IGI gets provisional approval to write US E&S business

Re/insurer International General Insurance (IGI), a Dubai-based insurance group with operations in Bermuda and London, has been given green light to write US excess and surplus (E&S) lines business, effective April 1.

The company's Bermuda subsidiary has been granted provisional approval by the National Association of Insurance Commissioners (NAIC).

The approval is subject to the execution of the IGI Bermuda US E&S lines trust agreement that is currently in progress.

It is expected that IGI Bermuda will be named on the NAIC’s April Quarterly Listing of Alien Insurers.

IGI Bermuda intends to write short-tail US E&S business in energy, property and political violence specialty lines.

Earlier in Jan, IGI received regulatory approval from the Bermuda Monetary Authority in connection with its  business combination with Tiberius Acquisition.