KEY METRICS Second Quarter and First Half 2026:
INVESTOR WEBCAST: 9 AM Eastern, Wednesday August 5, 2026, accessible via iginsure.com
| GWP | Q2 2026: $201.7 million – up 7.4% vs Q2 2025 – includes new business on India platform of around $10 million
1H 2026: $398.9 million – up 1.2% vs 1H 2025, includes impact of new business (India) offset by the non-renewal of two sizeable reinsurance programmes (= cycle management) |
| Underwriting Income | Q2 2026: $29.5 million down 15.8% vs. Q2 2025 due to losses (around $39 million) primarily related to war in the Middle East
1H 2026: Up 6.7% to $67.2 million, and includes the impact of significant losses primarily related to war in the Middle East as well as one large energy loss in the Persian Gulf as well as favourable reserve development |
| Net Income | Q2 2026: $20.9 million versus $34.1 million in Q2 2025
1H 2026: $42.5 million versus $61.4 million in first half of 2025 Both results include the impact of significant losses, primarily related to Middle East war |
| Core Operating Income | Q2 2026: $18.7 million versus$22.8 million in Q2 2025
1H 2026: $43.1 million versus $42.2 million in first half of 2025 Both results include the impact of significant losses, primarily related to Middle East war |
| Combined Ratio | Q2 2026: 95.1% vs. 90.5% in Q2 2025 (Q2 2026 included 18.8 points of accident year CAT losses (mostly war related); ex-CAT accident year combined ratio was 74.9% in Q2 2026 versus 76.0% in Q2 2025
1H 2026: 92.2% vs 92.4% in 1H 2025, and included 19.0 points of accident year CAT losses (mostly war related) and 13 points of favourable reserve development; ex-CAT accident year combined ratio was 86.2% in 1H 2026 versus 84.1% in Q1 2025 |
| Shareholder Return | Book Value per share $16.04 at June 30, 2026, up 2.8% from March 31, 2026, down 5.1% from Dec 31, 2025; included total capital return to shareholders of $72.9 million comprised of $54.7 million in common share dividends (including special dividend of $1.15) and $18.2 million in share repurchases |
IGI Group President & CEO Waleed Jabsheh said, “We delivered excellent underlying results in both the second quarter and first half of 2026 and continued to generate significant returns for shareholders, highlighted by annualized returns on average equity of 12.6% and 12.3% for the second quarter and first six months 2026, respectively.”
“These results were delivered against a backdrop of significant loss activity, mostly stemming from war in the Middle East, which in aggregate represents one of the largest single event losses in IGI’s almost 25-year history.”
“Our results clearly show the resilience and strength that we have built in IGI. To be able to absorb this level of loss in the first six months of 2026 while posting net income of $42.5 million, a combined ratio of 92.2%, and returning $72.9 million to shareholders, demonstrates that our strategy is not only working very well, but also as it was designed to work.”