IGIC

Quarterly and Special Dividends Announced: International General Insurance Holdings (IGIC) has declared a quarterly dividend of $0.025 per share and a special dividend of $0.85, both payable on April 22 to shareholders of record as of April 4.

Dividend Yield Information: The forward yield for the quarterly dividend is 0.39%, with additional resources available for IGIC's dividend scorecard and growth metrics.

Extraordinary Dividend Announcement: International General Insurance Holdings Ltd. has declared an extraordinary cash dividend of $0.85 per common share for the period from October 1, 2024, to December 31, 2024, in addition to its regular quarterly dividend of $0.025 per share, totaling $0.875, payable on April 22, 2025.

Company Overview: IGI is a global specialty risks insurer and reinsurer with a diverse portfolio, established in 2001, and operates in multiple countries, rated "A" (Excellent) by AM Best and "A-" (Strong) by S&P Global Ratings.

Financial Performance Overview: International General Insurance Holdings Ltd. reported significant growth in key financial metrics for 2024, including a rise in gross written premiums to $700.1 million and net income increasing by 14.4% to $135.2 million, despite challenges in the Long-tail Segment.

Operational Highlights: The company emphasized improved underwriting performance with a combined ratio of 79.9%, alongside a commitment to shareholder returns, having repurchased shares and paid dividends totaling nearly $50 million in 2024.

Earnings Performance: EverQuote (EVER) reported quarterly earnings of $0.33 per share, significantly exceeding the Zacks Consensus Estimate of $0.18 and showing a turnaround from a loss of $0.19 per share a year ago. The company also surpassed revenue expectations with $147.46 million for the quarter.

Future Outlook: The stock currently holds a Zacks Rank #1 (Strong Buy), indicating positive earnings estimate revisions and expected outperformance in the market. However, the overall industry ranking is in the bottom 48%, which could impact future performance.

Analyst Ratings Updates: Several Wall Street analysts have initiated coverage on various companies, including GE Vernova with an Overweight rating and a price target of $385, International General Insurance with an Outperform rating at $30, and Merus N.V. with a Buy rating at $73.

Stock Performance Insights: The current stock prices for these companies are below the analysts' targets, with GE Vernova at $342.77, International General Insurance at $24.54, Mativ Holdings at $12.52, Merus N.V. at $42.93, and The Ensign Group at $144.66 against a target of $175.

Oppenheimer's Rating on IGIC: Oppenheimer has initiated coverage of International General Insurance Holdings (IGIC) with an Outperform rating, citing the stock's deep discount to fair value and the company's strong management and capabilities.

Growth Outlook and Valuation: Analyst Michael Phillips expects slower growth but believes that strong return on equity (ROE) will help narrow the valuation gap with peers, predicting multiple expansion as the company focuses on underwriting profitability amidst significant industry risks.

IGI Presentation Announcement: International General Insurance Holdings Ltd. (IGI) will have its President & CEO Waleed Jabsheh present at the Southwest IDEAS Investor Conference on November 20, 2024, in Dallas, Texas, with a webcast available for viewing.

Company Overview and Risks: IGI is an international insurer and reinsurer with a diverse portfolio established in 2001, rated "A" by AM Best and "A-" by S&P Global Ratings; the company cautions that forward-looking statements may differ from actual results due to various risks and uncertainties.

Dividend Announcement: International General Insurance Holdings Ltd. has declared a common share dividend of $0.025 per share for the period July 1, 2024 – September 30, 2024, payable on December 18, 2024, to shareholders of record by December 3, 2024.

Company Overview: IGI is a global specialty insurer and reinsurer with a diverse portfolio and operations in multiple countries, rated "A" (Excellent) by AM Best and "A-" (Strong) by S&P Global Ratings.

Validea's Growth Investor Model: The model, based on Martin Zweig's strategy, has upgraded International General Insurance Holdings Ltd (IGIC) from a 54% to an 85% rating due to strong fundamentals and valuation metrics, indicating significant interest in the stock.

About Martin Zweig and Validea: Martin Zweig's investment strategies have historically achieved high returns, and Validea provides analysis based on various legendary investors' methodologies, aiming to identify stocks with growth potential.

Financial Performance Overview: International General Insurance Holdings Ltd. reported significant growth in net income, reaching $34.5 million in Q3 2024 compared to $10.9 million in Q3 2023, and a total of $105.1 million for the first nine months of 2024, up from $85.2 million in 2023, despite some declines in underwriting income and increases in loss ratios.

Key Metrics and Ratios: The company experienced a decrease in gross written premiums to $138.3 million in Q3 2024 from $150.3 million in Q3 2023, while net premiums earned rose to $126.1 million. The combined ratio increased to 86.0% for Q3 2024, reflecting higher loss ratios and expenses, alongside improved investment income and shareholder equity.

Office Relocation Announcement: International General Insurance Holdings Ltd. (IGI) will move its London operations to the 15th floor of the Walkie-Talkie Building on October 28, 2024, reflecting the company's growth and commitment to the London market.

Team Expansion and Services Offered: The new office will accommodate over 130 staff members, including 60 underwriters across various specialty lines such as Energy, Property, and Marine Cargo, enhancing collaboration and client engagement.

Credit Ratings Affirmed: AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of "a" (Excellent) for International General Insurance Co. Ltd. and its subsidiaries, with a stable outlook reflecting their strong balance sheet and operating performance.

Strong Performance Metrics: IGI has demonstrated robust financial health with a five-year average return-on-equity ratio of 16% and a combined ratio below 85%, supported by effective underwriting and a diversified portfolio, indicating expected continued growth and profitability.

Interest Rate Cut Impact: Wall Street observed a significant increase in small-cap stocks following the Federal Reserve's decision to cut interest rates by 50 basis points.

Russell 2000 Performance: The Russell 2000 index rose by 2.4%, reaching 2,259.70 in response to the interest rate reduction.

Dividend Announcement: International General Insurance Holdings Ltd. has declared a common share dividend of $0.025 per share for the period from April 1, 2024, to June 30, 2024, payable on September 18, 2024, to shareholders of record by September 2, 2024.

Company Overview: IGI is an international specialty risks insurer and reinsurer with a diverse portfolio and operations in multiple countries, rated "A" (Excellent) by AM Best and "A-" (Strong) by S&P Global Ratings.

Dividend Announcement: International General Insurance Holdings Ltd. has declared a common share dividend of $0.025 per share for the period April 1, 2024 – June 30, 2024, payable on September 18, 2024, to shareholders of record by September 2, 2024.

Company Overview: IGI is an international specialty risks insurer and reinsurer with a diverse portfolio, established in 2001, operating globally across various sectors, and rated "A" (Excellent) by AM Best and "A-" (Strong) by S&P Global Ratings.

Validea's Growth/Value Investor Model: Today's upgrades for Validea's model, based on James P. O'Shaughnessy's strategy, highlight INTERNET INITIATIVE JAPAN INC. and INTERNATIONAL GENERAL INSURANCE HOLDINGS LTD, both achieving a rating increase from 50% to 100% due to strong fundamentals and valuation metrics.

Company Profiles: Internet Initiative Japan Inc. focuses on internet business services including network and ATM operations, while International General Insurance Holdings Ltd operates in commercial insurance and reinsurance across various sectors globally.

• Analyst Scott Heleniak maintained a Buy rating on International General Insurance Holdings (IGIC) with a price target of $17.00.
• The company's shares closed at $14.42.
• Heleniak focuses on the Financial sector and has a successful track record with an average return of 17.4%.

• The general analyst consensus for IGIC is a Moderate Buy with an average price target of $17.00.
• IGIC has a one-year high of $14.60 and a low of $7.73, with an average volume of 73.41K.

• TipRanks tracked 36,000 company insiders and identified stocks likely to move based on insider activities.

• International General Insurance Holdings (IGIC) operates as a blank check company involved in mergers, acquisitions, and reorganizations.
• Founded in 2015, the company is headquartered in Metairie, LA.

• IGI, a subsidiary of IGIC, reported strong performance and growth outlook.
• IGIC declared an extraordinary dividend of 50 cents per share.