International General Insurance Holdings Ltd. (IGI) has appointed London market veteran Malcolm Barnes as head of specialty treaty, a newly created role aimed at expanding the company's reinsurance operations.
Based at IGI’s London office at 20 Fenchurch Street, Barnes will oversee the development and management of the firm’s specialty treaty reinsurance business, adding a stronger London market presence to IGI’s global reinsurance capabilities.
With more than 35 years of experience in the London market, Barnes joins from Amlin Syndicate 2001, where he led the marine treaty reinsurance team. He has also held senior underwriting positions across several Lloyd’s syndicates specialising in specialty reinsurance.
Chris Jarvis, IGI's chief underwriting officer, said Barnes' appointment strengthens the company's strategic goal of growing its treaty reinsurance portfolio. He noted that Barnes’ deep market expertise and connections will support IGI’s expansion into key specialty treaty segments, particularly in marine, energy, and terrorism or political violence risks.
The appointment comes as IGI continues to demonstrate financial resilience. In its latest results, the company reported net income of $34.1 million for the quarter ended 30 June 2025, up 3.9% from $32.8 million a year earlier.
For the first six months of 2025, net income reached $61.4 million, compared with $70.7 million in the same period of 2024.
IGI’s annualised return on average equity was 20.8% for the quarter, down from 22.9% in 2024, while its first-half return stood at 18.6%, compared to 25% a year earlier. Core operating income for the second quarter was $22.8 million, versus $33.2 million in 2024, reflecting an annualised core operating return on average equity of 13.9%.
The move to bolster its reinsurance leadership underscores IGI’s focus on diversification and long-term growth across specialty lines, even as market conditions remain competitive.
