IGI: Q1 2021 results

IGIInternational General Insurance Holdings (IGI) recorded a 1.4% turnover increase during the first quarter of 2021. The gross written premiums went from 99.2 million USD in Q1 2020 to 100.6 million USD by late March 2021.

As of 31 March 2021, the Emirati insurer achieved a net profit of 14.5 million USD against a net loss of 900 000 USD during the same period in 2020.

This performance is partly due to the growth of the technical result (+4.4 million USD over one year) and the investment income (+3 million USD over one year). The combined ratio stands at 84.6% against 81.3% in 2020.

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