International General Insurance Holdings Ltd. · NASDAQ:IGIC
International General Insurance — Q4 2022 Earnings Presentation
20 slides from International General Insurance's earnings presentation, Mar 2, 2023
Slide 1: IGI Investor Presentation Fourth Quarter 2022
IGI Investor Presentation Fourth Quarter 2022 March 2023
Slide 2: Forward Looking Statements
Forward Looking Statements 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 business of IGI may differ from its actual results and,
Slide 3: Overview
Overview IGI is an international specialist (re)insurance group with deep technical expertise providing coverage across a diversified portfolio of specialty lines ➢ “Underwriting first” individual risk underwriting strategy focused on profitable growth, diversification, and lower volatility ➢ Underw
Slide 4: Track Record of Maximizing Total Value Creation
Track Record of Maximizing Total Value Creation Tangible Book Value Per Share plus Dividends Public listing on Nasdaq(1) $14 CAGR 2013 – 2022: 4.6% $12.17 $12.43 $11.36 $11.51 $12 $10.72 $10.70 $10.43 $10 $9.20 $9.30 $8.32 $8 $6 $4 $2 $0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (1) IGI comp
Slide 5: Superior Total Value Creation
Superior Total Value Creation ➢ Proven track record of higher, more consistent returns with lower volatility Return on Tangible Equity and Sharpe Ratio 12/31/2013-12/31/2022 Higher Volatility, Higher Returns Lower Volatility, Higher Returns PGR AMSF IFC-CA UVE AIZ TRV CB RLI AFG BRK.B HIG WRB ALL FF
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 compati
Slide 7: Strategy to Maximize Total Value Creation over the Long-term
Strategy to Maximize Total Value Creation over the Long-term Consistent Execution of Balance Sheet Strength, Track Record of Strong Underwriting Strategy Prudent Use of Underwriting Results Capital Individual risk underwriting Underwriting strategy results in facilitates tighter risk control average
Slide 8: Well-Positioned for Future Total Value Creation Opportunities
Well-Positioned for Future Total Value Creation Opportunities ➢ US: $65.1mm GWP through 12/31/2022, including E&S business; all short-tail, primarily energy, Build-out of property, and contingency US/European ➢ Europe: $51.7mm GWP through 12/31/2022; predominantly long-tail lines, supplemented by Bu
Slide 9: Financial Performance Overview Q4/FY 2022
Financial Performance Overview Q4/FY 2022 Q4 2022 Full Year 2022 $156.7 Compared Decline of 4.2% due to foreign $581.8 Compared to Premium growth of 6.6% currency movements, non- driven by new business, million to $163.5 renewal of business due to million $545.6 mm in portfolio optimization Gross Wr
Slide 10: Earnings Stability Through Broad Diversification
Earnings Stability Through Broad Diversification ➢ Meaningful diversification by line of business, product, geography, broker distribution, facility vs. individual risk, and short vs. long-tail risks ➢ ~25 lines of business written globally, supported by 7 offices $600 GWP by Geography 12/31/2022 Au
Slide 11: Track Record of Profitable Growth & Strong Cycle Management
Track Record of Profitable Growth & Strong Cycle Management ➢ Prudent growth and cycle management balancing growth and risk selection ➢ Opportunistic approach to capitalizing on market dislocation ➢ 10 Year 2013 - 2022 GPW CAGR: 10.3% ➢ 10 Year (2013 - 2022) combined ratio average: 88.8% GWP $Millio
Slide 12: Specialist Individual Risk Strategy to Protect Capital and Optimize Profitability
Specialist Individual Risk Strategy to Protect Capital and Optimize Profitability ➢ 73% individually underwritten as of December 31, 2022; 21% MGA-originated; 6% reinsurance ➢ Class-underwriting profit centers irrespective of geography of risk ➢ In-depth risk assessment of underlying exposure ➢ Facu
Slide 13: Conservative Investment Strategy
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 $990.8 Million 12/31/2022 Asset Allocation Credit Quality Geographic Diversification Total Investment Portfo
Slide 14: Prudent Reserving Philosophy Anchored in Conservatism and Balance Sheet Preservation
Prudent Reserving Philosophy Anchored in Conservatism and Balance Sheet Preservation ➢ IBNR reserves reflect growth of specialty long-tail lines (average duration 4-7 years) ➢ History of releasing reserves once losses are fully developed ➢ No U.S. casualty exposure Favourable Reserve Development $40
Slide 15: Commitment to Social Responsibility and Governance
Commitment to Social Responsibility and Governance Our purpose: To provide peace of mind in times of uncertainty.. This is core to our values, our business, and our corporate character.. We have a long track record of IGI Values are supporting our people and our communities. Embedded Throughout Matu
Slide 16: Appendix
Appendix
Slide 17: Selected Financial Data
Selected Financial Data Year ended December 31, Quarter ended December 31, ($ in mm) 2017 2018 2019 2020 2021 2022 2021 2022 Operating Results: Gross Written Premiums $275.1 $301.6 $349.2 $467.3 $545.6 $581.8 $163.5 $156.7 Net Underwriting Results 23.6 56.1 52.0 77.4 105.8 148.5 30.6 24.7 Core Opera
Slide 18: IFRS Summary Income Statement
IFRS Summary Income Statement Year Ended December 31, Quarter ended December 31, ($ in mm) 2017 2018 2019 2020 2021 2022 2021 2022 Gross Written Premiums $275.1 $301.6 $349.2 $467.3 $545.6 $581.8 $163.5 $156.7 Reinsurance Share of Insurance Premiums (114.3) (98.2) (97.1) (128.9) (163.0) (186.5) (52.
Slide 19: IFRS Reconciliation – Core Operating Earnings
IFRS Reconciliation – Core Operating Earnings Year Ended December 31, Quarter ended December 31, ($ in mm) 2017 2018 2019 2020 2021 2022 2021 2022 Profit For the Period $7.0 $25.5 $23.6 $27.2 $43.7 $85.5 $9.2 $25.7 Realized Losses / (Gains) on Investments (3.1) (1.3) (1.0) (0.9) (0.3) 0.7 - 0.1 Net
Slide 20: For more information:
For more information: Investor Relations Robin Sidders (Head of Investor Relations) Email: Robin.Sidders@iginsure.com Telephone: +44 2072 200100 Mobile: +44 7384 514785 International General Insurance Holdings Ltd. 20
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