IGI names UK executive director to expand international business

Specialist commercial re/insurer International General Insurance (IGI) has appointed Waleed Jabsheh as executive director of IGI UK as part of the company’s growth plans.

Jabsheh will convert from non-executive to executive director of the board at IGI UK, and in addition to his new role in London, he will maintain his position as president of IGI Bermuda.

Jabsheh, who is moving from Amman, Jordan, has been with IGI since its foundation in 2002.

According to the company, Jabsheh will assist IGI UK CEO Andreas Loucaides in growing the company’s international business and is tasked with devising a strategy to achieve scale with a focused purpose.

Jabsheh will be responsible for overseeing all aspects of the underwriting function in the UK and enhancing its international portfolio of business, which currently accounts for 70 percent of the company’s gross premium income. He will also oversee IGI’s growth ambitions, which includes enhancing its geographic platforms and expanding business lines and underwriting teams.

"I am looking forward to working closely with our outstanding team in London and steering IGI into an exciting new phase of development," Jabsheh said. "We have established a platform for a truly global company, with offices in Dubai, London, Amman, Bermuda, Casablanca and Kuala Lumpur. We are moving forward with a clear strategic plan in place as we continue laying down the tracks for future success, which is consistent with our philosophy of prudent underwriting and continued profitability."

IGI currently writes approximately $240 million in gross written premium, and is planning to increase this to $350 million - $400 million by 2020, the company said.

The company is also looking to profitably expand its profile from its Middle Eastern roots into an international operation, writing business worldwide.

Loucaides said: "London is an important trading centre for IGI, with the majority of our senior underwriters based in the city writing international business. Waleed’s move is a significant step for the development of the business, where I look forward to working closely with him as we lead the business through its next phase of growth."

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