International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has named the full board of directors that will be in place following its business combination with Tiberius Acquisition Corp.
First announced back in October 2019, the deal priced IGI at approximately 1.26x its book value of $316 million (as of June 30, 2019), implying a total deal value of roughly $398 million.
Under the terms of the agreement, IGI and Tiberius will combine under a new holding company to be domiciled in Bermuda, called International General Insurance Holdings Limited, Bermuda (IGI Holdings).
Following the closing of the business combination, the board of directors of IGI Holdings will consist of seven members, four of whom will be independent directors.
The new board will have two IGI executive officers: Chief Executive Officer and founder Wasef Jabsheh, who will serve as Chairman of the Board, and IGI president Waleed Jabsheh.
David Anthony is an independent insurance consultant and former director and senior ratings analyst of S&P Global Ratings as well as former chairman of its Insurance Ratings Committee, he has been on the current IGI Board since 2018.
David King, who has served on the current IGI Board since 2014, is currently the chairman of its Audit and Risk Committee. He has also serves on the board of IGI’s UK subsidiary and is currently non-executive chairman of its board.
Michael Gray, is CEO of Tiberius, and CEO of The Gray Insurance Company, chairman of the Louisiana Insurance Guaranty Association, and director of both American Insurance Association and the Property Casualty Insurers Association of America.
Wanda Mwaura most recently served as Chief Accounting Officer and head of External Reporting at PartnerRe. Prior to joining PartnerRe in 2013, she was a partner at Ernst & Young.
In addition, Tiberius Chief Investment Officer Andrew Poole, will serve as a director.
