International General Insurance Holdings Ltd.

Good day and welcome to the International General Insurance Holdings LTD's second quarter and first half year 2023 financial results conference call. All participants are in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would like now to turn the conference over to Robin Sitters, Head of Investor Relations. Please go ahead.

Thanks, Alan, and good morning, everyone, and welcome to today's conference call. We'll be discussing our second quarter and half year 2023 results, which you will have seen on our website in the press release that we posted, 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.iginsure.com. We've also posted a supplementary investor presentation, which can be found on our website on the presentations page in the investor section as well. On today's call are Executive Chairman of IGI, Wasif Jobche, CEO, Waleed Jobche, and Chief Financial Officer, Pervez Rizvi. 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 of 2023, and also give some insight into current market conditions and our outlook for the remainder of 2023. At that point, we'll open up the call for Q&A. But before handing over to Wasif, I'll begin with the customary safe harbor language. Our speakers' remarks may contain forward-looking statements. Some of the forward-looking statements can be identified by the use of forward-looking words. We caution you that such forward-looking statements should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us 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, 2022, the company's reports on Form 6K, and other filings with the SEC, as well as our results press release issued yesterday after the close. 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, as you are aware, we voluntarily changed our basis of accounting from IFRS to US GAAP at the very beginning of 2023, January 1st. During the call, we will use certain non-GAAP financial measures for reconciliation of non-GAAP financial measures to the nearest GAAP measure. Please see our earnings release, which has been filed with the SEC and is available on our website. With that, I will turn the call over to our Executive Chairman, Wasif Jobchai.

Thank you, and good day, everyone. Thank you for joining us on this call. We're going to do to do today's call a little bit differently. I'm going to have Walid take the lead and talk you through the results for the second quarter and half year and what we are seeing in the markets. As you know, I remain the executive chair and effective July 1, Walid took over the reins as CEO. This is part of succession plan that was put in place many years ago. Waleed was with me when I founded IGI in 2001, and he has played an important role in developing the IGI culture that has supported our long track record of success, including the exceptional results that we announced last night. This is a natural transition for us, as Walid has served as president alongside me for over a decade. IGI is in good hands with Walid Adele, and the board and I look forward to continuing to provide strong stewardship to the IGI group. I want to congratulate our people on what are really exceptional results for the second quarter and first half of 2023. Once again, it is the consistent and effective execution of our strategy, knowing our capabilities and what we are good at, our deep understanding of markets, and being able to anticipate shifting trends in our markets that is leading to these consistent high-quality results. And here on this point, I'd like to add that I watch the results of our peers in the market, and I would say that IGI is superior to so many of them. And it's because of our understanding of the market and the cycles and laying the cycles correctly. And this is what IGI has been really great in achieving. You know, we don't get attracted to business we think is not making money for our shareholders. The market today for IGI remains one of the healthiest we've seen in many years, and there are plenty of opportunities to grow in certain lines and geographies. Our strategy is not to show growth just for the sake of being bigger companies, but to show profitable growth with business that we can service well for our clients. This means maintaining our focus and discipline and being selective about the business we are writing when our markets are robust and especially when they are not. And here on this point, I'd like to emphasize that the diversification of IGI portfolio geographically is so important. This is what we concentrate on. And so many companies, like us in the market, they miss that and we hear it from them as well when we talk together. Before I hand over to Alit, I'd like to say thank you to all our stakeholders, but especially you, our shareholders, who have put your trust in IGI. I'm very pleased with what we have achieved. since becoming a public company in 2020. We have compounded annual growth in book value per share plus dividend by 11.4% and tangible book value per share plus dividend by 11.1%. I expect RGI to continue on the same path under Walid's leadership. This is not to say that We won't ever have major events impacting our results. That is the nature of our business, and that is why we look at results over the longer term, not just quarter to quarter. I will now hand over to Alit, who will take us through the results and provide more details outlook for the remainder of 23. I'll remain on the call for any questions at the end. Thank you. Walif.