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IGI: solid performance in 2020

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Magazine Issue: 
The insurance business in the post-Covid-19 era [3]
Magazine date: 
Mar 2021

IGIIn 2020, International General Insurance (IGI) recorded a 33.8% increase in turnover, which went from 467.3 million USD to 349.2 million USD in 2019.

Such growth is driven by the group's new business as well as improved renewal pricing. The net result also increased by 33.8% from 31.6 million USD as of 31 December 2020 to 23.6 million USD a year earlier.

The underwriting result reached 77.4 million USD, that is an improvement of 48.8% over one year. The combined ratio gained 4.8 points and was set at 89.3%. The return on equity was established at 9% by late 2020.

The company's shareholder’s equity rose from 312.1 million USD in 2019 to 394.6 million USD during the period under review.

Read also | Listed UAE insurers: 2020’s results [4]

Fri, 19/03/2021 - 15:25

Source URL: https://www.atlas-mag.net/en/article/igi-solid-performance-in-2020

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[3] https://www.atlas-mag.net/en/issue/insurance-in-the-aftermath-of-covid-19
[4] https://www.atlas-mag.net/en/article/listed-uae-insurers-2020-s-results