International General Insurance earnings climbed 10 percent in 2014

Dubai-based International General Insurance Holdings Ltd. (IGI) reported today that its net earnings for 2014 climbed nearly 10 percent.

Net earnings were nearly $35 million compared to just more than $31 million for fiscal year 2013. Premiums in 2014 were more than $251.5 million, up from $240 million a year earlier.

“2014 was another stellar year for IGI, albeit a soft market environment,” CEO and Vice Chairman Wasef Jabsheh said. "IGI’s strategy and underwriting discipline has again proven that it is capable of dealing with the current market cycle. Although we continue to see pricing pressure in 2015, IGI has demonstrated that it can adapt and create shareholder returns without assuming more risk on its underwriting or investments.”

The company’s board of directors proposed dividends of 4 cents a share for the second half of the year, bringing the total dividend to 9 cents per share for 2014.