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International General Insurance Holdings (IGIC)
NASDAQ:IGIC
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.65Last Year’s EPS
$0.72Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 10.71%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant growth milestones and positive investment income, despite challenges in premium growth and external pressures such as currency movements and natural catastrophes.Company Guidance
During the IGI Q3 2024 earnings call, the executives provided robust guidance, highlighting key metrics that underscore their financial performance and strategic outlook. They reported a combined ratio of 80.5% and net income exceeding $100 million for the first nine months of 2024, along with an annualized return on average shareholders' equity of 23.5%. Over the past five years, IGI has demonstrated consistent value creation, with a compounded annual growth in book value per share plus dividends of 12.3% since 2020. Gross premiums showed a marginal increase over the nine-month period despite an 8% decline in Q3, attributed to timing issues and market dynamics. The company emphasized its commitment to profitability, maintaining a focus on risk-adjusted returns and cycle management, while highlighting the resilience of its diversified portfolio amidst higher catastrophe losses. The guidance also noted a 4.3% annualized investment yield and a significant increase in total assets and equity, with aspirations for continued growth, especially in the U.S. market.Strong Financial Performance
Achieved a combined ratio of 80.5%, net income of over $100 million, and an annualized return on average shareholders' equity of 23.5% for the first 9 months of 2024.
Significant Growth Milestones
Market cap surpassed $1 billion, doubled gross premiums and asset base to over $2 billion since becoming publicly traded.
Positive Investment Income
Investment income improved with an annualized investment yield of 4.3% for the first 9 months of 2024.
Expansion and Growth Initiatives
Opened new offices in Malta, Bermuda, and Oslo; expanded presence in the U.S., Europe, and Asia with significant growth in engineering and construction lines.
Book Value Growth
Book value per share grew by 10.5% in Q3 and 19% for the first 9 months, reaching $14.71 per share.
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International General Insurance Holdings (IGIC) Earnings, Revenues Date & History
IGIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IGIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $21.58 | $22.72 | +5.28% |
| Aug 06, 2024 | $15.98 | $15.65 | -2.07% |
| May 07, 2024 | $13.56 | $14.10 | +3.98% |
| Mar 12, 2024 | $12.10 | $12.49 | +3.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does International General Insurance Holdings (IGIC) report earnings?
International General Insurance Holdings (IGIC) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is International General Insurance Holdings (IGIC) earnings time?
International General Insurance Holdings (IGIC) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IGIC EPS forecast?
IGIC EPS forecast for the fiscal quarter 2024 (Q4) is $0.65.
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