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IGI Reports Third Quarter and Nine Month 2021 Financial Results HAMILTON , Bermuda , November 11 , 2021 -- International General Insurance Holdings Ltd. ( " IGI " or the " Company " ) ( NASDAQ : IGIC ) today reported financial results for the third quarter and first nine months of 2021 . Highlights for the third quarter and first nine months of 2021 include : ( in millions of U.S. Dollars , except percentages and per share information ) Gross written premiums Net premiums earned Net underwriting results Total investment income , net ( 1 ) Profit for the period Combined ratio ( 2 ) Earnings per share ( Basic and Diluted ) ( 3 ) Return on average equity ( annualized ) ( 4 ) Core operating income ( 4 ) 2021 Quarter Ended September 30 , $ 115.3 $ 91.2 $ 26.7 $ 4.0 2020 $ 101.2 $ 73.3 Nine Months Ended September 30 , 2021 $ 382.1 กก Core operating earnings per share ( 4 ) ( Basic and Diluted ) Core operating return on average equity ( annualized ) ( 4 ) $ 16.1 85.0 % $ 0.31 16.4 % $ 15.4 $ 0.31 15.7 % $ 5.1 2020 $ 337.7 $ 259.0 $ 209.5 $ 16.4 $ 75.2 $ 62.5 $ 3.0 $ 12.0 $ 8.1 $ 34.5 $ 19.6 87.3 % 86.5 % $ 0.10 $ 0.71 $ 0.43 5.6 % 11.8 % 7.7 % $ 6.4 $ 39.1 $ 30.1 $ 0.13 $ 0.80 $ 0.67 6.9 % 13.4 % 11.8 % 93.7 % ( 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 , " This was another strong quarter for IGI and our results for the year - to - date reflect the robust underlying fundamentals of IGI's business . Through the first nine months of 2021 , we have performed well on all key measures , most notably growing our book value per share by 3.6 % . " " Attractive market conditions are holding up with further rate increases across our portfolio in excess of 13 % , though I would note that we are now seeing some easing in upwards rate momentum , and we expect this to continue as we approach the January 2022 renewal period . Having said that , we are seeing attractive opportunities across our markets , particularly in Europe following the launch of our European subsidiary in Malta in July . " " We look forward to continuing the significant progress we have made since becoming a public company in March 2020 , and maintaining our track record of generating long - term value for our shareholders . " 1