Added to YB: 2024-03-21
Pitch date: 2024-03-20
IGIC [bullish]
International General Insurance Holdings Ltd.
+102.94%
current return
Author Info
@ArmsGarrett is a a research analyst and portfolio manager whoe stock pitches on Twitter. Follow on Twitter
Company Info
International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide.
Market Cap
$1.0B
Pitch Price
$12.29
Price Target
N/A
Dividend
4.38%
EV/EBITDA
6.43
P/E
8.52
EV/Sales
1.57
Sector
Insurance
Category
value
Strategic Advantage: IGIC's Strong Position in Specialty Insurance
IGIC ($12.85): Specialty insurer at 1x BV, 6x EPS. 87.7% 10yr avg CR, 13% ROE. Scaled biz now 1.1x premium/equity (+400bps ROE), 4.3% investment yield. Mgmt sees best UW environment ever. 85% 5yr avg CR, 22%+ ROE potential. Trades at 30% peer discount (1.5x BV) due to SPAC IPO & low volume. Buybacks + re-rating to 1.3x BV = 25%+ IRR.
Read full article (3 min)