International General Insurance Holdings (IGIH) has posted net profits of $21.12 million for the first half of this year, an increase of 74.5 per cent compared to $12.10 million for the same period in 2012.

Wasef Jabsheh, vice chairman and CEO, said: “We have been able to achieve record profits and exemplary financial ratios as compared with our peers in the international market. These results are testament to our rigorous underwriting philosophy and prudent risk selection."

"Our underwriting teams have and will continue to always focus on achieving bottom-line results as opposed to top-line growth - the group’s first half results are clear evidence of the success of said policy,” said Jabsheh.

IGIH board of directors has declared interim dividends of $5.735 million for the first half, said a statement. - TradeArabia News Service