International General Insurance reports Q3 core EPS 56c, two est. 25c

IGI Chairman and CEO Mr. Wasef Jabsheh said, "IGI recorded another strong set of results in the third quarter of 2022, continuing the momentum of the prior two quarters, and culminating in a combined ratio of 73.6% and a core operating return on average shareholders’ equity of 26.9% for the first nine months of 2022." Net underwriting results improved to $42.0 million for the third quarter of 2022 from $26.7 million for the third quarter of 2021, largely driven by growth in net premiums earned and a lower level of net claims and claim adjustment expenses. Gross written premiums were $120.6 million for the quarter ended September 30, 2022, representing growth of 4.6% compared to gross written premiums of $115.3 million for the quarter ended September 30, 2021.