Bermudian-based International General Insurance Holdings Ltd has repurchased 2,271,775 common shares in a privately-negotiated transaction.

The shares were repurchased at a price of $8.60 per share, for a total cost of approximately $19.5 million.

The company has approximately 2.4 million common shares remaining under its current common share repurchase authorisation of up to 5 million shares, approved by the board of directors in May 2022.

At September 30, 2022, IGI had 49,158,000 common shares issued and outstanding.

IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines.

The company is registered and operates in Bermuda, with operations also in London, Malta, Dubai, Amman, Kuala Lumpur and Casablanca.