KEY METRICS First Quarter 2026:
GWP
Q1 2026: $197.2 million – down 4.5% vs Q1 2025 – includes new business offset by the impact of the non-renewal of two sizeable reinsurance programmes (= cycle management)
Underwriting Income
Q1 2026: Up 35.1% to $37.7 million from $27.9 million in Q1 2025 driven by strong underwriting execution (including $32.2 million in favourable reserve development) partially offset by losses primarily related to war in the Middle East as well as one large energy loss in the Persian Gulf
Net Income
Q1 2026: $21.7 million versus $27.3 million in Q1 2025
Core Operating Income
Q1 2026: $24.4 million – up 25.1% from $19.5 million in Q1 2025
Combined Ratio
Q1 2026: 89.1% vs. 94.4% in Q1 2025 (Q1 2026 included 19.2 points of accident year CAT losses (mostly war related) and 29 points of favourable reserve development, while Q1 2025 included 25.0 points of accident year CAT losses and 22.9 points of favourable reserve development
Shareholder Return
Book Value per share $15.60 at March 31,2026, down 7.7% (or $1.31) from Dec 31, 2025, but included total capital return to shareholders of $64.6 million comprised of $51.5 million in common share dividends (including special dividend of $1.15) and $13.1 million in share repurchases
About IGI:
IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction & engineering, ports & terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general third-party liability (casualty), legal expenses, professional indemnity, D&O, marine liability and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Malta, Dubai, Amman, Oslo, Kuala Lumpur and Casablanca, IGI aims to deliver outstanding levels of service to clients and brokers. IGI is rated “A” (Excellent)/Stable by AM Best and “A” (Strong)/Stable by S&P Global Ratings. For more information about IGI, please visit www.iginsure.com.