International General Insurance Holdings Ltd. (NASDAQ:IGIC) Q4 2022 Earnings Call Transcript

Waleed Jabsheh: I mean, we saw and we’ve been seeing, not erratic, but it’s almost like consistent in the long-tail side; on the FI, the D&O, we’ve seen trending and downward pressure on rates consistently. And we expect that to continue throughout the year. Where we probably saw the erratic behavior that has now reversed itself more so far this year, is probably on the property side in all honesty and more so on the international book than the U.S. book, but that — again that become — that come around to a different story so far this year. I mean, we will continue to focus on those areas where we feel the returns are healthiest. And that’s always been how we’ve done things and I think are the critical parts of our strength and competitive edge. And I think ’23 is going to provide great opportunity and more opportunity than ’22 did.

Mark Dwelle : And can you just remind me about what percentage of your book is written in pounds and in euros as compared to dollars?

Waleed Jabsheh: It’s about a third of the book that is written in pounds and euros combined, maybe a little over 35% to 40%.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Wasef Jabsheh for any closing remarks.

Wasef Jabsheh: Thank you all for joining us today. We appreciate your continued support. And we will continue building on our successes, so that we continue to generate value for you in the future years. If you have any additional questions, please contact Robin and she will be happy to assist. Have a good day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.