International General Insurance Holdings Ltd.

Good day and welcome to the International General Insurance Holdings LPD's second quarter and half-year 2022 financial results conference call. All participants are in the list-and-owning mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would like to turn the call to Robin Sitters, Head of Investor Relations. Please go ahead.

Thanks, Anthony. And good morning, everyone. Welcome to today's conference call where we will be discussing our second quarter and half year 2022 results. You will have seen our results press release, which we issued after the market closed yesterday. If you'd like a copy of the press release, it's available in the investor section of our website at www.ijinsure.com. We've also posted a supplementary investor presentation which can be found also on our website on the presentations page in the investor section. On today's call are Wasif Jobche, Chairman and CEO, Waleed Jobche, President, and Pervez Rizvi, Chief Financial Officer. Wasif will begin the call with some high level comments before handing over to Waleed to talk through the key drivers of our results for the second quarter and half year. and also giving some insight into current market conditions and our outlook for the remainder of 2022. At that point, we'll open the call up for Q&A. So, before we begin, I'll just cover some of the customary Safe Harbor language. Our speaker's remarks may contain forward-looking statements. Some of the forward-looking statements can be identified by the use of forward-looking words. that such forward-looking statements should not be regarded as a representation bias that future plans, estimates, or expectations contemplated bias will in fact be achieved. Forward-looking statements involve risks, uncertainties, and assumptions. Actual events or results may differ materially from those projected in the forward-looking statements due to a variety of factors, including the risk factors set forth in the company's annual report on Forms 20F for the year ended December 31st, 2021, the company's reports on Form 6K and other filings with the SEC, as well as our results press release issued yesterday evening. We undertake no obligation to update or revise publicly any forward-looking statements which speak only as of the date they are made. In addition, we used some non-IRS financial measures in this conference call. For a reconciliation of non-IRS financial measures to the nearest IFRS measure, please see our earnings release, which has been filed with the SEC and is available on our website. So with that, I'll turn the call over to our Chairman and CEO, Wasip Jobche.

Thank you, Aubyn, and to everyone. Thank you for joining us on today's call. On the back of our strong start in the first quarter of 2022, IGI continues to perform well with another set of excellent results recorded for the second quarter and set-up of 2022. Our six-month combined ratio of 73.5% and cooperating return on average shareholder equity of 26.8% demonstrate how our strategy and execution capabilities are driving continued high quality returns and shareholder value. We look at our success over a long term period. One or two quarters may stand out compared to others. We are solely focused on our ability to perform well over a sustained period of time. And that is what we are doing at IGI. Over the past 10 years, we have achieved an average combined ratio of 80%, and a core operating return average equity of more than 11%. This is an impressive track record of earnings, stability, and consistency. In our 20 years, we have grown significantly on every measure, and we are continuing to grow at a steady pace. We are expanding our underwriting portfolio and our footprint. into new lines of business and territories. We are offering new options and taking on new underwriting support. Walid will talk more on this respect, but I would simply note that we are focused on managing this growth in such a way that we maintain all those qualities that have helped drive our past and current success. We are initiating and implementing the measures across the company to ensure that we have the right infrastructure and the right people to support all these changes. In a moment, I will hand over to Walid to discuss our results in more detail and our outlook on the market and the specifics of the opportunities ahead of us. is peaking, market conditions remain favorable, and we continue to see attractive rate increases across a number of business lines and territories, and we see excellent opportunities to expand our portfolio. We have noted in prior quarters that the pace of rate increases is declining, but we are still achieving meaningful increases across most of the lines we like and we are exactly where we need to be to continue to benefit from the momentum for the foreseeable future. Clearly we are operating in an increasingly challenging environment where elevated inflationary pressures and rising interest rates and broader economic pressure pose really challenges our business. While we are very focused on what's going on inside AGI, we are equally focused on what's going on around us. to navigate these challenges and stay successful means having the right people with the right experience and the right level of focus and discipline to manage through any scenario and deliver the promises we make. This is what we have at IGI and I'm confident that we will stay the course and continue delivering the quality of results that we are seeing from us. We are very optimistic about our future and continuing to deliver on our commitment to creating value for the long term. Now Waleed can take you through the results for the quarter and half year and provide more details on our outlook for the remainder of 2022. Waleed, you can go ahead.