IGI to repurchase up to $5m of its shares

International General Insurance Holdings (IGI) has approved a repurchase authorisation under which it may repurchase its common shares and/or warrants for an aggregate consideration of up to $5 million.

The repurchases are subject to market conditions and other business considerations. They may be made in the open market, in privately negotiated transactions, block trades, or other transactions.

IGI has discretion regarding the timing and volume of its repurchases under this authorisation. It is not obligated to repurchase any minimum number of securities and the repurchases may be modified, suspended, or discontinued at any time.

Wasef Jabsheh, IGI’s chairman and chief executive, purchased an aggregate of 363,278 common IGI shares for approximately $2.4 million in open market transactions during June, August and September of 2020, IGI said.