IGI Announces Repurchase Authorization for Common Shares and Warrants

About this update from International General Insurance Holdings Ltd.

[{"type":"text","content":" HAMILTON, Bermuda--(BUSINESS WIRE)--\nInternational General Insurance Holdings Ltd. (“IGI” or the “Company”) (NASDAQ: IGIC) today announced that its Board of Directors has approved a repurchase authorization, under which the Company may repurchase its common shares and/or warrants for an aggregate consideration of up to $5 million.\n\nThe timing and volume of any repurchases under this authorization will be determined by IGI at its discretion and pursuant to the Company's capital management strategy. The repurchase authorization does not obligate the Company to repurchase any minimum number of securities and may be modified, suspended, or discontinued at any time.\n\nRepurchases, which are subject to market conditions, other business considerations and applicable legal requirements, may be made in the open market, in privately negotiated transactions, block trades, or other transactions.\n\nSeparately, the Company announced that Chairman and CEO Wasef Jabsheh purchased an aggregate of 363,278 common shares of the Company for approximately $2.4 million in open market transactions during June, August and September of 2020.\n\n---\n\nAbout IGI: \n\nIGI is an international specialist commercial insurer and reinsurer, underwriting a diverse portfolio of specialty lines. Established in 2001, IGI is an entrepreneurial business with a worldwide portfolio of energy, property, general aviation, construction & engineering, inherent defects, ports & terminals, D&O, financial institutions, general third-party liability, legal expenses, surety, general aviation, professional indemnity, marine liability, political violence, forestry and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Dubai, Amman, Labuan and Casablanca, IGI always aims to deliver outstanding levels of service to clients and brokers. IGI is rated “A” (Excellent)/Stable by AM Best and “A-”/Stable by S&P Global Ratings. For more information about IGI, please visit www.iginsure.com.\n\nForward-Looking Statements: \n\nThis press release may include “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the business of IGI may differ from its actual results and, consequently, you should not rely on forward-looking ...

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