IGI Holdings Reports Q3 2026 Results with Decreased Net Income Amid Elevated Catastrophe Losses
IGI Holdings (IGIC) reported third-quarter 2026 financial results characterized by a strategic shift toward rate adequacy over volume, resulting in an 8.9% year-over-year decrease in Gross Written Premiums to $119.6 million. Net income fell to $28.0 million ($0.66 per share) from $33.5 million in the prior-year period, impacted significantly by elevated catastrophe losses totaling 6.9 points, including 2.6 points attributed to conflict in the Middle East. Despite these headwinds, the company saw growth in specific portfolios, such as a 50% increase in Political Violence and a tripling of its Marine Liability portfolio during the first nine months of 2026. The reinsurance segment also showed strength with a 22% increase in underwriting income. However, the combined ratio rose to 85.7%, up from 76.5% last year, while core operating return on average equity declined to 16.9%.
Tickers: $IGIC
Topics: Catastrophe Losses Combined Ratio Gross Written Premiums Net Income Underwriting Income