Key Points – War-related losses significantly reduced earnings: IGI recorded nearly $14 million in net war losses in Q2 and roughly $39 million in the first half, contributing to a 95.1% quarterly combined ratio and net income declines to $21 million and $42.5 million,…
spectively. – Underlying underwriting remained resilient amid premium growth: Gross written premiums rose 7.4% year over year in Q2, supported by about $10 million of new business from the company’s India launch, while first-half underwriting income increased 6.7% to more than $67 million. – IGI continued returning capital while pursuing selective growth: The insurer returned approximately $73 million to shareholders in the first half through dividends and repurchases, while reducing war exposure and targeting specialty opportunities despite increasingly competitive pricing in reinsurance, energy and property markets. International General Insurance (NASDAQ:IGIC) reported second-quarter and first-half 2026 results that reflected sizable war-related losses in the Middle East, while management said underwriting profitability, capital returns and new business growth demonstrated the insurer’s resilience amid softening market conditions
Executive Chairman Wasef Jabsheh said the company operated against a backdrop of conflict in the Middle East, broader global uncertainty and declining pricing in many insurance lines. He described the war-related losses recorded during the first half as likely among the largest net loss events in IGI’s history. “Our ability to withstand loss events of this scale and still achieve a very healthy level of profit clearly demonstrates the resilience, strength, and stability we have at IGI today,” Wasef Jabsheh said. War losses weigh on earnings and combined ratio President and CEO Waleed Jabsheh said IGI recorded nearly $14 million of net war losses in the second quarter and roughly $39 million in the first half.
The losses included direct and indirect claims,…