International General Insurance Holdings Ltd. · NASDAQ:IGIC
International General Insurance — Q2 2022 Earnings Presentation
20 slides from International General Insurance's earnings presentation, Aug 18, 2022
Slide 1: IGI Investor Presentation Second Quarter 2022
IGI Investor Presentation Second Quarter 2022 August 2022
Slide 2: Forward Looking Statements
Forward Looking Statements 2 International General Insurance Holdings Ltd. This presentation contains “forward - looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995 . The expectations, estimates, and projections of the busin
Slide 3: Key Market Data and Overview
Key Market Data (1) Stock Exchange Nasdaq Symbol IGIC Market Cap/Price $356mm / $7.80 Sh. Equity/BVPS $394mm / $8.64 Employees 318 » “Underwriting first” individual risk underwriting strategy focused on profitable growth, diversification, and lower volatility » Underwriting portfolio well - diversif
Slide 4: Track Record of Maximizing Total Value Creation
Track Record of Maximizing Total Value Creation 11.7% 13.0% 12.4% 12.1% 10.3% 0.1% 9.8% 7.0% 10.3% 13.6% 26.8% 5% 0% 10% 15% 20% 25% 30% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 6M 2021 Average ROE 2012 - 6M 2022: 11.6% $7.12 $8.32 $9.20 $9.30 $10.43 $10.72 $11.36 $12.17 $10.70 $11.51 $11.5
Slide 5: Superior Total Value Creation
UVE AIZ PLMR RE HI IGIC PGR AMSF G AFG ACGL SIGI IFC - CA KNSL ALL TRV WRB CB RLI WTM FFH - CA UIHC LRE - LON KMPR JRVR SPNT AXS DGICA UFCS ARGO RNR PRA AIG Y EIG ORI SAFT MCY THG MKL HMN CNA BRK.B CINF Return on Tangible Equity and Sharpe Ratio 12/31/2002 - 12/31/2021 Superior Total Value Creation
Slide 6: Global Presence, Local Knowledge
Global Presence, Local Knowledge » Main underwriting hubs in UK, Europe, Middle East / North Africa, Asia Pacific covering a mix of mature and high - growth, under - represented geographies » Distribution relationships and presence in key territories with high degree of local knowledge, cultural com
Slide 7: Strategy to Maximize Total Value Creation over the Long-term
(1) Represents difference in average combined ratios for the period 2012 – Q2 2022 between IGIC and peers. Peers include: MKL, ACGL, WRB, RE, RNR, HSX - LON, AXS, RLI, BEZ - LON, ARGO, KNSL, LRE - LON, JRVR and Lloyd’s of London (2) Source Dowling Research (see Slide 5) Strategy to Maximize Total Va
Slide 8: Well-Positioned for Future Total Value Creation Opportunities
International General Insurance Holdings Ltd. 8 Well - Positioned for Future Total Value Creation Opportunities Build - out of US/European Business » US: $32.8mm GWP through 6/30/2022, including E&S business; all short - tail, primarily energy, property, and contingency » Europe: $23.9mm GWP through
Slide 9: Q2 2022 Overview
Overview Q2 2022 $176.4 million Gross Written Premium Compared to $166.1 mm in Q2’21 Premium growth of 6.2% driven by new business and portfolio optimization achieving rate increases and improved terms and conditions $40.4 million Net Underwriting Results Compared to $20.9 in Q2’21 Increase of 93.3%
Slide 10: Earnings Stability Through Broad Diversification
$250 $200 $150 $100 $50 $0 $300 $350 $400 $450 $500 $550 2012 2013 2014 Energy Contingency 2017 2018 Property Financial Institutions 2019 2020 General Aviation 2021 GWP $Millions Reinsurance Political violence Marine Professional Lines 2015 2016 Engineering Inherent Defects Insurance United Kingdom
Slide 11: Track Record of Profitable Growth & Strong Cycle Management
$226 $240 $252 $242 $232 $275 $302 $351 $467 $546 $584 88.5% 87.9% 86.5% 84.3% 87.1% 105.0% 88.7% 94.3% 89.3% 86.4% 73.5% 1 $0 $100 $200 $300 $400 $500 $600 2012 2013 2014 2015 Reinsurance 2016 2017 2018 Short - Tail 2019 2020 IGI Combined Ratio 2021 LTM Q2'22 Long - Tail Track Record of Profitable
Slide 12: Specialist Individual Risk Strategy to Protect Capital
$80.6 $47.7 $39.6 $40.5 $61.5 $161.3 $99.0 $66.5 $99.2 $112.3 89% 88% 86% 84% 87% 105% 89% 94% 89% 86% 0% 20% 40% 60% 80% 100% 120% 140% 160% $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 '12 '14 '13 IGIC Combined Ratio '15 Weather '16 '17 '18 Earthquakes / Tsunamis '19 '20 '21 Specialist Individual R
Slide 13: Conservative Investment Strategy
Asset Allocation Total Investment Portfolio Credit Quality Fixed Maturity Portfolio Conservative Investment Strategy » Investment portfolio managed conservatively to ensure on - going ability to pay claims and improve ROE while avoiding undue risk Total Investment Portfolio of $905.8 Million 6/30/20
Slide 14: Prudent Reserving Philosophy
37% 56% 2017 6/30/2022 31% 36% 2017 (1) Data based on case + IBNR reserve development. 6/30/2022 IBNR Net Reserves As % of Total Net Reserves Specialty – Long - Tail As % of Total NPW Prudent Reserving Philosophy Anchored in Conservatism and Balance Sheet Preservation » IBNR reserves reflect growth
Slide 15: Commitment to Social Responsibility and Governance
Commitment to Social Responsibility and Governance Our purpose: To provide peace of mind in times of uncertainty. This is core to our values, our business, and our corporate character. We have a long track record of supporting our people and our communities. IGI Values are Embedded Throughout the Co
Slide 16: Appendix
Appendix
Slide 17: Selected Financial Data
Selected Financial Data 17 International General Insurance Holdings Ltd. (1) Represents annualized core operating income for the period divided by average shareholders’ equity; Average shareholders’ equity equals the total equity at the reporting period end plus the total equity as of the beginning
Slide 18: IFRS Summary Income Statement
IFRS Summary Income Statement (1) Includes interest, dividend income, realized and unrealized gain / loss on investments and investment properties, expected credit losses on investments and share of profit or loss from associates net of investment custodian fees and other investment expenses. Year E
Slide 19: IFRS Reconciliation – Core Operating Earnings
IFRS Reconciliation – Core Operating Earnings 19 International General Insurance Holdings Ltd. (1) Represents a non - IFRS financial measure as the line item balances reported in the “IFRS Summary Income Statement” have been adjusted for the related tax impact. (2) Related to the business combinatio
Slide 20: For more information: Investor Relations
For more information: 20 International General Insurance Holdings Ltd. Investor Relations Robin Sidders (Head of Investor Relations) Email: Robin.Sidders@iginsure.com Telephone: +44 2072 200100 Mobile: +44 7384 514785
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