Yahoo Finance International General Insurance Holdings Ltd. (NASDAQ:IGIC) Q3 2023 Earnings Call Transcript
International General Insurance Holdings Ltd. (NASDAQ:IGIC) Q3 2023 Earnings Call Transcript November 15, 2023
International General Insurance Holdings Ltd. beats earnings expectations. Reported EPS is $0.79, expectations were $0.49.
Operator: Good day, and welcome to the International General Insurance Holdings Ltd.’s Third Quarter and First Nine Months of 2023 Financial Results Conference Call. All participants are in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask question. [Operator Instructions] Please note this event is being recorded. I would like now to turn the conference over to Robin Sidders, Head of Investor Relations. Please go ahead.
Robin Sidders: Thank you, Betsy, and good morning, and welcome to today's conference call. Today, we'll be discussing our 2023 third quarter and nine months results. You will have seen our results press release that we issued after the market closed yesterday. If you'd like a copy of the press release, it's available on our website in the Investors section. We've also posted a supplementary investor presentation, which can also be found on our website on the Presentations page in the Investors section. With me on today's call are our Executive Chairman, Wasef Jabsheh; our CEO, Waleed Jabsheh and our CFO, Pervez Rizvi. Wasef 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 third quarter 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. And before we begin, I'll just go through some of 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 20-F for the year ended December 31, 2022, the Company's reports on Form 6-K and other filings with the SEC as well as our results press release issued yesterday afternoon.
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're aware, we voluntarily changed our basis of accounting from IFRS to U.S. GAAP as of the 1st of January, 2023. During this call, we will use certain non-GAAP financial measures for reconciliation of non-GAAP financial measures to the nearest GAAP measure, please see the earnings release which we posted and which has now been filed with the SEC and is available on our website. With that, I'll turn the call over to our Executive Chairman, Wasef Jabsheh.
Wasef Jabsheh: Thank you, Robin, and good day everyone. Thank you for joining us on today's call. I'll just make a few short remarks before handing the call over to Waleed. We have an excellent third quarter with very strong performance across all key metrics. For the quarter, we exceeded our long-term averages on most financial measures through the consistent execution of our strategy. Our deep understanding of our market and being able to and anticipate shifting trends in our markets. I expect this will continue as we close out 2023. The current market conditions continue to provide us with the opportunity to clearly demonstrate our proficiency at shifting our focus to those lines and markets with the highest margins. While always staying within our risk appetite, it is discipline and focus that is leading to the consistency and quality of our results.
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