IGI Appoints Richard Foster as Head of Property, Political Violence and Contingency Business; Launches New Contingency Insurance Business Line

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 Richard Foster has joined the Company, based in its London office.\n\nAs Head of Property, Political Violence and Contingency, Foster will be responsible for the Company’s property and political violence lines of business, and the newly created contingency insurance line of business. The Company will be launching the contingency line of business to take advantage of the considerable opportunity in this line stemming from market dislocation caused by COVID-19.\n\nFoster, who has 24 years of specialty lines underwriting experience, joins from London-based Agile Risk Partners, where he was Director of Underwriting. Previously, he was Head of Global Property, London for Zurich Insurance PLC and Brit Global Specialty, and prior to that held senior roles with Allied World (AWAC).\n\nThe contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, and/or other contractual obligations.\n\n“We are excited to welcome Richard to IGI,” said IGI UK CEO Mr. Andreas Loucaides. “He comes with significant underwriting experience and will be a strong fit as IGI continues to grow and evolve. The addition of the contingency line of business complements our existing portfolio of specialty risks, and consistent with our measured underwriting approach, we will develop the contingency business with the same level of pragmatism and commitment to underwriting profitability.”\n\n---\n\nAbout IGI:\nIGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction & engineering, ports & terminals, marine cargo, political violence, financial institutions, general third-party liability (casualty), legal expenses, professional indemnity, D&O, surety, marine trades, marine liability, and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Dubai, Amman, Labuan and Casablanca, IGI 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 v...

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