INTERNATIONAL GENERAL INSURANCE HOLDINGS LTD.

Financials International General Insurance Holdings Ltd.

Equities

IGIC

BMG4809J1062

Property & Casualty Insurance

Real-time Estimate Cboe BZX Other stock markets 10:04:35 2024-05-13 am EDT			5-day change	1st Jan Change
14.44 ^USD	+0.10%		+7.70%	+12.89%

Mar. 12	Tranche Update on International General Insurance Holdings Ltd.'s Equity Buyback Plan announced on May 23, 2022.	CI
Mar. 12	International General Insurance Holdings Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	59.47	367	396	393.3	548.5	638.9	-
Enterprise Value (EV) ¹	59.47	367	396	393.3	548.5	638.9	638.9
P/E ratio	-	11.7 x	9.1 x	4.6 x	5.05 x	4.96 x	4.81 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	-	0.79 x	0.73 x	0.68 x	0.8 x	0.85 x	0.79 x
EV / Revenue	-	0.79 x	0.73 x	0.68 x	0.8 x	0.85 x	0.79 x
EV / EBITDA	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	0.93 x	0.92 x	0.84 x	1.04 x	0.99 x	0.83 x
Nbr of stocks (in thousands)	5,691	45,426	48,885	49,158	42,587	44,306	-
Reference price ²	-	8.080	8.100	8.000	12.88	14.42	14.42
Announcement Date	3/2/20	3/11/21	3/3/22	3/2/23	3/12/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	-	467.3	545.6	581.8	688.7	750.4	806.4
EBITDA	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	33.7	45.5	87.7	126	133.1	139.8
Net income ¹	23.6	29.5	40.6	85.5	118.2	128.8	132.8
Net margin	-	6.31%	7.44%	14.7%	17.16%	17.16%	16.47%
EPS ²	0.1700	0.6900	0.8900	1.740	2.550	2.910	3.000
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	3/2/20	3/11/21	3/3/22	3/2/23	3/12/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	115.3	163.5	128.1	176.3	120.6	156.7	173.9	199.6	150.3	164.9	181.6	218.2	167.6	183	197.9
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	15.6	9.6	20.1	21.16	19	27.5	36.3	42.9	12.3	34.6	37.4	29.7	32.8	33.1	36
Net income ¹	16.1	8.5	19.4	21.87	18.6	25.7	33.9	40.5	10.9	33	37.9	28.3	31.15	31.5	34.2
Net margin	13.96%	5.2%	15.14%	12.4%	15.42%	16.4%	19.49%	20.29%	7.25%	20.01%	20.87%	12.97%	18.59%	17.21%	17.28%
EPS ²	0.3500	0.1900	0.3900	0.4500	0.3800	0.5300	0.7100	0.8800	0.2400	0.7200	0.8400	0.6400	0.7000	0.7100	0.7700
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/12/21	3/3/22	5/19/22	8/18/22	11/10/22	3/2/23	5/16/23	8/15/23	11/14/23	3/12/24	5/7/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	9.03%	13.6%	22.7%	28.1%	22%	18.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	-	8.690	8.830	9.490	12.40	14.60	17.30
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	3/2/20	3/11/21	3/3/22	3/2/23	3/12/24	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for International General Insurance Holdings Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

14.42 USD

Average target price

17 USD

Spread / Average Target

+17.89%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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