Page 1

IGI Reports Second Quarter and Half - Year 2021 Financial Results HAMILTON , Bermuda , August 12 , 2021 - International General Insurance Holdings Ltd. ( “ IGI ” or the " Company " ) ( NASDAQ : IGIC ) today reported financial results for the second quarter and first six months of 2021 . Highlights for the second quarter and first six months of 2021 include : ( in millions of U.S. Dollars , except percentages and per share information ) 2021 Quarter Ended June 30 , 2020 Six Months Ended June 30 , 2021 2020 Gross written premiums Net premiums earned Net underwriting results $ 166.1 $ 137.3 $ 266.8 $ 236.5 $ 85.5 $ 67.7 $ 167.8 $ 136.2 $ 20.9 $ 22.9 $ 48.6 $ 46.1 Total investment income , net ( 1 ) $ 3.9 $ 2.6 $ 7.9 $ 5.2 Profit for the period $ 5.6 $ 12.0 $ 20.1 $ 11.2 Combined ratio ( 2 ) Earnings per share ( Basic and Diluted ) ( 3 ) Core operating income ( 4 ) 92.3 % 84.0 % 88.5 % 82.6 % $ 0.11 $ 0.25 $ 0.41 $ 0.26 5.6 % 13.5 % 10.1 % 6.6 % $ 9.0 $ 10.3 $ 23.8 $ 23.7 $ 0.18 $ 0.21 $ 0.49 $ 0.55 9.0 % 11.6 % 11.9 % 14.0 % Return on average equity ( annualized ) ( 4 ) Core operating earnings per share ( 4 ) ( Basic and Diluted ) Core operating return on average equity ( annualized ) ( 4 ) ( 1 ) See Note ( 1 ) in the " Notes to the Condensed Consolidated Financial Statements ( Unaudited ) " below . ( 2 ) See " Supplementary Financial Information " below . ( 3 ) See Note ( 3 ) in the " Notes to the Condensed Consolidated Financial Statements ( Unaudited ) " below . ( 4 ) See the section titled " Non - IFRS Financial Measures " below . IGI Chairman and CEO Mr. Wasef Jabsheh said , " Our results for the second quarter and first half of 2021 provide further confirmation of the successful track record IGI has built over the past 20 years . Premium growth in the second quarter was strong at 21 % , after more muted production in the first quarter , with strong profitability for the first half of 2021 reflected in our 88.5 % combined ratio . " " With market conditions holding up well and rate increases across our portfolio at close to 13 % , we remain focused on maximizing opportunities . In addition to seeing attractive business in the new contingency line written by our UK subsidiary in London , we recently announced that our subsidiary in Malta has been granted approval by local regulators to begin writing business . Overall , Europe represents a good growth opportunity for IGI and we expect our results in the coming months and years to reflect this . Our Malta subsidiary is already seeing significant interest and activity and we have an experienced team in place to capitalize on opportunities across Europe . " " We have grown our book value per share by 1.9 % for the year to date in 2021 , and 17.0 % since becoming a public company in March 2020. You will have seen the announcement , made separately , that our Board of Directors has declared an ordinary common share dividend of $ 0.16 per share in support of our shareholders . I am very pleased with our progress , particularly in what has been an extraordinary and turbulent time for all of us , and we look forward to continuing our track record of generating value for our shareholders over the long - term . " 1