IGI releases its Annual Report & Accounts 2016
IGI today released its Annual Report & Accounts for the year 2016. The Board of Directors in its Letter from the Board said it was pleased with the good result for 2016 despite the continued competitive trading environment and downward pressure on rates.
“IGI underwriting teams maintained their focus on quality business and bottom line profit through these challenging times enabling us to produce a 10.3% Return on Capital,” the Letter continued.
Gross written premiums were US$231.4 million and net profits for 2016 amounted to US$32.1 million. The combined ratio was 87%.
Total assets were US$818.5 million and shareholders’ equity rose to US$311.2 million. Investments were US$493.0 million and net investment was US$12.8 million.
For more details and access to full details of the Annual Report, please click on the Annual Report & Accounts 2016 icon on the IGI Home Page.