IGI: 2020 first quarter results

Despite a difficult economic situation, significantly impacted by the COVID-19 health crisis, International General Insurance (IGI) is showing an improvement in its performance indicators in the first quarter of 2020.

The gross written premiums increase by 24% amounting to 99.2 million USD in the 1Q 2020 against 80 million USD a year earlier. The combined ratio stood at 81.3%, an increase by 13.8 points over twelve months.

However, investments suffered a 2 million USD decrease due to portfolio adjustments. Ultimately, IGI recorded an after-tax loss of 0.9 million USD, while the net profit was established at 6.5 million USD during the same period in 2019.

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