IGIH reports net profit of $18.5m for H1
Dubai, August 12, 2014
International General Insurance Holdings (IGIH) has reported earnings of $18.5 million for the first half of this financial year, as compared to $21.32 million for the same period in 2013.
Wasef Jabsheh, vice chairman and chief executive officer of IGIH, said: “Although we were unable to surpass last year’s profits for the first half, our results were in line with our projections given the soft market the industry is facing. Attaining a combined ratio of 87.64 per cent in the current environment continues to prove that IGI remains focused on writing profitable business whilst firmly managing risk and expenses.” – TradeArabia News Service