IGI Second Quarter 2024 Investor Presentation

• "Underwriting first" individual risk underwriting strategy focused on profitable growth, diversification, and lower volatility
• Underwriting portfoliowell-diversified by line of business, product, and territory serviced by 109 underwriters(1) across 8 offices
• Performance-basedculture with well-respected and recognized leadership and proven expertise in intelligent risk selection across a diverse range of specialty lines
• Uniquely positioned to capitalize on market opportunities throughdynamic portfolio management across market cycles
• Balance sheet strength and stabilityfocused on capital preservation underpinned by a prudent reserving philosophy and conservative investment strategy
• Strongshareholder alignment through significant insider ownership (Jabsheh family ownership: 34.7%)

Key Market Data(1)

Stock Exchange	Nasdaq
Symbol	IGIC
Market Cap/Price	$619mm / $14.00
Sh. Equity/BVPS	$588mm / $13.31
Employees	445
	A	A-

$18

$16

10 Year CAGR 12/31/2015 - 6/30/2024: 6.8%

$16.87

$15.45

AIG

GLRE UFCS

PLMR

FFH AIZ

BRK/B

UVE

Casablanca

Africa underwriting hub

Malta

Kuala Lumpur

Asia underwriting hub

Consistent Execution of Underwriting Strategy

Individual risk underwriting facilitates tighter risk control

Global footprint, local knowledge, long relationships

Deep technical expertise, specialized experience

Dynamic cycle management, focused on lines with strong margins and rate momentum

Lower volatility, prudent use of reinsurance, managed catastrophe exposure

Balance Sheet Strength,

Prudent Use of

Capital

Maintain optimal level of capital for "underwriting first" strategy; retuexcess capital in dividends, share repurchases

Zero financial leverage

Prudent reserving philosophy

Conservative investment portfolio structure - high quality fixed income; duration management

Track Record of Strong Underwriting Results

Underwriting strategy results in average ~4 pt combined ratio advantage1 vs. peers

10-year2 average 86.8% combined ratio

10-year2 average 14.2% core operating ROE, including soft market years

Superior risk adjusted return, low relative volatility3

Build-out of

US/European

Business

Capitalize on

Market

Opportunities

Continued

Focus on

Diversification

and Growth

Prudent

Capital

Management

• US: $73.1mm as of June 30, 2024, of which 55% is E&S business; all short-tail, primarily property, energy, contingency, and treaty reinsurance
• Europe: $39.1mm as of June 30, 2024; predominantly long-tail lines, supplemented by some short-tail business
• Steady growth in short-tail and reinsurance lines where conditions remain strong: cumulative
  net rate increases at 6/30/2023: 1.9% short-tail; 4.1% treaty reinsurance
• Continued focus on long-tail opportunities in Europe and Nordic region, MENA region, and Asia Pacific, with dedicated expertise expanded in these regions
• Demonstrated ability to shift underwriting focus with market opportunities
• Expected growth in Nordic markets through acquisition of Norwegian energy MGA and build out of team - addition of two professional and financial lines underwriters
• On-the-groundpresence in Bermuda with gradual buildout of reinsurance treaty business
• Single "hub" underwriting approach promotes efficiency in decision-making across markets
• Continuous evaluation of opportunities to enter new lines/markets within risk appetite
• Efficient use of capital, prioritizing profitable growth in underwriting first, then returning capital to shareholders through dividends and share repurchases; repurchases 2022 - 6/30/2024 = 4,658,813 common shares; repurchased 651,453 in Q2; utilized ~62% of current 7.5 million common share repurchase authorization
• Paid $24.4 million in regular quarterly common share dividends for the first half of 2024 to June 30 (including extraordinary cash dividend of $0.50 per share paid in April 2024, and $0.6 million at increased dividend rate of $0.025 per share paid in June 2024)

Q2 2024

Six Months Ended June 30, 2024

$205.6 million

Gross Written Premium

$45.3 million

Underwriting Income

$32.8 million

Net Income

81.2%

Combined

Ratio

$387.2 million

Gross

Written

Premium

$97.3 million

Underwriting Income

$70.7 million

Net Income

77.7%

Combined Ratio

Compared to $373.5

1. for
   1H'23

Compared to $90.0

1. for
   1H'23

Compared to $74.4

1. for
   1H'23

Compared to 75.7% for 1H'23

Growth of 3.7% driven by growth in reinsurance and short-tail business

Increase of 8.1% due to higher reinsurance and short-tail premiums, offset by higher net loss and loss adjustment expenses

Decrease of 5.0% driven by higher net loss and loss adjustment expenses, partially offset by higher underwriting and net investment income

2.0 ptsdifferentialprimarily due to higher G&A expense ratio due to higher HR costs related to overall growth

23.2%

Core

Operating

ROAE

4.8pt differential primarily due to higher net loss and loss adjustment expenses

GWP $ Millions

Europe

10%

$300