The company's liquidity position remains difficult to assess due to the absence of disclosed operating cash flow figures, even as quarterly claims payments fluctuated significantly between $46.9 million and $84.9 million.
| Cash from Operations | 108.14M | 209.47M | 196.61M | 154.88M | 175.29M | -90.57M | 21.4M | 104.09M | 12.96M | -2.93K | 0 |
| Operating CF Growth % | -48.38% | 6.54% | 26.94% | -11.65% | 293.53% | -523.2% | -79.44% | 703.06% | 442030.28% | - | - |
| Operating CF / Revenue % | 20.93% | 39.83% | 41.21% | 39.27% | 50.52% | -29.38% | 8.56% | 50.05% | 7.22% | -0% | 0% |
| Net Income | 126.25M | 135.2M | 118.2M | 89.23M | 46.81M | 33.74M | 25.25M | 25.6M | 7.02M | -1.6K | 35M |
| Depreciation & Amortization | 3.58M | 3.4M | 2.55M | 3.08M | 2.77M | 2.61M | 1.96M | 1.36M | 1.49M | 582.82K | 0 |
| Stock-Based Compensation | 0 | 4.63M | 3.25M | 2.3M | 1.19M | 450K | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | -3.01M | -508K | 358K | 8.67M | -818K | 16.5K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 6.71M | 8.08M | 20.27M | 5.22M | 9.21M | -159.36M | -49.24M | 31.42M | -2.86M | -13.79M | -35M |
| Working Capital Changes | -28.41M | 61.17M | 52.85M | 54.68M | 106.63M | 32.8M | 43.42M | 45.71M | 7.32M | -1.33K | 0 |
| Cash from Investing | 35.93M | -186.57M | -90.36M | -1.24M | -2.49M | -1.91M | -1.03M | -1.15M | -1.57M | -12.07M | 0 |
| Capital Expenditures | -944K | -6.63M | -3.25M | -1.27M | -2.35M | -1.91M | -1.06M | -1.15M | -1.62M | -11.47M | 0 |
| Acquisitions | 47K | 0 | -1.1M | 26K | -146K | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | -229.63M | -400.76M | -330.37M | -320.85M | -168.28M | 0 | 0 | -174.22M | 0 | 0 | 0 |
| Sale/Maturity of Investments | 265.79M | 116.33M | 318.07M | 62.7M | 123.22M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 670K | 104.5M | -73.71M | 258.15M | 45.06M | 0 | 22.57K | 450.25K | 50.39K | -605.62K | 0 |
| Cash from Financing | -107.45M | -49.68M | -49.16M | -12.55M | -16.89M | 35.66M | -16.47M | -19.14M | -11.47M | 7.93K | 0 |
| Dividends Paid | -46.2M | -26.53M | -1.75M | -10.15M | -16.11M | -4.36M | -10.82M | -4.09M | -11.47M | -14.34M | 0 |
| Share Repurchases | -61.92M | -23.15M | -31.09M | -2.39M | 0 | -80M | -5.05M | -15.05M | 0 | 0 | 0 |
| Stock Issued | 664K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 0 | 0 | 0 | -783K | -796K | -606K | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | -16.32M | 0 | 0 | 120.82M | 268 | 0 | 0 | 0 | 0 |
| Net Change in Cash | 36.61M | -26.78M | 57.08M | -104.2M | 108.71M | -59.02M | 7.73M | 80.58M | 1.8M | -13.48M | 0 |
| Exchange Rate Effect | 0 | 0 | 0 | -3.36M | -1.7M | -2.21M | 3.83M | -3.22M | 1.88M | -1.41M | 0 |
| Cash at Beginning | 168.25M | 195.02M | 137.94M | 242.15M | 133.44M | 192.46M | 184.73M | 104.15M | 102.35M | 13.5M | 0 |
| Cash at End | 204.86M | 168.25M | 195.02M | 137.94M | 242.15M | 133.44M | 192.46M | 184.73M | 104.15M | 25K | 0 |
| Free Cash Flow | 107.19M | 202.84M | 193.36M | -86.62M | 127.44M | -92.48M | 20.35M | 102.94M | 11.34M | -11.47M | 0 |
| FCF Growth % | -47.15% | 4.9% | 323.24% | -167.96% | 237.81% | -554.53% | -80.24% | 808.03% | 198.85% | - | - |
| FCF Margin % | 20.75% | 38.57% | 40.53% | -21.96% | 36.73% | -30% | 8.14% | 49.49% | 6.32% | -6.21% | 0% |
| FCF per Share | 2.45 | 4.53 | 4.45 | -1.9 | 2.8 | -2.15 | 0.42 | 2.12 | 0.08 | -0.08 | - |
Geopolitical and Catastrophe Exposure
According to the provided financial data, IGIC reports consistent net income ranging from $10.9M to $37.9M per quarter, yet the absence of disclosed operating cash flow figures prevents a clear assessment of the actual cash conversion efficiency of its underwriting activities during the 2023-2025 period.
The lack of reported operating cash flow data makes it difficult to verify if the company's underwriting profit is being successfully converted into liquid cash. Investors should monitor whether the reported net income is supported by actual premium inflows or if it remains heavily reliant on non-cash accounting accruals.
As reported in the quarterly financial statements, IGIC experienced significant fluctuations in claims payments, with quarterly loss outflows ranging from $46.9M to $84.9M, suggesting that the company's cash position is subject to substantial periodic pressure from its specialty and reinsurance risk exposures.
The variance in claims payments indicates that the company's cash outflows are highly sensitive to the timing of loss events rather than a steady, predictable stream. This volatility warrants further investigation into whether the company's liquidity buffers are sufficient to handle potential spikes in claims severity during periods of heightened geopolitical or catastrophe activity.
Based on the provided figures, the company consistently reports positive net income, yet the absence of cash flow data suggests a potential disconnect between accounting profitability and the actual cash generation required to sustain operations and meet future obligations in the specialty insurance market.
The reliance on net income as a primary performance metric without corresponding cash flow transparency may obscure the impact of reserve adjustments on the company's liquidity. Analysts should be cautious, as the reported earnings may not fully reflect the cash-based realities of the company's long-tail casualty and reinsurance liabilities.
Data provided in the financial tables indicates a complete lack of transparency regarding investment portfolio activity, with zero reported purchases or sales of investments, which obscures the company's true cash management strategy and its ability to generate investment income from its float.
The absence of investment-related cash flow data suggests that the company's cash management activities are not being fully disclosed, which may hide potential risks related to asset-liability matching. Investors should investigate whether the company is maintaining sufficient liquidity to cover its claims obligations without needing to liquidate assets at unfavorable prices.
Quick answers to the most common questions about buying IGIC stock.
International General Insurance Holdings Ltd. (IGIC) generated $108.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
International General Insurance Holdings Ltd. (IGIC) generated $107.2M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
International General Insurance Holdings Ltd. (IGIC) spent $0.9M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, International General Insurance Holdings Ltd. (IGIC) returned $46.2M to shareholders via cash dividends and spent $61.9M on share repurchases. This shows the company's commitment to returning capital to its equity investors.