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← CockpitCompetitor Analysis › IGIC International General Insurance Holdings Ltd.Open in the cockpit ↗

International General Insurance Holdings Ltd.IGICCompetitor analysis, valuation and peers

United States · USD·Financials›Financial Conglomerates

Specialty insurer and reinsurer covering energy, property, casualty and financial lines internationally, based in Bermuda.

Momentum weak 38
Mkt cap
$1,000M
US dollars, full cap
Free float
33%
of shares outstanding
$/day
$1.74M
20-day average traded
P/B
1.50×
price to book
ROE
15.2%
delivered
Implied ROE
8.0%
what the price asks
Next earnings
118 days
4 Mar 2027
Close · USD$23.54
1D-2.6%
1W-3.4%
1M-5.3%
3M-11.0%
6M-7.0%
YTD-6.2%
1Y+4.8%
ATR %2.5%
Beta0.21
52w lowhigh20.4% off high

What International General Insurance does

Specialty insurer and reinsurer covering energy, property, casualty and financial lines internationally, based in Bermuda.

Underwrites risks that are hard to place elsewhere, such as energy, political violence and marine, and earns premiums less claims and costs, plus investment income on premiums held before claims are paid. Its main office is in Amman, Jordan, with underwriting hubs in London and Bermuda.

Products and services

  • Specialty property insurance
  • Energy/casualty insurance
  • Reinsurance

Customers

  • Corporations/insurers seeking specialty risk cover

Where it sits in the supply chain

  • Financials
  • Specialty commercial insurance and…
  • Energy, property and casualty…

What could go right

  • Hard specialty insurance pricing cycle
  • Emerging market energy/infrastructure insurance demand

What could go wrong

  • Catastrophe/large-loss exposure
  • Insurance pricing cycle softening risk

Moat: narrow (process know-how, regulatory licence). Underwriting expertise in niche specialty/energy risks across emerging markets that generalist insurers avoid.

Headquarters: Amman, Jordan · Founded: 2001 · Employees: 484

Named competitors

International General Insurance at a glance

Size International General Insurance (IGIC) is a United States Financials company (Financial Conglomerates) with a market value of $1,000M, the 2246th largest of 3,117 United States companies the cockpit tracks. Shares closed at $23.54 on 6 Nov 2026.

Performance Over six months the shares fell 7.0%, against -1.9% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 21 in its peer set.

Growth Revenue grew 2.0% over the last twelve months (peer median +2.3%); the operating margin is 20.2% (peer median 15.9%).

Valuation It trades at 1.50× book value against a peer median of 1.26× (8th most expensive of 20).

Price implies The share price implies a return on equity of about 8.0%; International General Insurance delivers 15.2%, so the price asks less than the business earns today.

Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).

Relative performance

10011011 May 202611 Aug 20266 Nov 2026Peer median 99IGIC 94
Six months, rebased to 100: International General Insurance against the median of its 20 peers (local-currency closes).

International General Insurance financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$536M$517M$534M$472M$398M
Revenue growth—-3%+13%+18%—
Net income$103M$126M$133M$111M$84.2M
Free cash flown/a$107M$203M$193M$154M
Capital expendituren/a$944,000$6.63M$77.0M$1.27M
Total debtn/a$1.56M$4.24M$2.13M$2.66M

Quarterly statements and history in the cockpit →

International General Insurance competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-10%0%+10%8698LGFP15MBB415640JCAPMSDL319AMFICVILMTASECRATO-ABCSFSVOL-A004800LUNRPEUGDMIIPATIGIC6-month return →1-month return →
Up and to the right = strong over both horizons. International General Insurance is the large dot.

Fundamentals: return on equity against price-to-book

-20%0%20%40%00×1000×2000×8698P15MBBJCAP319AMFICVILMTASECIGICReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. International General Insurance is the large dot.

Capital: ROE delivered against the ROE the price implies

0%50%100%150%0%50%100%150%8698MBBJCAP319AMTASECPATIGICROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. International General Insurance is the large dot.

International General Insurance competitors and peer comparison

Head to head with its named competitors (IGIC vs LRE.L vs ACGL vs RNR)
CompanyMarket cap6M returnRevenue growthROEPrice / bookImplied ROE
International General Insurance IGIC$1,000M-7%+2%15%1.50×8.0%
Lancashire LRE.L$2.24B+18%-2%22%1.49×12.7%
Arch Capital ACGL$36.6B+14%-5%19%1.58×8.3%
RenaissanceRe RNR$14.0B+16%-21%13%1.34×7.5%

How International General Insurance compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

International General Insurance against its 20 peers (data as of 6 Nov 2026)
MeasureIGICPeer medianRank in peer set
1-month return-5.3%+0.3%5th lowest of 21
6-month return-7.0%-1.9%9th lowest of 21
Return on equity15.2%6.3%5th highest of 18
Price / book1.50×1.26×8th most expensive of 20
Trailing P/E9.8×14.1×5th cheapest of 12
ROE the price implies8.0%8.4%9th least demanding of 19
ROE delivered15.2%6.3%5th highest of 16

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
International General Insurance IGICUnited States$1,000M-7%+2%15%1.50×8.0%15.2%
Monex 8698.TJapan$980M-8%+16%9%1.19×8.4%8.8%
L1 Gold Fund LGF.AXAustralia$1.02B+15%n/an/a1.26×17.9%n/a
Pacific Century Regional Developments P15.SISingapore$943M-6%-37%-17%189.58×n/an/a
Mbb MBB.DEGermany$930M+1%+1%9%1.41×11.6%9.4%
KB Balhae Infrastructure Fund 415640.KSSouth Korea$884M-3%n/an/an/an/an/a
Jefferson Capital JCAPUnited States$1.14B-1%+73%33%2.39×11.0%33.2%
Morgan Stanley Direct Lending Fund MSDLUnited States$1.15B-12%-15%3%0.70×6.6%3.5%
Next Generation Technology 319A.TJapan$1.17B+55%+35%52%17.11×156.5%52.3%
MidCap Financial Investment MFICUnited States$845M-12%+1%-2%0.77×6.9%-2.4%
Viel & Cie VIL.PAFrance$1.25B-1%+6%23%1.88×10.2%23.1%
Metalla Royalty & Streaming MTA.VCanada$763M+17%+89%0%2.95×38.1%-0.2%
Senvest Capital SEC.TOCanada$762M+18%-18%29%0.42×4.2%28.6%
Ratos RATO-A.STSweden$1.38B+24%-23%-2%0.89×7.1%-1.6%
Bain Capital Specialty Finance BCSFUnited States$723M-18%-12%6%0.67×6.4%5.8%
Svolder SVOL-A.STSweden$721M+35%+1,360%7%1.77×11.3%6.8%
Hyosung 004800.KSSouth Korea$1.42B-49%+10%14%0.79×8.3%n/a
LunR Royalties LUNR.TOCanada$1.46B-28%n/an/a2.15×27.1%n/a
Peugeot Invest PEUG.PAFrance$1.54B-16%-101%6%0.38×6.5%6.3%
Drugs Made In America Acquisition II DMIIUnited States$650M+2%n/a5%1.31×7.4%5.3%
Patrizia PAT.DEGermany$633M-13%+3%3%0.51×5.3%2.7%

Questions

Who are International General Insurance's main competitors?
Named competitors: Lancashire Holdings (LRE.L), Arch Capital Group (ACGL), RenaissanceRe (RNR). The cockpit's measured peer set (industry) also includes Monex (8698.T), L1 Gold Fund (LGF.AX), Pacific Century Regional Developments (P15.SI), Mbb (MBB.DE), KB Balhae Infrastructure Fund (415640.KS), Jefferson Capital (JCAP).
Is International General Insurance expensive compared with its peers?
On price / book it trades at 1.50× against a peer median of 1.26×, 8th most expensive of 20 in its peer set. The share price implies a return on equity of about 8.0%; International General Insurance delivers 15.2%, so the price asks less than the business earns today.
How has International General Insurance stock performed?
Over six months to 6 Nov 2026 the shares returned -7.0% against -1.9% for the median peer; over one year +4.8%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.