IGI: Q1 2025 results

International General Insurance (IGI) closed the first quarter of 2025 with a turnover of 206.5 million USD, showing a year-on-year increase of 13.7%.

Net profit declined by 28% compared with the same period of 2024, to 27.3 million USD.

Underwriting result amounted to 27.9 million USD against 52 million USD a year earlier, reflecting a 46.3% drop.

The combined ratio deteriorated by 20.3 points to 94.4%, compared with 74.1% at end-March 2024.

The first quarter of the current year was marked by a higher loss experience than in the first three months of 2024. Losses incurred as a result of natural catastrophes totaled 28.5 million USD at the end of March 2025, compared with 10.8 million USD twelve months earlier.