In its preliminary results, International General Insurance (IGI) has revealed that full year 2023 net income will reach $118.2 million, up from $89.2 million in 2022.
IGI also anticipates an increase in gross written premiums to $688.7 million for the full year 2023, representing growth over 2022 of 18.3%.
Meanwhile, book value per share is expected to increase to $12.40 for the full year 2023, an increase of 36.7% compared to 2022.
As for Q4 of 2023 alone, net income is set to hit $33 million, up from $22.5 million in 222, while gross written premiums are expected to reach $164.9 million, up from $154.8 million in the prior year.
IGI plans to release its unaudited Q4 and full year 2023 financial results on March 12, 2024, after the close of the U.S. financial markets.
