31 January 2020Insurance

IGI receives Bermuda Monetary Authority approval for Tiberius transaction

Specialist commercial re/insurer International General Insurance Holdings has received regulatory approval from the Bermuda Monetary Authority in connection with its previously announced business combination with Tiberius Acquisition Corp (Tiberius), a publicly traded special purpose acquisition company.

This approval, received on January 28, 2020, is one of necessary steps towards successfully completing the transaction with Tiberius. IGI is awaiting approval from additional regulatory agencies including the Prudential Regulation Authority (UK) and the Dubai Financial Services Authority.

The companies intend to close the business combination two business days after satisfaction of the requisite closing conditions and approvals contained in the Business Combination Agreement. Upon close, IGI will be domiciled in Bermuda as International General Insurance Holdings and trade under the NASDAQ ticker IGIC.

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
13 January 2020   Senior hire comes as re/insurer 'on brink of an important transition'.
Insurance
7 February 2020   International General Insurance is awaiting approval from the UK's Prudential Regulation Authority.
Insurance
13 March 2020   The NAIC approval is subject to the execution of its ongoing US E&S lines trust agreement.