IGI Provides Preliminary Q4 EPS Of $0.65 Vs $0.28 YoY
Portfolio Pulse from Benzinga Newsdesk
International General Insurance Holdings Ltd. (IGI) announced preliminary Q4 EPS of $0.65, up from $0.28 YoY, with a net income increase to $33.0 million from $22.5 million. The company anticipates a net income of $118.2 million for 2023, a gross written premiums increase to $688.7 million, and a book value per share of $12.40, marking significant growth over 2022. These results are reported in accordance with U.S. GAAP, a change from IFRS.
February 29, 2024 | 9:46 pm
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IGI reported a significant increase in Q4 EPS to $0.65 from $0.28 YoY, with overall strong financial performance in 2023, including a net income of $118.2 million and gross written premiums of $688.7 million.
The significant increase in EPS and overall financial performance for 2023, including net income and gross written premiums, indicates a strong year for IGI. Transitioning to U.S. GAAP and reporting substantial growth in key financial metrics likely positions IGIC for positive investor sentiment and potential stock price appreciation in the short term.
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