Company shares purchase authorization expanded by IGI board

The board of directors at International General Insurance Holdings Ltd, a Bermuda-based company, has decided to increase its share repurchase authorisation to 7½ million shares of its common stock. This decision represents an increase of 2½ million shares from the previous authorisation of five million shares, which was announced in May 2022.

At the close of the US financial markets yesterday, the company had 475,203 shares remaining under the previous authorisation. With the additional 2½ million shares now authorized for repurchase, the total remaining under the new authorisation is 2,975,203 common shares.

International General Insurance Holdings Ltd operates in various locations including Bermuda, London, Malta, Dubai, Amman, Oslo, Kuala Lumpur, and Casablanca. Wasef Jabsheh serves as the executive chairman of the board at IGI.