.1 points.
For the first nine months, net income fell to $70.5m from $94.9m, and the combined ratio rose to 90.1% from 87.1%, with catastrophe losses adding 14.8 points. Group President and CEO Waleed Jabsheh said IGI had absorbed "the single largest loss event" in its 25-year history, which he identified as the Middle East war. The report gave no amount for that loss.
Gross written premiums fell to $119.6m in the quarter from $131.3m. Most of the drop came in the specialty short-tail segment, where lower energy business cut premiums to $63.8m from $76.2m. That segment's nine-month underwriting income fell to $45.5m from $80.2m because of higher net losses from the war. In reinsurance, quarterly underwriting income rose to $12.7m from $10.4m.
Investment income rose 8.4% in the quarter to $14.2m. The annualised core operating return on average equity was 16.9% for the quarter and 13.8% for the nine months. Jabsheh said IGI had returned almost $80m to shareholders through dividends and share buybacks this year.
Read the source
Reinsurance News ↗News publisher · 4 Nov 2026
This is an original brief based on the linked publication. Company statements and forecasts are attributed to their source.
