IGI TO TAKE ADVANTAGE OF LONG-TAIL LINES HARDENING

International General Insurance (IGI) expects to take advantage of significant hardening in long-tail lines to boost its growth as rates in shorter-tail business begin to tail off. “If you look at the rate increases achieved in the first six months, in short-tail it was about 8% rate increases across the book. In the long-tail segment, it was in excess of 30% rate increases,” IGI president, Waleed Jabsheh, told Insurance Day. These longer-tail lines include professional indemnity, directors’ and officers’ liability and financial institutions, Jabsheh said. In the year to June 30, 2021 IGI recorded top-line growth of 12%. Jabsheh said he expects a similar rate of growth overall in the year to June 30, 2022.