1 October 2020Insurance

IGI authorises $5m share repurchase plan

International General Insurance Holdings (IGI) plans to repurchase its common shares and/or warrants for an aggregate consideration of up to $5 million.

The repurchase may be made in the open market, in privately negotiated transactions, block trades, or other transactions. They will be subject to market conditions and other business considerations.

IGI has discretion regarding the timing and volume of its repurchases under the authorisation approved by its board of directors. It is not obligated to repurchase any minimum number of securities and the repurchases may be modified, suspended, or discontinued at any time.

Wasef Jabsheh, IGI’s chairman and chief executive, purchased an aggregate of 363,278 common IGI shares for approximately $2.4 million in open market transactions during June, August and September of 2020, the insurer said.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
14 August 2020   Chairman and CEO Jabsheh highlights rate increases “in virtually every line of business” in Q2.
Insurance
21 November 2019   ‘The global insurance market is in a better position than we have seen for a long time.’
Insurance
13 November 2020   The re/insurer's CEO is 'pleased' with the strong set of results despite the challenges posed by COVID-19.