International General Insurance Holdings Ltd. (IGIC) Earnings Call Transcript & Summary

Good morning, and welcome to the 2026 Annual General Meeting of Shareholders of International General Insurance Holdings Limited. Will the meeting please come to order? I'm Wasef Jabsheh, Executive Chairman of the Board of Directors of International General Insurance Holdings Limited. I will be presiding at this meeting. Along with my fellow directors and executive officers of the company, I would like to thank you for joining us today. We appreciate your attendance, your interest and most importantly, your support of International General Insurance Holdings Limited. This Annual General Meeting of Shareholders is held pursuant to the bylaws of the company and written notice to all shareholders. You are participating in the meeting virtually. Our virtual meeting allows us to be more inclusive and reach a greater number of our shareholders. Shareholders may submit questions at any time during this meeting in the space provided on the virtual meeting screen, and we will be -- we will respond after the meeting. After introducing the directors and officers in attendance and dealing with a few procedural matters, we will take up the items to be acted upon. I would like to introduce the other directors of International General Insurance Holdings Limited, who are in attendance today. We welcome our directors, David King, Juan Damura, Andrew Poole and Thomas Collett; Walid Jabsheh, our Group President and Chief Executive Officer; as well as our Director nominee, Michael Gray, who are also in attendance. In addition, our Chief Financial Officer, Pervez Rizvi, is in attendance. In accordance with our amended and restated bylaws, I will act as Chairman of the meeting. And Shane Gubbins of Conyers Corporate Services (Bermuda) Limited, will act as Secretary of the meeting. In addition, the Board of Directors has appointed a representative from Continental Stock Transfer & Trust Company to serve as the independent inspector of the election for this meeting. Margaret Lloyd from Continental Stock Transfer & Trust Company is with us today. I request that she file her oath of office with the secretary of the meeting for inclusion in the minutes of this meeting. Will the Secretary please report on the proof of notice of meeting?

Thank you, Chairman. I have an affidavit of mailing from Continental Stock Transfer & Trust Company, certifying as to the giving of notice of this Annual General Meeting and sending to shareholders of record as of 10th of June 2026, the notice of Annual General Meeting and online availability of proxy materials, which Continental commenced mailing to shareholders on June 25, 2026. The information circular, the form of proxy card and a copy of the 2025 annual report on Form 20-F were also posted on the meeting host website on June 25, 2026. The notice of Annual General Meeting and online availability of proxy materials and affidavit of mailing will be filed with the minutes of this meeting.

The company's financial statements for the year ended December 31, 2025, together with the notes thereto and the independent auditor's report thereon are hereby deemed to have been formally presented before the company's shareholders in accordance with the Bermuda law. Copies of the financial statements are included in the 2025 annual report on Form 20-F, which was posted on the meeting host website on June 25, 2026. Shane, will you please present your report of attendance at this meeting so that we can determine whether a quorum is present?

Mr. Chairman, on June 10, 2026, the record date for this Annual General Meeting, there were issued and outstanding and entitled to vote a total of 42,654,198 common shares. I have been informed by the Inspector of Election that there are 33,604,666 common shares represented by proxy or approximately 78.784% of all of the shares entitled to vote at this Annual General Meeting. The shares so represented exceed 50% of the total shares entitled to vote at this meeting and thus constitute a quorum.

Thank you. On the basis of the report of the Secretary and the Inspector of Election, I find that proper notice has been given and that a quorum is present. Accordingly, this meeting has been properly convened. It is now 7 past 9 a.m. on August 4, 2026, and the polls for voting on all matters are open. All International General Insurance Holdings Limited shareholders entitled to vote at this meeting have the ability to do so online. If you are a shareholder entitled to vote and have not yet voted or if you want to change your previously cast vote, please do so via the website used to access this meeting. Please remember that if you have already voted by proxy, it is not necessary to vote again. After voting has been completed on all matters on the agenda, we will close the polls and the inspector of election will provide a preliminary report. We'll move now to a review of the proposals. The first proposal to come before the meeting is the election of one Class III director to serve until the Annual General Meeting of Shareholders in 2029 or until his successor is duly elected or appointed or his office is otherwise vacated in accordance with the company's amended and restated bylaws. The management of the company recommends the election of the following person as Class III Director of the company, Michael Gray. As explained in the information circular, Wasef Jabsheh and Walid Jabsheh have been reappointed as Class III directors pursuant to the applicable appointment rights under the company's amended and restated bylaws and are not standing for election by shareholders at this meeting. Information concerning Mr. Gray's principal occupation, skills and qualifications and other matters, which may be of interest are contained in the information circular. No other nominations were received pursuant to the procedures established in the company's amended and restated bylaws. Therefore, no additional nominations may be made at this meeting, and I declare the nomination to be closed. The next matter to come before the meeting is the appointment of Ernst & Young LLP. Ernst & Young as the company's independent registered public accounting firm to act as the company's independent auditor for the fiscal year ending December 31, 2026, and the authorization for the Board of Directors acting through the Audit Committee to fix the remuneration of the independent auditor for the fiscal year ending December 31, 2026. The Board of Directors recommends the reappointment of Ernst & Young to serve as the company's independent registered public accounting firm and to audit the company's financial statements for the fiscal year ending December 31, 2026. If any shareholder would like to make a comment regarding any of the proposals, please submit your comment through the web portal.

The polls are about to close. So if you've not yet voted, please do so now. Since everyone has had the opportunity to vote, and it is now 9:12 a.m., I hereby declare the polls closed. The Inspector of Election has delivered her preliminary report, and I will now announce the preliminary results. Based on the Inspector of Election's preliminary report, Michael Gray, the nominee for election to the Board of Directors has been duly elected by an affirmative vote of the shareholders voting at the meeting. And the reappointment of Ernst & Young as the company's independent registered public accounting firm to act as the company's independent auditor for the fiscal year ending December 31, 2026, and the authorization for the Board of Directors acting through the Audit Committee to fix the remuneration of the independent auditor for the fiscal year ending December 31, 2026, have been approved by an affirmative vote of the shareholders voting at the meeting. We will file the final report of the Inspector of Election with the records of this meeting. We expect to report the results of the voting on an SEC Form 6-K to be filed with the SEC.

That concludes the business for the meeting. The meeting is now adjourned, and thank you for attending today's meeting.