International General Insurance Holdings announces $31.26m net profit for 2013

AMMAN — International General Insurance Holdings (IGIH) announced this week in a press statement that it generated $31.26 million net earnings for the 2013 financial year. The amount is a 24 per cent increase over the $25.25 million recorded in 2012. Wasef Jabsheh, vice chairman and chief executive officer of IGIH, said in the statement: “2013 was another year where we have been able to achieve record profit. These results clearly demonstrate that our business strategy, underwriting guidelines, and risk management have worked positively in our favour.” He added: “Although we expect 2014 to be a fairly tough year due to increased competition, we are re-aligning our business strategies and approaches to meet the challenges of market cycles and uphold our corporate mission.”