2 models fit International General Insurance Holdings Ltd. Ordinary Share and they agree: 2 of 2 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Bronze41
Valued as an insurer: Residual income, P/E comparison, and Dividend discount.
ACCE opinionInternational General Insurance Holdings Ltd. Ordinary Share (IGIC)
Fair value (2 models)
$25.71
ACCE price target
$27.00
Rating
Fairly valued
Horizon
12 months
Fair value published on 20 Oct 2026, 15:04 CEST; previously $25.28 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 13 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 15:04 CEST.
Price used: $24.74 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison and Residual income.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
3.8% below
+3.9% to fair value
ACCE score
59
out of 100
Analysts
100% buy
2 covering
P/E
9.9x
forward 8.1x
1-year return
+10.7%
Dividend yield
1.20%
International General Insurance Holdings Ltd. Ordinary Share in four questions
Plain answers, details below
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Overview
ACCE thesis
International General Insurance writes specialty and reinsurance lines out of its Bermuda and Dubai platforms, with a meaningful franchise in the Middle East and Africa where local underwriting knowledge is harder to replicate than the product itself. The company runs a 16.3% return on equity against a 15.3% operating margin, which is a profitable book at a $1.0 billion market cap, and it is growing revenue at 8.0%. The stock trades at 9.8 times trailing earnings and 8.0 times forward, a discount that reflects its size, limited index coverage (it sits in no major index), and the thinner liquidity that comes with both. The useful question for a PM is whether the regional underwriting edge and the forward earnings path hold up under a closer look at loss ratios and reserve development, since those two items decide whether the low multiple is earned or simply cheap.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Earnings declining despite revenue growth
Revenue rose 8.0% year over year, but earnings fell 36.2%, so margin pressure is showing up below the top line. Score slipped from 64 to 59 over 90 days.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $107M, and the stock yields 10.3% on that cash generation.
The company carries no debt, with debt to equity at 0.00, and its share count fell 2.3% last fiscal year.
At a forward P/E of 8.1x against a sector median of 11.8x, the shares look cheap, and analysts' mean target sits 26.5% above the price.
Why it could disappoint
The latest quarter's earnings per share missed expectations by 30.2%, coming in at 0.44 against 0.63 expected.
Revenue growth slowed to 8.0% this year, well below the 10.9% average over five years.
The stock trades 8.4% below the ACCE price target of $27.00, and 3.8% below the model fair value of $25.71, so the upside is modest on our numbers.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 3, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where IGIC's valuation models land
Price
$24.74
Model fair value
$25.71
Model range
$24.19 to $27.49
Fair value $25.71
Price $24.74
The price sits inside the model range.
Model
Fair value
Upside
Dividend discount
P/E comparison
Residual income
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Quality
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Quality and conviction INVESTOR FEATURE
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