International General Insurance Holdings saw a higher combined ratio as its gross written premiums remained flat in the first nine months of the year.
A 4 November financial report from the firm showed that its COR at the end of September was 87.1%, higher than the 80.5% recorded last year. However, on a quarter-on-quarter basis, COR improved to 76.5% in Q3 2025 from 86.0% in Q2 2025.
This comes as its gross written premiums came in flat at the end of September, at $525.6m, compared with last year’s $525.5m. Net income also fell to $94.9m in 2025 from $105.1m in 2024.
IGI Group president and CEO Waleed Jabsheh remains bullish, saying: “Current market conditions remain generally favourable across our markets but are showing significant variation by line of business and geographical territory. Our strategy, technical expertise and disciplined execution are specifically aimed at managing the inherent cyclicality and volatility of our business.
“At IGI, we have consistently demonstrated our ability to perform at a high level, generating long-term value for our shareholders, and this is reflected in our recent financial strength ratings upgrade to ‘A’ with a stable outlook by S&P Global Ratings. We have built a strong foundation and a level of resilience in our business that we believe will continue to drive value through all stages of the cycle.”