International General Insurance (IGI): 2024 quarterly results

International General Insurance (IGI)International General Insurance (IGI) has recorded a 4.4% increase in turnover to 181.6 million USD as at 31 March 2024, against 173.9 million USD in the first quarter of 2023.

The net profit progressed by 11.8% to 37.9 million USD compared with 33.9 million USD a year earlier.

The improvement in net results was mainly attributable to a 30.6% growth in underwriting results and a 24.2% increase in investment income, which stood at 52 million USD and 15.4 million USD respectively at the end of March 2024.

The combined ratio improved by 4.3 points to 74.1%, compared with 78.4% for the same period in 2023.

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