International General Insurance Holdings
IGIC on Nasdaq. Insurance carriers, nec. Market value $1.1bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
Nothing stood out in the numbers we check.
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 23 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.50.
Profit per $100 you pay: $11.97.
Quality score: 100 of 100. Price score: 87 of 100. Our list needs 70 on quality and 60 on price.
$24.80 a share, 19% above its 1-year low
Over the past year the price has ranged from $20.82 to $29.58.
Dividend: 4.3% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $350m | $393m | $499m | $539m | $517m |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.04bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsStrong, 10.2% a year
- Buying back its own sharesYes, 12% fewer since 2021
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 21 April 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 68 funds in all.
- Royce & AssociatesChuck Royce
- Value
- $86m
- Share of fund
- 0.7%
- Heartland AdvisorsBill Nasgovitz
- Value
- $8m
- Share of fund
- 0.3%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $86m | 0.7% | |
| Diamond Hill Capital ManagementRic Dillon (founder) | $14m | 0.1% | Added |
| Heartland AdvisorsBill Nasgovitz | $8m | 0.3% |
Largest holders overall
- Royce & Associates$86m
- Gilder Gagnon Howe$32m
- Diamond Hill Capital Management$14mAdded
- Russell Investments Group$12mAdded
- Heartland Advisors$8m
- Shay Capital$6mAdded
- Deroy & Devereaux Private Investment Counsel$5m
- Renaissance Technologies$4mAdded
- Citadel Advisors$3mAdded
- Hingham Institution for Savings$2mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Wasef JabshehInsider or founderat least 34.0%+1.0 pts(filed with 1 related holder)Since 24 March 2026
What they said
Item 4 of the Original 13D is hereby amended and supplemented to include the following: "On February 23, 2026, the Issuer granted to the Reporting Person a restricted stock award of 47,500 Common Shares (the "2026 Restricted Shares"). Of the 2026 Restricted Shares, 15,833 Common…
Read the filing - Oman International Development & Investment Co. SAOGPassive investor21.4%Since 9 July 2025
What they said
Item 4 of the Existing Schedule 13D is hereby amended to include the following after the final paragraph thereof: The Reporting Person acquired the Common Shares for investment purposes and has entered into sales in accordance with its investment strategy. The Reporting Person…
Read the filing - Royce & AssociatesPassive investor6.8%+1.6 ptsSince 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
Wasef Jabsheh Insider or founder | at least 34.0%+1.0 pts (filed with 1 related holder) | 24 March 2026 | What they saidItem 4 of the Original 13D is hereby amended and supplemented to include the following: "On February 23, 2026, the Issuer granted to the Reporting Person a restricted stock award of 47,500 Common Shares (the "2026 Restricted Shares"). Of the 2026 Restricted Shares, 15,833 Common… Read the filing |
Oman International Development & Investment Co. SAOG Passive investor | 21.4% | 9 July 2025 | What they saidItem 4 of the Existing Schedule 13D is hereby amended to include the following after the final paragraph thereof: The Reporting Person acquired the Common Shares for investment purposes and has entered into sales in accordance with its investment strategy. The Reporting Person… Read the filing |
Royce & Associates Passive investor | 6.8%+1.6 pts | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
International General Insurance Holdings doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.