IGIC

MKT CAP:$1B

International General Insurance Holdings Ltd.

Market Cap

$1B

Financial Services·Insurance - Diversified· JO·NASDAQ

Financials·Insurance·NASDAQ

Stock Price

$27.05+$2.02 (+8.07%)

Apr 17, 2026

Company Details

International General Insurance Holdings Ltd. provides specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It underwrites a divers...

CEO

Waleed Wasef Jabsheh

IPO Date

Apr 10, 2018

Website

www.iginsure.com

Key Metrics TTM

Revenue

$528M

+0.3% YoY

Net Income

$127M

EPS (Diluted)

$2.87

Free Cash Flow

$0

Revenue / Share

$12.37

Gross Margin

47.9%

Operating Margin

24.1%

Net Margin

24.1%

FCF Margin

0.0%

P/S

2.2x

P/E

9.1x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Apr 21, 2026

NEW

$517M-1.8%EPS $2.89

Q4 2025

Apr 21, 2026

NEW

$126M+3.3%EPS $0.76

Q3 2025

Nov 4, 2025

$123M-15.5%EPS $0.75

Q2 2025

Sep 3, 2025

$143M+5.7%EPS $0.77

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$95M	$21M	$5M
Q3 21	$96M	$31M	$16M
Q4 21	$116M	$38M	$10M
Q3 22	$96M	$41M	$23M
Q1 23	$119M	$54M	$36M
Q2 23	$132M	$64M	$43M
Q3 23	$95M	$36M	$12M
Q4 23	$132M	$60M	$35M
Q1 24	$124M	$61M	$37M
Q2 24	$135M	$59M	$34M
Q3 24	$145M	$60M	$36M
Q4 24	$122M	$51M	$26M
Q1 25	$136M	$51M	$29M
Q2 25	$143M	$63M	$35M
Q3 25	$123M	$59M	$33M
Q4 25	$126M	$80M	$31M

Valuation

Quarter	P/S	P/E
Q2 21	4.0x	99.4x
Q3 21	3.5x	49.5x
Q4 21	3.2x	41.0x
Q3 22	2.9x	22.4x
Q1 23	2.7x	14.2x
Q2 23	2.5x	10.9x
Q3 23	2.6x	10.8x
Q4 23	2.4x	9.8x
Q1 24	2.4x	9.5x
Q2 24	2.4x	10.1x
Q3 24	2.2x	8.4x
Q4 24	2.2x	8.6x
Q1 25	2.2x	9.3x
Q2 25	2.1x	9.2x
Q3 25	2.2x	9.3x
Q4 25	2.2x	9.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$0	$0
Q2 21	$0	$0
Q3 21	$0	$0
Q4 21	$0	$0
Q3 22	$0	$0
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0
Q3 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q1 20	$0
Q2 21	$0
Q3 21	$0
Q4 21	$0
Q3 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+65.4%	+85.2%
Q3 21	+81.6%	+65.4%
Q4 21	+34.9%	+32.9%
Q3 22	+75.1%	+28.7%
Q1 23	+25.9%	-8.0%
Q2 23	+37.9%	+11.1%
Q3 23	-18.5%	-22.8%
Q4 23	+37.8%	+34.5%
Q1 24	+3.7%	+4.0%
Q2 24	+2.7%	+14.4%
Q3 24	+53.0%	+32.6%
Q4 24	-7.2%	-0.5%
Q1 25	+10.1%	+24.6%
Q2 25	+5.7%	+6.5%
Q3 25	-15.5%	-18.3%
Q4 25	+3.3%	-1.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	—
Q4 21	$2M	1.6%
Q3 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$3M	2.5%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$1M	0.9%
Q4 24	-$4M	-2.9%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 21	$14M	—
Q3 21	$13M	—
Q4 21	$12M	$1M
Q3 22	$17M	—
Q1 23	$17M	—
Q2 23	$19M	—
Q3 23	$21M	—
Q4 23	$23M	—
Q1 24	$22M	—
Q2 24	$22M	—
Q3 24	$24M	—
Q4 24	$22M	—
Q1 25	$22M	—
Q2 25	$24M	—
Q3 25	$24M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$175M	$0	$175M
Q2 22	$214M	$0	$214M
Q3 22	$247M	$0	$247M
Q4 22	$138M	$0	$138M
Q1 23	$157M	$753M	$909M
Q2 23	$170M	$766M	$937M
Q3 23	$115M	$816M	$931M
Q4 23	$177M	$121M	$298M
Q1 24	$150M	$851M	$1.0B
Q2 24	$168M	$70M	$237M
Q3 24	$161M	$1.1B	$1.2B
Q4 24	$155M	$225M	$381M
Q1 25	$103M	$1.1B	$1.2B
Q2 25	$165M	$1.1B	$1.2B
Q3 25	$191M	$1.1B	$1.3B
Q4 25	$186M	$0	$186M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	46M	+27.1%	-6.1%
Q3 21	46M	0.0%	-6.1%
Q4 21	46M	0.0%	-6.1%
Q3 22	46M	+0.2%	+27.4%
Q1 23	44M	-2.6%	-2.4%
Q2 23	43M	-2.9%	-5.3%
Q3 23	43M	-0.2%	-5.5%
Q4 23	43M	+0.2%	-5.5%
Q1 24	44M	+2.8%	-0.2%
Q2 24	44M	-0.7%	+2.1%
Q3 24	46M	+4.1%	+6.5%
Q4 24	46M	+0.9%	+7.2%
Q1 25	45M	-2.0%	+2.3%
Q2 25	44M	-2.0%	+0.9%
Q3 25	44M	0.0%	-3.1%
Q4 25	43M	-3.8%	-7.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$47M	2
Q3 21	$48M	2
Q4 21	$58M	2
Q3 22	$48M	2
Q1 23	$60M	2
Q2 23	$66M	2
Q3 23	$47M	2
Q4 23	$66M	2
Q1 24	$62M	2
Q2 24	$68M	2
Q3 24	$73M	2
Q4 24	$61M	2
Q1 25	$68M	2
Q2 25	$71M	2
Q3 25	$61M	2
Q4 25	$63M	2

Revenue / Employee