International General Insurance reports Q3 core EPS 67c, consensus 56c

Return on average equity was 22.3% for the third quarter of 2024, compared to 9.3% for the third quarter of 2023. Gross written premiums were $138.3Mfor the quarter ended September 30, 2024, compared to $150.3M for the quarter ended September 30, 2023. IGI President & CEO Mr. Waleed Jabsheh said, “We had another quarter of strong performance with solid underwriting margins as well as a more favorable investment environment. While the third quarter was marked by heavier catastrophe losses globally as well as varied underwriting and financial markets, we have remained focused on consistently executing our strategy, at a time when risk selection and discipline are critical. All in for the third quarter, we recorded net income of $34.5M, and a return on average equity of 22.3%.”