Business agreement between IGI and Tiberius Acquisition Corp

IGIThe American company Tiberius Acquisition Corp. becomes a shareholder of the Emirati reinsurer International General Insurance (IGI).

Under the terms of the agreement, the two partners will create a new structure called International General Insurance Holdings Limited, domiciled in Bermuda.

The transaction, which will be completed in the first quarter of 2020, will enable the new IGI Holdings to:

  • benefit from an additional shareholder's equity of 120 million USD
  • have a pro forma market capitalization greater than 550 million USD
  • be listed on the Nasdaq of New York, the second largest stock exchange in the world after the New York Stock Exchange (NYSE)
  • develop a diverse portfolio of specialty lines

The positions of IGI's current senior management will remain unchanged. Wasef Jabsheh, CEO and Vice Chairman of the Board of IGI, will own approximately 24% of the company.

Created in 2001, IGI is rated A by AM Best. The company is active in insurance and reinsurance in more than 200 countries. It offers insurance covers for energy, property damage, aviation, marine, construction, engineering, third party liability risks,...

IGI is present in Bermuda, London, Amman (Jordan), Dubai (UAE), Labuan (Malaysia) and Casablanca (Morocco).

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