International General Insurance (IGIC) 2024 Southwest IDEAS Conference summary

Company background and growth

• Founded in 2001 with a $25 million capital base, now at $650 million and over $1 billion market cap.

• Evolved from a handful of business lines to nearly 25, with 460 employees and eight global offices.

• Growth has been primarily organic, with only two capital raises totaling about $110–$120 million.

• Focused on specialty risks, with strong ratings (A by AM Best, A- by S&P).

• Emphasizes value creation and book value growth over top-line expansion.

Key presentations and announcements

• Announced CEO succession: Waleed Jabsheh named CEO, Wasef Jabsheh named Executive Chairman, and celebrated 20 years in business.

• Completed acquisition of Norway MGA Energy Insurance Oslo and expanded product offerings to include long-tail lines.

• Announced a new dividend policy and increased share repurchase authorization, with $25.4 million in dividends paid through September 2024.

• Maintains a strong commitment to ESG, diversity, and community support, with a mature governance structure and ongoing sustainability initiatives.

• Highlighted its purpose of providing peace of mind in times of uncertainty, emphasizing a long track record of supporting people and communities.

Business philosophy and underwriting approach

• Operates as a disciplined, profitability-driven underwriting shop, prioritizing bottom-line results.

• Maintains strict risk tolerances and only enters markets or lines it fully understands.

• 70% of business is facultative (individually underwritten), with the rest delegated to MGAs or in reinsurance.

• Uses a Four Eyes Underwriting Approach, requiring two underwriters to sign off on each account.

• Operates a single hub model with unified P&L and consistent underwriting appetite across all offices.