IGI share repurchase progresses

Bermuda’s International General Insurance Holdings has repurchased over two million shares. The privately-negotiated transaction – for 2,271,775 common shares at $8.60 per share – cost $19.5 million.

It leaves approximately 2.4 million common shares remaining under its current common share repurchase authorization of up to 5 million shares, approved by the board of directors last May.

As of 30 September 2022, IGI had 49,158,000 common shares issued and outstanding.

Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction & engineering, ports & terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general third-party liability (casualty), legal expenses, professional indemnity, D&O, marine liability and reinsurance treaty business.

Registered in Bermuda, it also has operations in London, Malta, Dubai, Amman, Kuala Lumpur and Casablanca.