International General Insurance (IGIC) 20-F 8 Apr 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Information [Line Items]
Entity Registrant Name	International General Insurance Holdings Ltd.
Entity Central Index Key	0001794338
Entity File Number	001-39255
Entity Incorporation, State or Country Code	D0
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	74 Abdel Hamid Sharaf Street
Entity Address, City or Town	Amman 11194
Entity Address, Country	JO
Entity Address, Postal Zip Code	P.O. Box 941428
Entity Listings [Line Items]
Title of 12(b) Security	Common shares, $0.01 par value per share
Trading Symbol	IGIC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	46,074,179
Business Contact [Member]
Entity Contact Personnel [Line Items]
Contact Personnel Name	Rawan Alsulaiman
Contact Personnel Email Address	Rawan.Alsulaiman@iginsure.com
Entity Address, Address Line One	74 Abdel Hamid Sharaf Street
Entity Address, City or Town	Amman 11194
Entity Address, Country	JO
Entity Address, Postal Zip Code	P.O. Box 941428
Entity Phone Fax Numbers [Line Items]
City Area Code	+962
Local Phone Number	6 562 2009

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Table]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	1438
Auditor Location	London, United Kingdom

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments
Fixed maturity securities available-for-sale, at fair value (amortized cost: USD 789,619 – 2023, USD 538,311 – 2022, net of allowance for expected credit losses: USD 353 – December 31, 2023, USD 195 – December 31, 2022)	$ 765,590	$ 489,081
Equity securities, at fair value (cost: USD 24,056 – 2023, USD 31,906 – 2022)	26,208	31,410
Other investments, at fair value (cost: USD 11,302 – 2023, USD 12,996 – 2022)	11,060	12,237
Short-term investments	42,157	265,691
Term deposits	105,137	31,335
Equity-method investments measured at fair value	3,522	4,907
Fixed maturity securities held to maturity	1,994	1,994
Total investments	955,668	836,655
Cash and cash equivalents	177,022	122,143
Accrued investment income	11,471	6,301
Premiums receivable, net of allowance for expected credit losses (USD 11,302 – 2023, USD 9,085 – 2022)	245,217	210,402
Reinsurance recoverable, net of allowance for expected credit losses (USD 4,034 – 2023, USD 3,954 – 2022)	223,083	194,412
Ceded unearned premiums	98,013	94,409
Deferred policy acquisition costs, net of ceding commission	65,272	57,941
Deferred tax assets, net	4,157	5,788
Other assets	57,997	51,974
TOTAL ASSETS	1,837,900	1,580,025
LIABILITIES
Reserve for unpaid loss and loss adjustment expenses	712,098	636,245
Unearned premiums	443,525	389,860
Insurance and reinsurance payables	89,704	90,354
Other liabilities	34,853	28,821
Derivative financial liabilities	17,290	23,805
TOTAL LIABILITIES	1,297,470	1,169,085
SHAREHOLDERS’ EQUITY
Common shares (authorized: 750,000,000 shares at USD 0.01 par value per share; issued and outstanding: 44,500,879 shares – 2023, 46,013,309 shares – 2022)	445	460
Additional paid-in capital	137,623	147,934
Treasury shares (3,800 shares – 2023, 1,668 shares – 2022)	(49)	(14)
Accumulated other comprehensive loss, net of taxes	(20,638)	(44,044)
Retained earnings	423,049	306,604
TOTAL SHAREHOLDERS’ EQUITY	540,430	410,940
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,837,900	$ 1,580,025

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost	$ 789,619	$ 538,311
Net of allowance for expected credit losses	353	195
Equity securities fair value cost	24,056	31,906
Other investments fair value cost	11,302	12,996
Net of allowance for credit losses	11,302	9,085
Reinsurance recoverables net of allowance for credit losses	$ 4,034	$ 3,954
Common shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in Shares)	750,000,000	750,000,000
Common shares, shares issued (in Shares)	44,500,879	46,013,309
Common shares, shares outstanding (in Shares)	44,500,879	46,013,309
Treasury shares (in Shares)	3,800	1,668

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES:
Gross written premiums	$ 688,678	$ 581,983	$ 537,236
Ceded written premiums	(191,465)	(189,158)	(157,923)
Net written premiums	497,213	392,825	379,313
Net change in unearned premiums	(50,061)	(16,434)	(42,682)
Net premiums earned	447,152	376,391	336,631
Investment income	40,460	20,947	14,487
Net realized gain (loss) on investments	6,723	(687)	308
Net unrealized gain (loss) on investments	2,684	(5,512)	(3,709)
Change in allowance for expected credit losses on investments	368	(361)	(66)
Change in fair value of derivative financial liabilities	(27,289)	4,603	670
Other revenues	1,862	2,442	2,056
Total revenues	471,960	397,823	350,377
EXPENSES:
Net loss and loss adjustment expenses	(189,087)	(157,562)	(173,039)
Net policy acquisition expenses	(74,976)	(70,199)	(59,622)
General and administrative expenses	(78,927)	(67,243)	(58,228)
Change in allowance for expected credit losses on receivables	(2,452)	(3,238)	(3,262)
Other expenses	(5,594)	(3,961)	(4,230)
Net foreign exchange gain (loss)	5,124	(3,454)	(3,368)
Total expenses	(345,912)	(305,657)	(301,749)
Income before income taxes	126,048	92,166	48,628
Income tax expense	(7,854)	(2,932)	(1,814)
Net income	$ 118,194	$ 89,234	$ 46,814
Earnings per share
Basic earnings per share attributable to equity holders (in Dollars per share)	$ 2.58	$ 1.85	$ 0.98
Diluted earnings per share attributable to equity holders (in Dollars per share)	$ 2.55	$ 1.84	$ 0.98

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 118,194	$ 89,234	$ 46,814
Other comprehensive income (loss), net of taxes:
Change in unrealized gains or losses in investments	23,379	(49,073)	(9,979)
Foreign currency translation adjustment	27	(57)	(16)
Other comprehensive income (loss)	23,406	(49,130)	(9,995)
Total comprehensive income	$ 141,600	$ 40,104	$ 36,819

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Common shares at par value	Additional paid-in capital	Treasury shares	Accumulated other comprehensive income (loss)	Retained earnings	Total
Balance at Dec. 31, 2020	$ 456	$ 146,825		$ 15,081	$ 195,836	$ 358,198
Net Income					46,814	46,814
Other comprehensive income (loss)				(9,995)		(9,995)
Total comprehensive income				(9,995)	46,814	36,819
Issuance of common shares under share-based compensation plan	3	1,190				1,193
Dividends paid					(15,128)	(15,128)
Balance at Dec. 31, 2021	459	148,015		5,086	227,522	381,082
Net Income					89,234	89,234
Other comprehensive income (loss)				(49,130)		(49,130)
Total comprehensive income				(49,130)	89,234	40,104
Issuance of common shares under share-based compensation plan	4	2,296				2,300
Purchase of treasury shares			(2,394)			(2,394)
Cancellation of treasury shares	(3)	(2,377)	2,380
Vesting of Earnout Shares
Dividends paid					(10,152)	(10,152)
Balance at Dec. 31, 2022	460	147,934	(14)	(44,044)	306,604	410,940
Net Income					118,194	118,194
Other comprehensive income (loss)				23,406		23,406
Total comprehensive income				23,406	118,194	141,600
Issuance of common shares under share-based compensation plan	5	3,244				3,249
Purchase of treasury shares			(31,090)			(31,090)
Cancellation of treasury shares	(34)	(31,021)	31,055
Vesting of Earnout Shares	14	17,466				17,480
Dividends paid					(1,749)	(1,749)
Balance at Dec. 31, 2023	$ 445	$ 137,623	$ (49)	$ (20,638)	$ 423,049	$ 540,430

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends paid per share	$ 0.04	$ 0.22	$ 0.33

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 118,194	$ 89,234	$ 46,814
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	2,546	3,082	2,771
Deferred tax expense (benefit)	1,441	(307)	(462)
(Gain) loss on disposal of property and equipment	(89)	112	10
Net realized (gain) loss on investments	(6,723)	687	(308)
Net unrealized (gain) loss on investments	(2,684)	5,512	3,709
Change in allowance for expected credit losses on investments	(368)	361	66
Change in fair value of derivative financial liability	27,289	(4,603)	(670)
Share-based compensation expense	3,249	2,300	1,193
Leases expenses	771	963	1,047
Amortization of net premium on investments	2,083	2,191	1,703
Tax adjustment due to US GAAP conversion	(1,949)	665	138
Change in:
Premiums receivable	(34,815)	(8,625)	(18,818)
Reinsurance recoverables	(28,671)	(3,857)	17,140
Ceded unearned premiums	(3,604)	(9,046)	(8,254)
Deferred policy acquisition costs, net of ceding commission	(7,331)	(1,174)	(9,514)
Accrued investment income	(4,909)	(831)	(492)
Other assets	(1,809)	(2,144)	499
Reserve for unpaid loss and loss adjustment expenses	75,853	58,598	79,065
Unearned premiums	53,665	25,480	50,650
Insurance and reinsurance payables	(650)	(2,516)	2,167
Operating lease liabilities payments	(913)	(1,035)	(781)
Other liabilities	6,032	(170)	7,619
Net cash provided by operating activities	196,608	154,877	175,292
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equity securities and other investments	(17,368)	(1,607)	(5,212)
Purchase of fixed maturity securities available-for-sale	(313,002)	(189,832)	(160,299)
Proceeds from maturity of fixed maturity securities held to maturity	526	312	169
Proceeds from sale/maturity of available for sale debt securities	59,031	60,972	116,697
Proceeds from sale of equity securities and other investments	34,976	1,413	6,349
Purchases of property and equipment and Intangible assets	(3,248)	(1,275)	(2,381)
Proceeds from sale of property and equipment	89	543	1,120
Change in term deposits	(73,802)	12,353	(4,986)
Change in short-term investments	223,534	(129,413)	(2,768)
Acquisition of a subsidiary	(1,101)		(146)
Net cash used in investing activities	(90,365)	(246,534)	(51,457)
FINANCING ACTIVITIES
Dividends paid	(1,749)	(10,152)	(15,128)
Repurchase of common shares under share repurchase program	(31,090)	(2,394)
Warrants redemption	(16,324)
Net cash flows used in financing activities	(49,163)	(12,546)	(15,128)
NET CHANGE IN CASH, AND CASH EQUIVALENTS AND RESTRICTED CASH	57,080	(104,203)	108,707
Cash, cash equivalents and restricted cash at the beginning of the year	137,943	242,146	133,439
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT THE END OF THE YEAR	195,023	137,943	242,146
Supplemental Cash Flow Information:
Income tax paid	$ (6,635)	$ (2,760)	$ (2,328)

Schedule I _ Investments

Schedule I — Investments $ in Thousands	Dec. 31, 2023 USD ($)
Bonds:
Fixed Maturities Value	$ 765,590
Common stocks:
Equity Securities Value	26,208
Equity Securities Cost	24,056
Investments Value	955,668
Investments Cost	938,225
Bonds [Member]
Bonds:
Fixed Maturities Value	767,584
Fixed Maturities Cost	789,619
Foreign governments | Bonds [Member]
Bonds:
Fixed Maturities Value	9,376
Fixed Maturities Cost	10,087
Public utilities | Bonds [Member]
Bonds:
Fixed Maturities Value	32,175
Fixed Maturities Cost	32,278
All other corporate bonds | Bonds [Member]
Bonds:
Fixed Maturities Value	706,549
Fixed Maturities Cost	722,068
Redeemable preferred stock | Bonds [Member]
Bonds:
Fixed Maturities Value	19,484
Fixed Maturities Cost	25,186
Public utilities
Common stocks:
Equity Securities Value	20
Equity Securities Cost	20
Banks, trust and insurance companies
Common stocks:
Equity Securities Value	10,859
Equity Securities Cost	9,509
Industrial, miscellaneous and all other
Common stocks:
Equity Securities Value	14,811
Equity Securities Cost	13,553
Nonredeemable preferred stocks
Common stocks:
Equity Securities Value	518
Equity Securities Cost	975
Short-term investments
Common stocks:
Investments Value	42,157
Investments Cost	42,157
Other long-term investments
Common stocks:
Investments Value	116,197
Investments Cost	116,340
Equity-method investments measured at fair value
Common stocks:
Investments Value	3,522
Investments Cost	$ 8,210

Schedule III _ Supplementary In

Schedule III — Supplementary Insurance Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net loss and loss adjustment expenses	$ (189,087)	$ (157,562)	$ (173,039)
Investment income	40,460	20,947	14,487
General and administrative expenses	(78,927)	(67,243)	(58,228)
Net policy acquisition expenses	(74,976)	(70,199)	(59,622)
Reserve for unpaid loss and loss adjustment expenses	712,098	636,245
Deferred policy acquisition costs, net	65,272	57,941
Gross written premiums	688,678	581,983	537,236
Unearned premiums	443,525	389,860
Net written premiums	497,213	392,825	379,313
Long-tail [Member]
Net loss and loss adjustment expenses	(69,250)	(50,530)	(84,662)
Investment income
General and administrative expenses
Net policy acquisition expenses	31,160	(33,066)	(29,881)
Reserve for unpaid loss and loss adjustment expenses	356,995	321,600
Deferred policy acquisition costs, net	33,386	33,950
Gross written premiums	226,862	233,046	224,717
Unearned premiums	180,410	179,421
Net written premiums	152,962	167,491	168,034
Short-tail [Member]
Net loss and loss adjustment expenses	(93,085)	(89,942)	(72,418)
Investment income
General and administrative expenses
Net policy acquisition expenses	(35,997)	(31,525)	(26,310)
Reserve for unpaid loss and loss adjustment expenses	305,731	274,804
Deferred policy acquisition costs, net	28,984	22,625
Gross written premiums	400,682	317,412	288,425
Unearned premiums	245,500	200,720
Net written premiums	283,117	193,809	187,185
Reinsurance [Member]
Net loss and loss adjustment expenses	(26,752)	(17,090)	(15,959)
Investment income
General and administrative expenses
Net policy acquisition expenses	(7,819)	(5,608)	(3,431)
Reserve for unpaid loss and loss adjustment expenses	49,372	39,841
Deferred policy acquisition costs, net	2,902	1,366
Gross written premiums	61,134	31,525	24,094
Unearned premiums	17,615	9,719
Net written premiums	61,134	31,525	24,094
Corporate and Other [Member]
Net loss and loss adjustment expenses
Investment income	40,460	20,947	14,487
General and administrative expenses	(78,927)	(67,243)	(58,228)
Net policy acquisition expenses
Reserve for unpaid loss and loss adjustment expenses
Deferred policy acquisition costs, net
Gross written premiums
Unearned premiums
Net written premiums

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization [Abstract]
ORGANIZATION	1. ORGANIZATION International General Insurance Holdings Ltd. (“the Company”) is an exempted limited liability company registered and incorporated in Bermuda under the Companies Act of 1981 on October 28, 2019. The Company’s registered office is at Clarendon House, 2 Church Street, Hamilton, HM11, Bermuda. The principal activities of the Company are to primarily provide insurance and reinsurance on a worldwide basis through its principal wholly owned subsidiaries and branches, including International General Insurance Co. Ltd, International General Insurance Company (UK) Ltd, International General Insurance Company (Europe) SE, International General Insurance Company (Dubai) Ltd, IGI Nordic AS and International General Insurance Co. Ltd – Labuan Branch. The Company and its subsidiaries operate in Bermuda, United Kingdom, Jordan, Morocco, Malaysia, Malta, Norway, United Arab Emirates and the Cayman Islands. International General Insurance Holdings Ltd. and its subsidiaries and branches are collectively referred to hereinafter as the Company or the Group. On March 17, 2020, the definitive business agreement (the “Business Combination”) between International General Insurance Holdings Limited - Dubai (“IGI”) and Tiberius Acquisition Corp. (NASDAQ: TIBR) (“Tiberius”), a publicly traded special purpose acquisition company, and certain related parties, was effective. As a result of the completion of the Business Combination, the Company became a new public company listed on the Nasdaq Capital Market under the symbol “IGIC” and owned by the former stockholders of Tiberius and the former shareholders of IGI and each of IGI and Tiberius became the Company’s subsidiaries. The transaction was accounted for as a reverse recapitalization in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, while the Company is the legal acquirer of both IGI and Tiberius, IGI has been identified as the accounting acquirer of Tiberius for accounting purposes. On March 25, 2023, the Group completed the acquisition of Energy Insurance Oslo AS, a Norwegian managing general agency that the Group has had an exclusive underwriting arrangement with since 2009. The Company was renamed IGI Nordic AS and will broaden the Group’s presence in the Nordic markets across various business lines. The purchase consideration as well as the amounts recognized for assets acquired and liabilities are not material to the Group.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation Effective January 1, 2023, the Company transitioned from International Financial Reporting Standards (“IFRS”) accepted by the International Accounting Standards Board to U.S. GAAP. The accompanying consolidated financial statements and notes thereto, including all prior periods presented, have been presented under U.S. GAAP. Any references in these notes to applicable accounting guidance are meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements comprise the financial statements of International General Insurance Holdings Ltd. and its subsidiaries and have been presented in United States Dollars (“USD”) which is also the Group’s functional currency. All intercompany transactions, balances and unrealized gains and losses on transactions between Group companies are eliminated in full. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP required management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. The Company’s principal estimates include: ● Reserve for unpaid loss and loss adjustment expenses; ● Premiums representing amounts due on business written but not yet reported; ● Allowance for expected credit losses on premiums receivable, reinsurance recoverables and certain investments including available-for-sale fixed maturity securities; ● Fair value measurements of certain financial assets and financial liabilities. (a) Investments Investments in fixed maturity investments include corporate The Group currently classifies substantially all of its fixed maturity investments as “available-for-sale” and, accordingly, they are carried at fair value with the changes in fair value recorded as an unrealized gain or loss component of accumulated other comprehensive income in shareholders’ equity. The fair value of fixed maturity securities is generally determined from quotations received from nationally recognized pricing services, or when such prices are not available, by valuation performed by independent third-party valuation service providers. Upon derecognition, the cumulative fair value change recognized in other comprehensive income is reclassified to the consolidated statement of income. Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the trade date. Investments in fixed maturity investments held to maturity are carried at amortized cost when the Group has the ability and positive intent to hold these securities until maturity. When the Group do not have the ability or positive intent to hold bonds until maturity, these securities are classified as available-for-sale. Interest income is recognized using the effective interest method and reflects amortization of premium and accretion of discount. Premiums and discounts arising from the purchase of bonds classified as available-for-sale are treated as adjustments to effective interest rate over their estimated holding periods, until maturity, or call date, if applicable. The Group periodically reviews its investments to identify and evaluate credit based impairments related to the Company’s available-for-sale investments. The estimated credit losses are calculated by comparing expected future cash flows to be collected to the amortized cost of the security. Estimates of expected future cash flows consider among other things, macroeconomic conditions as well as the financial condition, near-term and long-term prospects for the issuer, and the likelihood of the recoverability of principal and interest. The Group recognises expected credit losses on available-for-sale securities through an allowance account. For available-for-sale securities that the Group does not intend to sell or for which it is more likely than not it will not be required to sell prior to the anticipated recovery in value, the credit component of the impairment is separated from the component related to all other market factors and reported in Change in allowance for expected credit losses on investments in the consolidated statements of income. The impairment related to all other market factors is reported as a fair value movement in a separate component of shareholder’s equity in other comprehensive income (loss). The expected credit loss allowance account is adjusted for any additional credit losses or subsequent recoveries and the cost basis of the fixed maturity security is not adjusted. For impaired available-for-sale securities that the Group intends to sell or for which it is more likely than not that it will be required to sell before an anticipated recovery in value, the full amount of the impairment is recognised in Change in allowance for expected credit losses on investments in the consolidated statement of income and the cost basis of the fixed maturity security is adjusted to reflect the recognised realized loss. The new cost basis is not adjusted for any recoveries in fair value. The Group reports accrued investment income separately from fixed maturity securities and has elected to not measure an allowance for expected credit losses for accrued investment income. The write-off of investment income accrued for fixed maturities that are in arrears for more than 30 days on interest payments is recognized as a loss in net realized investment gains (losses), in the period of the default, in the consolidated statement of income. Investments in equity securities may be accounted for using (i) the fair value option if elected, (ii) fair value through earnings if fair value is readily determinable or (iii) for equity investments without readily determinable fair values, the measurement alternative to measure at cost adjusted for any impairment and observable price changes, as applicable. The election to use the measurement alternative is made for each eligible investment. The Group’s investment portfolio includes equity securities and other investments that are accounted for at fair value. Such holdings primarily include publicly traded common stocks and funds. Dividend income on equities and other investments is reflected in investment income. Changes in fair value on equity securities and other investments are included in “Net unrealized gain (loss) on investments” in the consolidated statements of income. Under the fair value option, we may elect to measure at fair value equity method investments that are not otherwise required to be carried at fair value. Subsequent changes in fair value for designated items are reported in earnings. The Company has elected the fair value option to account for certain equity method investments in which the Company has significant influence. The Company believes the fair value option best reflects the underlying economics of the investment. (b) Cash and cash equivalents Cash and cash equivalents include cash on hand, bank balances, short-term deposits, and highly liquid investments with original maturities of three months or less that are readily convertible into known amounts of cash and are subject to insignificant risk of changes in fair value. (c) Term deposits The term deposits are interest bearing bank deposits held with foreign banks and have original maturities over 12 months and are carried at amortized cost, which approximates fair value. (d) Short-term Investments Short-term investments include term deposits that have original maturities greater than three months but less than one year at the date of purchase. These are carried at amortised cost, which approximates fair value. (e) Restricted Cash Restricted cash represents amounts held for the benefit of third parties or is legally or contractually restricted as to withdrawal or usage by the Company. Such amounts are included in “Other assets” on the Company’s consolidated balance sheets. (f) Receivables Insurance receivables are recognized when due and are measured on initial recognition at the face value of the consideration to be received net of any allowance for expected credit losses. The Group monitors credit risk associated with premiums receivable through its ongoing review of amounts outstanding, aging of the receivable, historical loss data, and counterparty financial strength measures. Any allowance for expected credit losses is charged to “Change in allowance for expected credit losses on receivables” in the period. The receivable is recorded and revised in subsequent periods to reflect changes in the Company’s estimate of expected credit losses. Reinsurance recoverables represent amounts of paid loss and loss adjustment expenses, case reserves and incurred but not reported (“IBNR”) amounts ceded to reinsurers under reinsurance contracts. Amounts recoverable from reinsurers are estimated in a manner consistent with the associated claim liability. The Company reports its reinsurance recoverables net of an allowance for estimated uncollectible reinsurance, including expected credit losses. The allowance is based upon our ongoing review of amounts outstanding, length of collection periods, changes in reinsurer credit standing, disputes, applicable coverage defenses and other relevant factors. The Company uses a rating-based method to estimate the uncollectible reinsurance reserves due to credit losses. Under this method, reinsurance credit risk is estimated by considering the reinsurers probability of default. Additionally, reinsurance recoverables balances are evaluated to identify any dispute risk and when required, an additional reserve is recorded. Amounts deemed to be uncollectible, including amounts due from known insolvent reinsurers, are written off against the allowance. Changes in the allowance, as well as any subsequent collections of amounts previously written off, are reported as part of “Change in allowance for expected credit losses on receivables”. (g) Derivative financial instruments Derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Warrants are accounted for as derivative financial instruments (a financial liability) as they give the holder the right to obtain a variable number of common (ordinary) shares, dependent on the characteristics of the warrant holder and the occurrence of some uncertain future events that are not within the control of the Group. The Warrants were to lapse and expire after five years from the closing of the Business Combination between IGI and Tiberius; however, all the outstanding Warrants were redeemed during 2023 following the offer announced by the Company on July 28, 2023. Earnout Shares issued to former shareholders of IGI and Tiberius are accounted for as Derivative financial instruments (a financial liability) because the earnout triggering events that determine the number of Earnout Shares to be earned include multiple settlements alternatives and events that are not solely indexed to the common stock of the Company. Any gains or losses arising from changes in the fair value of derivatives are taken directly to the consolidated statement of income as the Group has not designated derivative financial instruments under hedging arrangements. (h) Other assets Other assets consist of prepaid expenses, refundable deposits, restricted cash, funds held in trust accounts, property and equipment, intangible assets and operating lease assets. Property and equipment are capitalized and carried at cost less accumulated depreciation and are reported in “other assets” in the consolidated balance sheets. Depreciation is calculated using a straight-line method over the estimated useful lives of the assets, generally three to fifty years. Land is not depreciated. The accumulated depreciation for property and equipment was USD 20,499 thousand and USD 20,527 thousand at December 31, 2023 and December 31, 2022, respectively. The net book value of our property and equipment at December 31, 2023 and December 31, 2022 was USD 24,022 thousand and USD 24,547 thousand, respectively. Intangible assets include computer software and software licenses. Costs incurred to develop software programs to be used solely to meet the Company’s internal needs have been capitalized as computer software within other intangible assets. These intangible assets are amortized on a straight-line basis over their estimated economic useful lives of 5 years. The straight-line method of amortization reflects an appropriate allocation of the costs of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. For intangible assets considered to have an indefinite life, the Company performs a qualitative assessment annually to determine whether it is more likely or not that the intangible asset is impaired. Goodwill is assessed annually for impairment or more frequently if circumstances indicate an impairment may have occurred. In the ordinary course of business, the Group renews and enters into new leases for office real estate and other assets. At the lease inception date, the Group determines whether a contract contains a lease and recognizes operating lease Right-of-use (ROU) assets and operating lease liabilities based on the present value of future minimum lease payments over the lease term. As the Group’s leases do not disclose the implicit interest rate, the Group uses incremental borrowing rates to calculate the present value of future lease payments. Operating lease costs are recognized on a straight-line basis over the lease term. Renewal options are evaluated prior to the expiration date and recorded upon exercise. ROU assets are reported at cost less accumulated depreciation and depreciated over the lease term. (i) Premiums Premiums are recorded as written on the inception date of the policy and are earned primarily on a pro rata basis over the term of the coverage provided. Unearned premiums include the portion of premiums written relating to the unexpired terms of the coverage. Premiums include any adjustments arising in the accounting period for premiums receivable in respect of business written in prior accounting periods. Rebates that form part of the premium rate, such as no-claim rebates, are deducted from the gross premium; others are recognized as an expense. The Group also assumes reinsurance risk in the normal course of business and reinsurance premiums are typically earned over the same period as the underlying policies or risks covered by the contract. Reinsurance premiums for assumed business are estimated based on information received from reinsurers and ceding companies. Any subsequent differences that arise on these estimates are recorded in periods in which they are determined. Premiums also include estimates for pipeline premiums, representing amounts due on business written but not yet notified. The Group generally estimates the pipeline premium based on management’s judgment and prior experience of market conditions and historical data using premium development patterns evident from active underwriting years to predict ultimate premiums trends at the close of the fiscal period. (j) Reserve for unpaid loss and loss adjustment expenses A reserve is held for losses, comprising amounts payable to contract holders and third parties and related loss adjustment expenses, net of salvage and other recoveries, and this is charged to income as incurred. The reserve for unpaid loss and loss adjustment expenses comprises the estimated amounts payable, in respect of losses reported to the Group and those not reported at the consolidated balance sheets date. The Group generally estimates its losses based on inputs from appointed loss adjusters or leading underwriters’ recommendations. In addition, a provision based on management’s judgement and the Group’s prior experience is maintained for the cost of settling losses incurred but not reported at the consolidated balance sheets date. The Group does not discount its reserves for unpaid loss and loss adjustment expenses, as the Group measures its insurance contract liabilities on an undiscounted basis. (k) Deferred policy acquisition costs Acquisition costs that are directly related and incremental to the successful acquisition or renewal of business are deferred and expensed over the same period over which the corresponding premiums are recognised, in accordance with the earning pattern of the underlying contract. The Company’s insurance and reinsurance operations capitalize incremental direct external costs that result from acquiring a contract but do not capitalize salaries, benefits and other internal underwriting costs. Policy acquisition costs are net of ceding commissions received on business ceded under certain reinsurance contracts. (l) Premium deficiency test A premium deficiency occurs if the sum of expected loss and loss adjustment expenses, unamortized acquisition costs exceed related unearned premiums and anticipated investment income on in-force business. A premium deficiency is recognized by charging unamortized acquisition costs to expense to the extent required in order to eliminate the deficiency. A liability is accrued for the excess deficiency if the premium deficiency exceeds the unamortized acquisition costs. (m) Reinsurance The Group cedes insurance risk in the normal course of business for all of its businesses to increase capacity and to limit its exposure to large losses and event. The Group uses pro rata and facultative reinsurance contracts. Reinsurance premiums ceded under prospective reinsurance contracts comprise the total premiums payable for the reinsurance cover provided by retrocession contracts entered into during the year and are recognized on the date on which the policy incepts. Reinsurance ceded premiums are accounted for on a basis consistent with that used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance ceding commissions are recognized as a reduction to acquisition costs. The Group has non–proportional excess–of–loss (“XOL”) reinsurance contracts designed to mitigate the Group’s net exposure of losses that exceed a specified limit including catastrophe losses. The XOL costs are determined at the inception of the reinsurance contract and are payable upfront in the form of ‘Minimum and Deposit Premium’ (“MDP”) subject to premium adjustment at the end of the contract period. Deferred premiums are calculated on a pro rata basis based on the type of the XOL reinsurance contract and included in ceded unearned premiums. Excess of loss reinsurance also includes reinstatement premium and related cash flows within the boundary of the initial reinsurance contract arising from usage of primary reinsurance coverage limit. Reinstatement occurs at predetermined rates without giving the reinsurer any right to exit or reprice the contract. This implies expected cash flows related to the reinstatement premium shall be within the boundary of the initial reinsurance contract and are not related to future contracts. Reinstatement premiums are recognized and expensed at the time a loss event occurs. The accrual of reinstatement premiums is based on an estimate of losses and loss adjustment expenses, which reflects management’s judgment. Reinsurance recoverables represent balances due from reinsurance companies. Ceded reinsurance arrangements do not relieve the Group from its obligations to policyholders. Reinsurance recoverables are the amounts recoverable from reinsurers for paid and unpaid loss and loss adjustment expenses, including amounts receivable for unsettled losses and those incurred but not reported. Reinsurance recoverables are estimated in a manner consistent with the outstanding loss provision or settled losses associated with the reinsurer’s policies and are in accordance with the related reinsurance contract. Reinsurance assets or liabilities are derecognized when the contractual rights are extinguished or expire or when the contract is transferred to another party. (n) Equity settled share-based compensation plan The Group operates an equity-settled share-based plan to its employees, under which the Group receives services from employees as consideration for equity instruments of the Group. The fair value of the employee services received in exchange for the grant of the equity instruments is recognized as an expense. The total amount to be expensed is determined by reference to the fair value of the equity instruments granted, at the grant date. The grant date fair value of restricted shares is determined based on the closing quoted prices of the Company’s share on Nasdaq on the grant dates. For awards with graded vesting schedules only subject to service conditions, such as the Restricted Shares Awards (“RSAs”), compensation expense is recognized on a straight-line basis over the requisite service period for the entire award. Forfeitures of share-based compensation awards are recognized as they occur. (o) Treasury shares Treasury shares are common shares purchased by the Company and not subsequently cancelled. These shares are recorded at cost and result in a reduction of the Company’s shareholders’ equity in its consolidated balance sheets. (p) Offsetting Financial assets and financial liabilities are offset, and the net amount reported in the consolidated balance sheets only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liability simultaneously. Income and expense are not offset in the consolidated statement of income unless required or permitted by any accounting standard or interpretation. (q) Foreign currencies Assets and liabilities of foreign operations whose functional currency is not the U.S. Dollar are translated at the prevailing exchange rates at each balance sheet date. Revenues and expenses of such foreign operations are translated at average exchange rates during the year. The net effect of the translation adjustments for foreign operations is included in accumulated other comprehensive income, net of applicable deferred income tax. Monetary assets and liabilities, such as premiums receivable and the reserve for unpaid loss and loss adjustment expenses, denominated in foreign currencies are revalued at the exchange rate in effect at the balance sheet date with the resulting foreign exchange gains and losses included in net income. Accounts that are classified as non-monetary, such as deferred acquisition costs and the unearned premium reserves, are not revalued. In the case of foreign currency denominated fixed maturity securities which are classified as “available-for-sale,” the change in exchange rates between the local currency in which the investments are denominated and the Company’s functional currency at each balance sheet date is included in unrealized appreciation or decline in value of securities, a component of accumulated other comprehensive income, net of applicable deferred income tax. Translation gains and losses related to our foreign operations are recorded as a component of shareholders’ equity in the consolidated balance sheets. At December 31, 2023, 2022 and 2021, the total cumulative foreign currency translation adjustments were a loss of USD 396 thousand, USD 423 thousand and USD 366 thousand, respectively. (r) Taxation Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is more likely than not that taxable income will be available against which the deductible temporary differences, and the carry forward of unused tax credit and unused tax losses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is recognized against the deferred tax assets to the extent that it is more likely than not that the deferred tax assets will not be recoverable. Tax benefits relating to uncertain tax positions are only recognized when the uncertain tax position meets a more likely than not recognition threshold to be recognized. (s) Fair values Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: In the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible to the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between Levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. At each reporting date, the management analyses the movements in the values of assets and liabilities which are required to be re-measured or re-assessed as per the Group’s accounting policies. For this analysis, the management verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above. (t) Segment reporting Reporting segments and segment measures are discussed and disclosed in note 17 Segment information. Recent accounting pronouncements Recently Issued Accounting Standards Adopted There are no new recently issued accounting standards adopted by the Group that have a material impact on the Group’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted Accounting Standards Update (“ASU”) 2023-09, Income Taxes – Improvements to Income Tax Disclosures (Topic 740) In December 2023, the FASB issued an ASU to address improvements to income tax disclosures which requires disaggregated information about a company’s effective tax rate reconciliation as well as information on income taxes paid. The standard is effective for public companies for annual periods beginning after December 15, 2024, with early adoption permitted. The standard will be applied on a prospective basis with the option to apply it retrospectively. The Company is assessing the impact of this standard. Accounting Standards Update (“ASU”) 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures (Topic 280) In November 2023, the FASB issued an ASU to address improvements to reportable segment disclosures. The standard primarily requires the following disclosure on an annual and interim basis: (1) significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; and (2) other segment items and description of its composition. The standard also requires current annual disclosures about a reportable segment’s profits or losses and assets to be disclosed in interim periods and the title and position of the CODM with an explanation of how the CODM uses the reported measures of segment profits or losses in assessing segment performance. The guidance is effective for public companies for fiscal years beginning after December 15, 2023 and interim periods in fiscal years within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment is applied retrospectively to all prior periods presented. The Company is assessing the impact of this standard.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
INVESTMENTS	3. INVESTMENTS Fixed maturity securities available-for-sale, at fair value The following tables summarize the Company’s fixed maturity available-for-sale securities at December 31, 2023 and 2022: December 31, 2023 Amortised cost basis Gross unrealized gains Gross unrealized losses Allowance for expected credit losses Fair value USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 13,067 70 (738 ) - 12,399 Corporate bonds 776,552 7,950 (30,958 ) (353 ) 753,191 Total 789,619 8,020 (31,696 ) (353 ) 765,590 December 31, 2022 Amortised cost basis Gross unrealized gains Gross Unrealized losses Allowance for expected credit losses Fair value USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 8,625 4 (607 ) - 8,022 Corporate bonds 529,686 22 (48,454 ) (195 ) 481,059 Total 538,311 26 (49,061 ) (195 ) 489,081 The following tables summarize gross unrealized losses and estimated fair value for available-for-sale securities by length of time that the securities have continuously been in an unrealized loss position: December 31, 2023 Less than 12 months 12 months or more Total Fair value Gross unrealized Fair value Gross unrealized Fair value Gross unrealized USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments - - 8,152 (738 ) 8,152 (738 ) Corporate bonds 38,929 (517 ) 401,900 (30,441 ) 440,829 (30,958 ) Total 38,929 (517 ) 410,052 (31,179 ) 448,981 (31,696 ) December 31, 2022 Less than 12 months 12 months or more Total Fair value Gross unrealized Fair value Gross unrealized Fair value Gross unrealized USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 3,154 (178 ) 4,666 (429 ) 7,820 (607 ) Corporate bonds 298,607 (23,860 ) 173,002 (24,594 ) 471,609 (48,454 ) Total 301,761 (24,038 ) 177,668 (25,023 ) 479,429 (49,061 ) At December 31, 2023, the Company held 272 (2022: 300) fixed-maturity securities in an unrealized loss position with a total estimated fair value of USD 448,981 thousand (2022: USD 479,429 thousand) and gross unrealized losses of USD 31,696 thousand (2022: USD 49,061 thousand). Of these securities, 241 (2022: 95) were in a continuous unrealized loss position for greater than 12 months. The Company regularly reviews all fixed-maturity securities within its investment portfolio to determine whether a credit loss has occurred. At December 31, 2023, 76% of the Company’s fixed-maturity securities were rated “A-” or better, and 0.1% were below investment grade or not rated. All of the Company’s fixed maturity securities made expected coupon payments under the contractual terms of the securities. Based on the Company’s review as of December 31, 2023, unrealized losses were caused by interest rate changes or other market factors and were not credit-specific issues. The contractual maturities of the Company’s fixed maturity available-for-sale securities are shown in the following table: December 31, 2023 December 31, 2022 Fair value Amortized Fair value Amortized USD ’000 USD ’000 USD ’000 USD ’000 Due in one year or less 78,459 79,334 34,658 35,742 Due after one you through to five years 515,337 530,182 362,368 388,764 Due after five you through to ten years 100,801 103,933 64,409 75,576 Due after ten years 70,993 76,170 27,646 38,229 765,590 789,619 489,081 538,311 Allowance for expected credit losses The following tables provide the movement of the allowance for expected credit losses of the Company’s fixed maturity available-for-sale debt securities: December 31, 2023 December 31, 2022 Corporate Bonds USD ’000 USD ’000 Balance at beginning of year 195 - Additions for current year allowance for expected credit losses 158 195 Balance at end of year 353 195 Investment Income Year ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Interest income 39,750 20,381 14,049 Dividends from other investments 236 144 78 Dividends from equities 752 571 705 Investment’s custodian fees and other investments expenses (278 ) (149 ) (345 ) 40,460 20,947 14,487 Net realized gain (loss) on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Realized loss on sale of fixed maturity securities available-for-sale (477 ) (619 ) (88 ) Realized gain (loss) on sale of equity securities 7,200 (68 ) 396 6,723 (687 ) 308 Net unrealized gain (loss) on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Unrealized gain (loss) on equity securities 3,080 (3,561 ) 707 Unrealized gain (loss) on other investments 989 (2,225 ) 912 Unrealized (loss) gain on equity-method investments at fair value (1,385 ) 274 (5,328 ) 2,684 (5,512 ) (3,709 ) Change in allowance for expected credit losses on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Change in allowance for expected credit losses for fixed maturity securities available-for-sale (158 ) (195 ) - Change in allowance for expected credit losses on fixed maturity securities held to maturity 526 (166 ) (66 ) 368 (361 ) (66 )

Receivables

Receivables	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
RECEIVABLES	4. RECEIVABLES Premiums receivable The following table provides the balance of premiums receivable, net of allowance for expected credit losses, at December 31, 2023 and 2022: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Premiums receivable 256,519 219,487 Less: Allowance for expected credit losses (11,302 ) (9,085 ) 245,217 210,402 As at December 31, 2023, USD 11,748 thousand of the total premiums receivable balance has been due for settlement for more than one year. The Company assesses the recoverability of premium receivables through a review of policies and the concentration of receivables by region. The movement in the allowance for expected credit losses for the years ended December 31, 2023 and 2022 is as follows: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Opening balance 9,085 5,804 Change in allowance for expected credit losses 2,372 3,275 Write-offs (155 ) 6 Ending balance 11,302 9,085 Reinsurance recoverables The Group’s placement of reinsurance is diversified such that it is neither dependent on a single reinsurer nor are the operations of the Group substantially dependent upon any single reinsurance contract. Amounts recoverable from reinsurers are estimated in a manner consistent with the outstanding claims provision and are in accordance with the reinsurance contracts. Although the Group has reinsurance arrangements, it is not relieved of its direct obligations to its policyholders and thus a credit exposure exists with respect to ceded insurance, to the extent that any reinsurer is unable to meet its obligations assumed under such reinsurance agreements. Credit risk exists with reinsurance ceded to the extent that any reinsurer is unable to meet the obligations assumed under the reinsurance agreements. Allowances are established for amounts deemed uncollectible. The Company evaluates the financial condition of its reinsurers and monitors concentration of credit risk arising from its exposure to individual reinsurers. The following table provides the balance of reinsurance recoverables, net of allowance for expected credit losses, at December 31, 2023 and 2022: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Reinsurance recoverables on unpaid losses 212,610 189,125 Less: Allowance for expected credit losses (361 ) (325 ) 212,249 188,800 Reinsurance recoverables on paid losses 14,507 9,241 Less: Allowance for expected credit losses (3,673 ) (3,629 ) 10,834 5,612 223,083 194,412 % due from carriers rated “A-” or higher by major rating agencies 76 % 85 % % due from all other rated carriers 24 % 15 % % due from all other carriers with no rating by major rating agencies - - Largest balance due from any one carrier as a % of total shareholders’ equity 8 % 7 % The movement in the allowance for expected credit losses for the years ended December 31, 2023 and 2022 is as follows: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Opening balance 3,954 3,990 Change in allowance for expected credit losses 80 (36 ) Ending balance 4,034 3,954

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2023
Restricted Cash [Abstract]
RESTRICTED CASH	5. RESTRICTED CASH Other assets include restricted cash in the amount of USD 13,001 thousand placed in a trust account in favor of the National Association of Insurance Commissioners (NAIC) to secure policyholders’ obligations in relation to US surplus and excess lines business (December 31, 2022: USD 10,800 thousand). In addition, this item includes a restricted call deposit in the amount of USD 5,000 thousand (December 31, 2022: USD 5,000 thousand) placed in favor of the Group as collateral against reinsurance arrangements. The interest earned on this deposit is recognized as a liability and transferred to the reinsurance company on a semi-annual basis. The following table details a reconciliation of cash and restricted cash within the consolidated balance sheets: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Cash and cash equivalents 177,022 122,143 Restricted cash (included within other assets) 18,001 15,800 Total cash, cash equivalents and restricted cash 195,023 137,943

Reserves for Unpaid Loss and Lo

Reserves for Unpaid Loss and Loss Adjustment Expenses	12 Months Ended
	Dec. 31, 2023
Reserves for Unpaid Loss and Loss Adjustment Expenses [Abstract]
RESERVES FOR UNPAID LOSS AND LOSS ADJUSTMENT EXPENSES	6. RESERVES FOR UNPAID LOSS AND LOSS ADJUSTMENT EXPENSES To recognize liabilities for unpaid losses, both known or unknown, the company establishes reserves, which is a balance sheet account entry representing estimates of future amounts needed to pay claims and related expenses. The reserves are comprised of case reserves, incurred but not reported claims (“IBNR”) and the estimated expenses of settling claims, including claims specific costs (such as legal, loss adjuster fees). Case Reserves : When a claim is reported, a member of the claims team will establish a “case reserve”. The case reserve will represent an estimate of the expected settlement amount and will be based on information about the specific claim at that time. The estimate represents an informed judgment based on general industry practices, the experience and knowledge of the claims handler and practices of the claims team. IBNR: Management estimates the ultimate losses and loss adjustment expenses using a range of widely accepted actuarial methodologies and additional approaches as appropriate. The main methodologies used to project claims to ultimate include but are not limited to: Chain Ladder Method Initial Expected Loss Ratio (“IELR”) Method The IELRs are derived for each line of business as part of the business planning process. Where relevant and credible data is available, a “bridging” process is used to inform the selection of the IELRs and itself divides each IELR into the following components: Small losses, large risk losses, modelled catastrophe losses (losses arising from perils in countries modelled by our natural catastrophe modelling software, currently Verisk) and non-modelled Losses (losses could include but not limited to man-made “catastrophes” or natural catastrophes in countries not modelled by Verisk). The modelling process first considers the IELRs gross of outward reinsurance and then derives the anticipated outward reinsurance recoveries resulting from the gross assumptions. The reinsurance program is modelled within a capital modelling package (currently Aon’s Tyche integrated modelling ecosystem). The aim of the bridging process is to restate trended and developed experience for each past year as if it was the experience in the underwriting year. Then the accident year loss ratios are derived by unwinding the underwriting year results by half a year. This restatement involves: Bornhuetter-Ferguson (“BF”) method For paid claims For case reported claims Ceded Reinsurance and Net IBNR: Reserves for outward reinsurance recoveries on estimated IBNR claims are determined by the application of reinsurance recovery ratios to the estimated gross IBNRs. This process is undertaken by line of business and by year. The derivation of the reinsurance recovery ratio considers each type of reinsurance (Facultative, Proportional Treaty and Excess of Loss Treaty) separately, with the estimates of the reinsurance recovery ratio developing over time depending on actual claims experience. The key assumptions in calculating the most recent reserves are reviewed each quarter and adjusted where necessary. There were no significant changes in the gross or ceded methodology and assumptions during the most recent reporting period. The following table represents an analysis of loss and loss adjustment expenses and a reconciliation of the beginning and ending reserve for unpaid loss and loss adjustment expenses: Year Ended December 31 2023 USD ’000 2022 USD ’000 2021 USD ’000 Reserve for unpaid loss and loss adjustment expenses 636,245 577,650 498,582 Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses (188,800 ) (182,124 ) (188,738 ) Net reserve for unpaid loss and loss adjustment expenses at beginning of year 447,445 395,526 309,844 Loss and loss adjustment expenses incurred, net of reinsurance: Current accident year 228,381 199,577 193,811 Prior accident years (39,294 ) (42,015 ) (20,772 ) Total loss and loss adjustment expenses incurred, net of reinsurance 189,087 157,562 173,039 Loss and loss adjustment expenses paid, net of reinsurance: Current accident year (25,875 ) (14,886 ) (16,061 ) Prior accident years (110,844 ) (90,721 ) (71,247 ) Total loss and loss adjustment expenses paid, net of reinsurance (136,719 ) (105,607 ) (87,308 ) Change in allowance for expected credit losses on reinsurance recoverables on unpaid loss and loss adjustment expenses 36 (36 ) (49 ) Net reserve for unpaid loss and loss adjustment expenses at end of year 499,849 447,445 395,526 Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses 212,249 188,800 182,124 Reserve for unpaid loss and loss adjustment expenses at end of year 712,098 636,245 577,650 Development on Prior Loss Reserves: For the year ended December 31, 2023, the net ultimate loss increased by USD 228,381 thousand for accident year 2023 and decreased by USD 39,294 thousand for accident years 2022 and prior. The decrease in prior years’ ultimate losses is comparable to USD 42,015 thousand in 2022 and is split between USD 19,193 for the long-tail business, USD 16,915 thousand for the short-tail business and USD 3,186 thousand for the reinsurance business. Assumptions for future inflation have been updated to reflect the increase in the costs of goods and some services and an anticipated knock-on change in wage-related costs. The decrease in ultimate losses is however driven by consistent favorable claims experience. Claims development The following tables provide information about incurred and paid claims development, net of reinsurance, as well as cumulative claims frequency. The tables include IBNR reserves plus expected development on reported claims, and the cumulative number of reported claims as at December 31, 2023. Cumulative number of reported claims is reported on a per claim basis. Information about incurred and paid claims development for the years ended December 31, 2014 to December 31, 2022 is presented as unaudited supplementary information. Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail As of December 31, 2023 Accident For the years ended December 31 IBNR liabilities and expected development on reported Cumulative number of reported year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 3,291 8,443 9,215 10,013 12,513 11,825 11,549 11,396 11,256 11,455 4 508 2015 - 3,633 8,137 8,073 11,031 9,885 9,467 8,895 9,257 9,237 11 738 2016 - - 2,758 7,868 17,376 15,373 17,299 17,096 16,830 16,099 810 922 2017 - - - 4,542 25,186 27,658 28,840 26,826 25,431 23,894 1,291 1,523 2018 - - - - 42,580 44,766 45,182 41,041 35,191 43,288 8,568 2,303 2019 - - - - - 61,152 62,689 50,375 54,433 53,582 7,792 3,743 2020 - - - - - - 85,084 90,179 82,863 84,893 12,915 3,267 2021 - - - - - - - 100,084 78,749 61,989 22,989 2,394 2022 - - - - - - - - 83,392 73,707 45,179 2,167 2023 - - - - - - - - - 88,444 74,112 2,138 Total 466,588 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail For the years ended December 31 Unaudited Prior Years Accident year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 1,444 5,681 7,392 7,694 9,092 10,583 10,867 11,074 11,132 11,253 2015 - 941 2,128 4,535 5,675 6,240 6,841 7,007 6,919 8,422 2016 - - 792 2,639 5,119 7,071 7,981 12,074 13,405 14,111 2017 - - - 509 4,877 11,092 15,967 18,242 19,297 20,324 2018 - - - - 2,807 10,915 17,326 20,715 24,993 29,334 2019 - - - - - 4,463 17,503 22,951 31,363 36,508 2020 - - - - - - 4,573 22,884 39,541 52,719 2021 - - - - - - - 4,519 14,775 24,693 2022 - - - - - - - - 3,293 15,322 2023 - - - - - - - - - 4,985 Total 217,671 All outstanding liabilities prior to 2014, net of reinsurance 2,892 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 251,809 Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail As of December 31, 2023 IBNR liabilities and expected development Cumulative Accident For the years ended December 31 on number of year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 48,946 55,148 55,047 53,272 51,712 50,646 49,956 49,931 50,102 50,087 3 2,047 2015 - 44,305 58,417 58,008 57,282 57,524 57,475 57,206 57,101 57,209 14 1,832 2016 - - 55,683 67,098 64,789 63,532 65,074 65,498 65,806 65,778 - 2,191 2017 - - - 52,715 75,847 74,425 71,505 71,543 71,516 71,012 114 2,536 2018 - - - - 43,103 49,054 52,999 59,265 59,144 58,488 155 2,356 2019 - - - - - 50,247 43,406 41,649 41,433 40,646 223 2,156 2020 - - - - - - 57,745 50,876 51,517 55,102 1,453 1,892 2021 - - - - - - - 74,394 64,493 60,008 3,200 2,080 2022 - - - - - - - - 100,030 85,522 8,159 2,481 2023 - - - - - - - - - 109,997 64,895 1,851 Total 653,849 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail For the years ended December 31 Accident Unaudited Prior Years year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 10,356 36,942 42,468 48,346 49,373 49,496 49,359 49,414 49,657 49,688 2015 - 16,300 36,771 50,581 52,759 55,976 56,154 56,181 56,724 56,808 2016 - - 15,751 44,609 59,442 62,054 62,665 64,112 64,914 65,172 2017 - - - 16,317 39,217 50,218 58,223 63,029 67,460 67,334 2018 - - - - 17,087 34,338 47,573 51,100 51,232 54,285 2019 - - - - - 8,654 21,029 30,993 33,847 35,043 2020 - - - - - - 6,737 17,591 26,771 29,869 2021 - - - - - - - 10,396 29,782 43,704 2022 - - - - - - - - 10,428 40,185 2023 - - - - - - - - - 15,517 Total 457,605 All outstanding liabilities prior to 2014, net of reinsurance 2,063 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 198,307 Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance As of December 31, 2023 For the years ended December 31 IBNR Cumulative number of Accident Unaudited Prior Years on reported reported year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD 2014 6,444 6,613 6,157 5,661 5,133 5,139 4,998 5,007 5,005 5,019 1 250 2015 - 2,100 4,385 5,888 6,419 6,187 6,050 6,149 6,012 5,946 4 230 2016 - - 3,299 5,891 7,303 7,403 7,594 7,476 7,183 7,209 22 305 2017 - - - 9,563 15,243 14,758 15,150 15,783 14,989 14,704 124 423 2018 - - - - 10,092 11,168 9,225 9,073 8,718 8,901 67 437 2019 - - - - - 14,333 11,363 10,936 11,062 11,039 168 490 2020 - - - - - - 11,437 10,900 11,526 10,785 348 455 2021 - - - - - - - 17,788 19,628 20,346 1,274 431 2022 - - - - - - - - 16,184 12,971 1,244 397 2023 - - - - - - - - - 29,940 16,349 248 Total 126,860 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance For the years ended December 31 Unaudited Prior Years Accident year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 745 5,106 5,024 4,709 4,704 4,821 4,832 4,958 4,961 5,006 2015 - (178 ) 2,881 4,649 5,395 5,659 5,738 5,734 5,745 5,842 2016 - - 359 3,106 5,223 6,102 6,612 6,804 6,872 6,952 2017 - - - 2,593 7,436 9,375 12,633 12,815 13,156 13,257 2018 - - - - 131 5,675 6,999 7,365 7,610 7,882 2019 - - - - - 2,527 7,207 8,532 9,256 9,680 2020 - - - - - - 97 3,123 4,304 5,240 2021 - - - - - - - 1,179 8,154 13,437 2022 - - - - - - - - 951 5,316 2023 - - - - - - - - - 5,373 Total 77,985 All outstanding liabilities prior to 2014, net of reinsurance 497 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 49,372 The following table presents unaudited supplementary information about the average annual percentage payout of incurred claims, net of reinsurance for the year ended December 31, 2023: Average Annual Percentage Payout of Insurance Claims by Age, Net of Reinsurance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Specialty Long-tail 32 % 23 % 17 % 11 % 7 % 5 % 3 % 1 % 1 % Specialty Short-tail 53 % 25 % 11 % 6 % 3 % 1 % 1 % - - Reinsurance 46 % 23 % 13 % 7 % 4 % 3 % 2 % 1 % 1 % The following table provides a reconciliation of the net incurred and paid loss development tables to the reserve for unpaid loss and loss adjustment expenses as at December 31, 2023: As of USD ’000 Net outstanding liabilities Specialty Long-tail 251,809 Specialty Short-tail 198,307 Reinsurance 49,372 Reserve for unpaid loss and loss adjustment expenses 499,488 Allowance for expected credit losses on reinsurance recoverables 361 Reserve for unpaid loss and loss adjustment expenses, net of allowance 499,849 Reinsurance recoverable on unpaid loss and loss adjustment expenses Specialty Long-tail 105,186 Specialty Short-tail 107,424 Reinsurance - Total reinsurance recoverable on unpaid loss and loss adjustment expenses 212,610 Allowance for expected credit losses on reinsurance recoverables (361 ) Total reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses 212,249 Total gross reserves for unpaid loss and loss adjustment expenses 712,098

Premiums and Reinsurance Inform

Premiums and Reinsurance Information	12 Months Ended
	Dec. 31, 2023
Premiums and Reinsurance Information [Abstract]
PREMIUMS AND REINSURANCE INFORMATION	7. PREMIUMS AND REINSURANCE INFORMATION The Group purchases reinsurance as part of its risk mitigation programme. Reinsurance ceded is placed on both a proportional and non–proportional basis. The proportional reinsurance is quota–share reinsurance which is taken out to reduce the overall exposure of the Group to certain classes of business. Non–proportional reinsurance is primarily excess–of–loss reinsurance designed to mitigate the Group’s net exposure to catastrophe losses and large claims. Retention limits for the excess–of–loss reinsurance vary by class of business. Also, a significant portion of the reinsurance is affected under the facultative reinsurance contracts to cover a single risk exposure. The following table sets forth the effect of reinsurance activity on written and earned premiums and on net loss and loss adjustment expenses: Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Written premiums: Direct 348,418 301,291 267,451 Assumed 340,260 280,692 269,785 Ceded (191,465 ) (189,158 ) (157,923 ) Net 497,213 392,825 379,313 Earned premiums: Direct 321,556 284,436 251,672 Assumed 313,458 272,067 234,914 Ceded (187,862 ) (180,112 ) (149,955 ) Net 447,152 376,391 336,631 Loss and loss adjustment expense: Direct 141,092 112,078 128,730 Assumed 122,688 123,128 70,056 Ceded (74,693 ) (77,644 ) (25,747 ) Net 189,087 157,562 173,039

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Net of Ceding Commissions	12 Months Ended
	Dec. 31, 2023
Deferred Policy Acquisition Costs, Net of Ceding Commissions [Abstract]
DEFERRED POLICY ACQUISITION COSTS, NET OF CEDING COMMISSIONS	8. DEFERRED POLICY ACQUISITION COSTS, NET OF CEDING COMMISSIONS 2023 2022 2021 USD ’000 USD ’000 USD ’000 Balance at beginning of year 57,941 56,767 49,452 Acquisition costs deferred 82,307 71,373 66,937 Amortization of deferred acquisition costs (74,976 ) (70,199 ) (59,622 ) Balance at end of year 65,272 57,941 56,767

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	9. LEASES The Group leases space for offices in Bermuda, UK, UAE, Malaysia, Malta and Morocco. All of these leases are classified as operating leases, and the Group has recognized ROU assets as below. These leases have a remaining lease term ranging between 2 to 9 years, some of which include options to renew the lease term. Additional information of the Group’s leases are as follows: 2023 2022 USD ’000 USD ’000 Cash payments included in the measurement of lease liabilities in operating cash flows 913 1,035 Cash payments included in the measurement of lease liabilities in financing cash flows 35 7 Right-of-use assets 2,083 2,614 Operating lease liability 2,133 2,663 Operating lease charge 771 963 Weighted average discount rate (%) 4.3 % 4.0 % Weighted average remaining lease term (years) 3.5 3.2 Right-of-use assets are included in “Other assets” while the operating lease liability The following table presents the contractual maturities of the Company’s operating lease liabilities at December 31, 2023: Years Ending December 31, USD ’000 2024 966 2025 774 2026 348 2027 83 2028 and after 306 Total undiscounted lease liability 2,477 Less: present value adjustment (344 ) Operating lease liability 2,133

Derivative Financial Liabilitie

Derivative Financial Liabilities	12 Months Ended
	Dec. 31, 2023
Derviative Financial Liability [Abstract]
DERIVATIVE FINANCIAL LIABILITIES	10. DERIVATIVE FINANCIAL LIABILITIES Warrants In connection with the reverse recapitalization, the Group issued 17,250,000 warrants, including (i) 12,750,000 warrants issued to former stockholders of Tiberius (the “Public Warrants”) and (ii) 4,500,000 warrants that were issued in exchange for 4,500,000 Tiberius warrants transferred to former shareholders of IGI (the “Private Warrants”). The Public Warrants and Private Warrants broadly had similar terms. On July 28, 2023, the Company announced that it had commenced an offer to purchase all of its outstanding Warrants. As per the terms of the tender, the Company offered to purchase the Warrants (at a price of USD 0.95 per warrant) from any warrant holder who does not validly withdraw from the offer or who has not exercised their warrants by the expiration date (September 19, 2023). Any warrant holder who has validly withdrawn from the offer before the expiration date will be given an additional 14 days after expiration date to exercise their warrants before they would be obliged to accept the offer at USD 0.86 per warrant. As of the expiration date, 12,047,600 public warrants had been validly tendered and not validly withdrawn from the offer, and 4,500,000 private warrants had been validly tendered and not validly withdrawn from the offer. As of October 4, 2023 (14 days after expiration date), for the remaining 702,400 public warrants, the offer was deemed to be accepted and payment of USD 0.86 per warrant was made for redemption. The following table summarizes the impact of this transaction for the year ended December 31, 2023: 2023 USD ’000 Fair value loss (6,453 ) Gain on derecognition of warrants 134 Total amount recognised in consolidated statement of income in change in fair value of derivative financial liabilities (6,319 ) The following table is a summary of the number of shares of IGI’s common stock issuable upon exercise of warrants outstanding at December 31, 2022: Number of Exercise (USD) Redemption (USD) Expiration Classification Fair value (USD ’000) Fair value at (USD ’000) Public warrants 12,750,000 11.5 18.0 March 17, 2025 Liability 2,168 7,395 Private warrants 4,500,000 11.5 18.0 March 17, 2025 Liability 765 2,610 See also Note 20. Earnout Shares classified as liability Earnout Shares issued to former stockholders of Tiberius and former shareholders of IGI are accounted for as liability classified instruments because the earnout triggering events that determine the number of Earnout Shares to be earned include multiple settlements alternatives and events that are not solely indexed to the common stock of the Company. The fair value of this liability is determined using a Monte Carlo simulation model. This approach takes into account the share price as at the Valuation Date, the threshold price for vesting, expected volatility (estimated using historical share price movements of comparable companies), expected dividend yield, the risk-free rate, and the earn out period up to March 17, 2028. The Earnout Shares are subject to vesting at stock prices ranging from USD 11.50 to 15.25. On December 13, 2023, the first vesting threshold of the Earnout Shares was achieved. Accordingly, 1,400,000 were transferred to equity and no longer considered a liability. The following table summarizes the assumptions used in estimating the fair value of the Earnout Shares at each of the relevant year: December 31, December 31, Stock price (USD) 12.88 8.00 Expected volatility (%) 25.0 % 27.5 % Risk free rate (%) 3.91 % 3.98 % Expected term (in years) 4.21 5.21 Expected dividends (%) 0.31 % 0.50 % The table below illustrates the movement on the Earnout Shares during the year: December 31, December 31, USD ’000 USD ’000 Fair value of Earnout Shares at the beginning of the year 13,800 15,470 Change in fair value 20,970 (1,670 ) Transfer of the vested Earnout Shares to equity (17,480 ) - Fair value of Earnout Shares at the end of year 17,290 13,800

Commitments, Contingencies and

Commitments, Contingencies and Other Items	12 Months Ended
	Dec. 31, 2023
Commitments, Contingencies and Other Items [Abstract]
COMMITMENTS, CONTINGENCIES AND OTHER ITEMS	11. COMMITMENTS, CONTINGENCIES AND OTHER ITEMS Concentrations of credit risk The areas where significant concentrations of credit risk may exist include fixed maturity securities, cash and cash equivalents, premiums receivables and reinsurance recoverables. The Company limits the amount of credit exposure to issuers and there were no fixed maturity securities in any single issuer exceeding 5% of the aggregate fixed maturity securities portfolio as at December 31, 2023. The Company holds cash and cash equivalents in several banks and ensures that there are no significant concentrations of credit risk in any bank. Refer to “Note 3. Investments” for information with respect to investments and to “Note 4. Receivables” with respect to premiums receivable and reinsurance recoverables. Letters of Credit and other commitments As of the date of the consolidated financial statements, the Group is contingently liable for the following: ● Letters of credit amounting to USD 1,826 thousand to the order of reinsurance companies for collateralizing insurance contract liabilities in accordance with the reinsurance arrangements (December 31, 2022: USD 2,917 thousand). The Company’s current arrangements with our bankers for the issue of letters of credit require us to provide collateral in the form of investments whereby the issued letters of credit do not exceed 70% of the collateralized investment. As at December 31, 2023 and 2022, these investments amounted to USD 2,608 thousand and USD 4,167 thousand, respectively. We do not consider that this unduly restricts our liquidity at this time. ● Letter of guarantee amounting to USD 307 thousand to the order of Friends Provident Life Assurance Limited for collateralizing a rent payment obligation in one of the Group entity’s office premises (December 31, 2022: USD 292 thousand). ● In 2021, the Group signed a legally non-binding agreement with the University of California, San Francisco Foundation to contribute an amount of USD 1,250 thousand in five instalments over five years to support cancer research projects. As at December 31, 2023, the Group has paid USD 750 thousand and the remaining two instalments amounted to USD 500 thousand shall be made equally over the years from 2024 to 2025.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity [Abstract]
SHAREHOLDERS' EQUITY	12. SHAREHOLDERS’ EQUITY Common shares Under the Amended and Restated Bye-laws, the authorized share capital of the Group consists of 750,000,000 common shares, par value USD 0.01 per share, and 100,000,000 preference shares, par value USD 0.01 per share. As at December 31, 2023, the share capital was 44,500,879 (December 31, 2022: 46,013,309) common shares issued and outstanding (including 39,200 common shares (“Earnout Shares”) as at December 31, 2023 and 2022 subject to vesting but which are issued and outstanding for purposes of voting and receipt of dividends), and no preference shares issued and outstanding. All of the issued and outstanding common shares are fully paid. The following table sets out the number of common shares issued and outstanding as at December 31, 2023 and December 31, 2022: December 31, 2023 Number of shares Par value USD ’000 Common shares (par value of USD 0.01) 43,584,549 436 Earnout Shares* (par value of USD 0.01) 39,200 - Common shares under share-based compensation plan (par value of USD 0.01) (note 18) 877,130 9 44,500,879 445 December 31, 2022 Number of shares Par value USD ’000 Common shares (par value of USD 0.01) 45,306,928 453 Earnout Shares* (par value of USD 0.01) 39,200 - Common shares under share-based compensation plan (par value of USD 0.01) (note 18) 667,181 7 46,013,309 460 * Earnout Shares are considered outstanding shares and have dividend and voting rights, however, the Earnout Shares are non-transferable by their holders until they vest and, if the Earnout Shares do not vest on or prior to March 17, 2028, they will be cancelled by the Company. Treasury shares On 23 May 2022, the Group announced that the Board of Directors has approved a repurchase authorization of up to 5 million of its issued and outstanding common shares. This authorization, which does not have an expiration date, replaced the Group’s prior authorization of an aggregate consideration of up to USD 5,000 thousand, which was terminated. The table below illustrates the movement on the treasury shares during the year: December 31, 2023 Number of shares Par value USD ’000 Balance at the beginning of year 1,668 14 Purchases 3,421,238 31,090 Cancellation (3,419,106 ) (31,055 ) Balance at the end of year 3,800 49 December 31, 2022 Number of shares Par value USD ’000 Balance at the beginning of year - - Purchases 310,542 2,394 Cancellation (308,874 ) (2,380 ) Balance at the end of year 1,668 14

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	13. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) A summary of changes in accumulated other comprehensive income (loss), net of taxes (where applicable) by component for the years ended December 31, 2023, 2022 and 2021 is presented below: December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Unrealized gains (losses) on fixed maturity securities arising during the year, net of taxes 23,856 (48,454 ) (9,891 ) Reclassification of net realized losses included in net income (477 ) (619 ) (88 ) Foreign currency translation adjustments 27 (57 ) (16 ) Other comprehensive income (loss) 23,406 (49,130 ) (9,995 ) The amounts reclassified from accumulated other comprehensive (loss) income shown in the above table have been included in the following captions in our Consolidated Statements of Income (Loss): 2023 2022 2021 USD ’000 USD ’000 USD ’000 Realized gains and losses on securities: Net realized investment losses (538 ) (627 ) (120 ) Income tax benefit 61 8 32 Net of taxes (477 ) (619 ) (88 )

Taxation

Taxation	12 Months Ended
	Dec. 31, 2023
Taxation [Abstract]
TAXATION	14. TAXATION The following is a summary of the Company’s income (loss) before taxes allocated between domestic and foreign operations: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Domestic: Bermuda 91,769 72,827 37,423 Foreign: U.K. 28,494 17,029 11,493 Other* 5,785 2,310 (288 ) Income before taxes 126,048 92,166 48,628 ● International General Insurance Holdings Ltd. is not subject to income tax according to the tax law in Bermuda. ● International General Insurance Co. Ltd is a tax-exempt company according to the tax law in Bermuda. ● IGI UK and North Star Underwriting Limited are subject to corporate taxation in accordance with the UK Tax Law. An increase from the current 19% UK corporation tax rate to 25%, effective from 1 April 2023, was announced in the Budget on 3 March 2021 and enacted on 10 June 2021. * Income (loss) before taxes in “Other” mostly relates to subsidiaries and branches operating in Labuan, Morocco, Jordan, Norway, and U.A.E. with the following tax rules applicable: ● International General Insurance Company (Europe) SE (IGI Europe) is subject to the normal standard rate in Malta of 35%. ● According to the Labuan Business Activity Tax Law, Labuan registered entities are subject to 3% tax on the audited net income. ● IGI Casablanca – Representative Office has no income sources. According to Casablanca Finance City Tax Code, regional offices are taxed at a rate of 10%. The taxable base is 5% of the operating cost. ● I.G.I Underwriting is a tax-exempt company in Jordan as its main business activity is to act as an underwriting agent in respect of insurance and reinsurance business written outside Jordan. ● IGI Nordic is subject to the normal standard rate in Norway of 25%. ● International General Insurance Holdings Limited and International General Insurance Company (Dubai) Ltd. are not subject to income tax according to the tax law in UAE. Income tax expense (benefit) is comprised as follows: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Current income tax expense (benefit): Current income tax charge 6,401 3,261 2,179 Amounts in respect of prior years 12 (22 ) 97 Deferred tax expense: Origination and reversal of temporary differences 1,165 (310 ) (462 ) Amounts in respect of prior years 276 3 - Income tax expense for the year 7,854 2,932 1,814 As noted above, the tax rate in Bermuda, the Company’s country of domicile, is currently zero. Application of the statutory income tax rate for operations in other jurisdictions produces a differential to the expected income tax expense as shown below. The reconciliation between the income tax expense and the amount that would result from applying the statutory rate for the Company for the years ended December 31, 2023, 2022 and 2021 is provided below Reconciliation of tax expense and the accounting income multiplied by the applicable tax rate is as follows: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Income tax at expected tax rate of zero percent - - - Foreign statutory tax rates differential 7,825 3,027 1,838 Non-deductible expenses 60 73 80 Other (31 ) (168 ) (104 ) Income tax expense (benefit) for the year 7,854 2,932 1,814 The significant components of the deferred income tax assets and liabilities were as follows: December 31, December 31, USD ’000 USD ’000 Deferred tax assets: Operating loss carryforwards 76 398 Foreign exchange valuations - 334 Allowance for expected credit losses 363 175 Unrealized losses on investments 3,961 4,877 Other deferred tax assets 171 4 Total deferred tax assets 4,571 5,788 Deferred tax liabilities: Foreign exchange valuations (220 ) - Other deferred tax valuation (194 ) - Total deferred tax liabilities (414 ) - Net deferred tax asset 4,157 5,788 At December 31, 2023 and 2022 the Company had operating losses of USD 217 thousand and USD 1,138 thousand in Malta. The operating losses are available to offset future taxable income and do not expire. On December 27, 2023, the Government of Bermuda enacted the Corporate Income Tax Act 2023, which will apply a 15% corporate income tax to certain Bermuda businesses that are part of Multinational Enterprise Groups (“MNE Group”). The corporate income tax will take effect from January 1, 2025. An in scope MNE Group is an MNE Group if, with respect to any fiscal year beginning on or after January 1, 2025, the MNE Group has annual revenue of EUR 750 million or more in the consolidated financial statements of the ultimate parent entity for at least two of the four fiscal years immediately preceding such fiscal year. Based on these provisions, the Company is not currently considered an in scope MNE Group. An increase from the current 19% UK corporation tax rate to 25%, effective from April 1, 2023, was announced in the Budget on March 3, 2021 and enacted on June 10, 2021. As a result, UK deferred tax balances have been revalued to take this rate change into account, where relevant. In January 2022, the Ministry of Finance in the UAE announced that it will introduce federal Corporate tax (CT) on the net profits of businesses. The tax will become applicable on 1 January 2024. At December 31, 2023, the Group’s current income tax payable (included in “Other liabilities”) was USD 2,854 thousand. The tax returns that remain subject to examination by major tax jurisdictions are as follows: At December 31, 2023 Open Tax Years Major tax Jurisdiction UK 2023 Malta 2021 - 2023

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE	15. FAIR VALUE The Group uses the fair value hierarchy discussed in note 2 for determining and disclosing the fair value of financial instruments by valuation techniques. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement of the asset or liability. The Group’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and the Group considers factors specific to the asset or liability. In order to determine if a market is active or inactive for a security, the Group considers a number of factors, including, but not limited to, the spread between what a seller is asking for a security and what a buyer is bidding for the same security, the volume of trading activity for the security in question, the price of the security compared to its par value (for fixed maturity investments), and other factors that may be indicative of market activity. During 2023, corporate bonds available-for-sale amounting to USD 58,764 thousand were transferred from level 1 to level 2 as at December 31, 2023. In addition, corporate bonds available-for-sale amounting to USD 52,494 thousand were transferred from level 2 to level 1 as at December 31, 2023. These transfers between levels 1 and 2 occur depending on the input that is significant to the fair value measurement of the financial assets. There was a transfer of an equity security investment amounting to USD 6,990 thousand out of Level 3 into Level 1 during the year ended December 31, 2023 as a result of the investment now having a quoted price in an active market. Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Group’s consolidated balance sheets: December 31, 2023 Level 1 Level 2 Level 3 Total Fair USD ’000 USD ’000 USD ’000 USD ’000 Assets measured at fair value: Fixed maturity available-for-sale securities: Foreign governments 2,915 9,484 - 12,399 Corporate bonds 240,716 512,475 - 753,191 Total 243,631 521,959 - 765,590 Equity securities 26,208 - - 26,208 Other Investments - 11,060 - 11,060 Fair value option: Equity-method investments measured at fair value - - 3,522 3,522 269,839 533,019 3,522 806,380 Liabilities measured at fair value: Derivative financial liabilities (Earnout Shares) - - 17,290 17,290 December 31, 2022 Level 1 Level 2 Level 3 Total Fair USD ’000 USD ’000 USD ’000 USD ’000 Assets measured at fair value: Fixed maturity available-for-sale securities: Foreign governments 1,235 6,787 - 8,022 Corporate bonds 99,731 381,328 - 481,059 Total 100,966 388,115 - 489,081 Equity securities 24,046 - 7,364 31,410 Other Investments - 12,237 - 12,237 Fair Value option: Equity-method investments measured at fair value - - 4,907 4,907 125,012 400,352 12,271 537,635 Liabilities measured at fair value: Derivative financial liabilities (Warrants and Earnout Shares) - 10,005 13,800 23,805 Fixed Maturity available-for-sale securities Fixed maturity available-for-sale securities included in Level 1 and Level 2 consist of the majority of the Group’s investments in corporate and non-US government securities. The Group’s fixed maturity available-for-sale securities are primarily priced using pricing services from pricing vendors. Generally, the pricing vendors provide pricing for a high volume of liquid securities that are actively traded. For securities that do not trade on an exchange, the pricing services generally utilize market data and other observable inputs in matrix pricing models to determine a reasonable fair value. Observable inputs include, but are not limited to, investment yields, credit risks and spreads, reported trades, bids, offers, and reference data and industry and economic events. As the significant inputs used in the pricing process are observable market inputs, the fair value of these securities is classified within Level 1 and Level 2. Equity Securities and Other investments The Group’s exchange traded equity securities are included in Level 1 as their fair values are based on quoted market prices in active markets. Other investments consist primarily of mutual funds that generally trade daily and as the fair values are based on observable market inputs. The fair values are included in Level 2 of the fair value hierarchy. The Group has a small number of securities included in Level 3 due to a lack of an available independent pricing source and as the significant inputs used to price these securities are unobservable, the fair values are classified as Level 3. Equity-method investments measured at fair value The Group accounts for its equity method investments using the fair value option. The fair value of the Group’s investment was determined using the adjusted net asset value (“NAV”) approach. As significant inputs used in the valuation process are unobservable market inputs, the fair value of the investment is classified as Level 3. The unobservable inputs may cause significant increases or decreases in the fair value. Derivative financial liabilities The Group’s Public and Private Warrants broadly had similar terms with certain differences in few features and the fair values were based on the quoted price of the Public Warrants listed on Nasdaq. See Note 20 for redemption of Private Warrants during the year ended December 31, 2023. Although the fair values are based on observable market inputs, the fair values are classified as Level 2 due to lack of sufficient trading volume. The earn out shares issued to Tiberius former stockholders and IGI former shareholders are valued using a Monte Carlo simulation model. This approach takes into account the share price as at the valuation date, the threshold price for vesting, expected volatility, expected dividend yield, the risk-free rate, and the earn out period up to March 17, 2028. As the significant inputs used to price the earn out shares are unobservable, the fair values are classified as Level 3. The unobservable inputs and assumptions used in the valuation may cause significant increases or decreases in the fair value. Refer to Note 10 – Derivative Financial Liabilities for additional information related to the fair values and types of derivatives entered into by the Group. Level 3 Assets and Liabilities Measured at Fair Value Below is a summary of quantitative information regarding the significant unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis: As at December 31, 2023 Fair Value Valuation Unobservable Low High Weighted Equity-method investments measured at fair value 3,522 Adjusted net asset value (“NAV”) approach Sale price (per square meter) of the underlying properties owned by the investees N/A N/A N/A Derivative financial liabilities 17,290 Monte Carlo Simulation approach Volatility of IGI’s share price 20 % 30 % 25 % As at December 31, 2022 Fair Value Valuation Unobservable Low High Weighted Equities 6,990 Multiples based valuation approach Enterprise value to earnings before interest, tax, depreciation and amortization 7.9 8.7 8.3 Price to earnings 10.3 11.4 10.9 Price to book value of shares 1.1 1.2 1.1 374 Multiples based valuation approach Enterprise value to sale multiple 1.1 1.7 1.4 Equity-method investments measured at fair value 4,907 “Adjusted net Sale price (per square meter) of the underlying properties owned by the investees N/A N/A N/A Derivative financial liabilities 13,800 Monte Carlo Simulation approach Volatility of IGI’s share price 25 % 30 % 27.5 % The following table presents a reconciliation of the beginning and ending balances for all financial assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for 2023 and 2022: Equity Equity- Derivative USD ’000 USD ’000 USD ’000 Year Ended December 31, 2023 Balance at beginning of year 7,364 4,907 (13,800 ) Change in fair value included in earnings (374 ) (1,385 ) (20,970 ) Vesting of Earnout Shares - - 17,480 Transfer in and/or out of Level 3 (6,990 ) - - Balance at end of year - 3,522 (17,290 ) Year Ended December 31, 2022 Balance at beginning of year 7,046 4,633 (15,470 ) Change in fair value included in earnings 318 274 1,670 Balance at end of year 7,364 4,907 (13,800 ) There are no active markets for the equity-method investments measured at fair value. Financial Instruments Disclosed, But Not Carried, At Fair Value The Company uses various financial instruments in the normal course of its business. The carrying values of cash and cash equivalents, term deposits, short-term investments, accrued investment income, certain other assets and other liabilities not included herein approximated their fair values.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	16. earnings per share Basic earnings per share represents the net income attributable to the ordinary shareholders divided by the weighted average number of common shares outstanding during the years. Diluted earnings per share represents the net income attributable to the ordinary shareholders divided by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares. The Company has 1,612,500 unvested Earnout Shares outstanding as at and for the year ended December 31, 2023. These Earnout Shares contain a non-forfeitable right to dividends and hence are considered as participating securities. The two-class method was applied to compute basic earnings per share attributable to common shareholders. Unvested restricted shares awards have been included in the diluted weighted-average common shares outstanding using the treasury stock method. The outstanding warrants have not been factored in diluted earnings per share computation for 2022 and 2021, as the average market price of ordinary shares at the end of the year does not exceed the exercise price of the warrants. In 2023, the Company repurchased all the outstanding warrants. The following table reflects the income and share data used in the basic and diluted earnings per share calculations: Year ended December 31, 2023 2022 2021 (In USD ’000 except share and per share data) Net Income 118,194 89,234 46,814 Less: net income attributable to the Earnout Shares (7,469 ) (4,906 ) (1,968 ) Less: dividends attributable to the common shares under share-based compensation plan (30 ) (147 ) (131 ) Net income available to common shareholders 110,695 84,181 44,715 Weighted average number of shares – basic 42,943,535 45,546,262 45,470,957 Common shares under share-based compensation plan 525,341 120,872 70,060 Weighted average number of shares – diluted 43,468,876 45,667,134 45,541,017 Basic earnings per share 2.58 1.85 0.98 Diluted earnings per share 2.55 1.84 0.98

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Information [Abstract]
SEGMENT INFORMATION	17. SEGMENT INFORMATION The Group’s chief operating decision maker (“CODM”) is the Executive Committee, which periodically reviews financial information at the business line level. Each of the business lines in which the Group operates are considered operating segments. The Group has aggregated operating segments into the following reporting segments for the purposes of its consolidated financial statements: 1. Specialty Long-tail (comprising business lines with underwriting risks assumed in form of liability insurance and of a long-term nature with respect to related claims). 2. Specialty Short-tail (comprising business lines with underwriting risks assumed in the form of property and specialty line insurance and of short-term nature with respect to related claims). 3. Reinsurance which covers the assumed reinsurance treaty business lines. Segment performance is evaluated based on net underwriting results and is measured consistently with the overall net underwriting results in the consolidated financial statements. The Group also has general and administrative expenses, investment income, net realized gain (loss) on investments, net unrealized gain (loss) on investments, change in allowance for expected credit losses on investments, net foreign exchange gain (loss), change in allowance for expected credit losses on receivables, other expenses/revenues, change in fair value of derivative financial liabilities and income tax expense. These financial items are presented under “Corporate and Other” in the tables below as the Group does not allocate them to individual reporting segments. The Group does not allocate assets to individual reporting segments as the segmentation of assets and liabilities is not undertaken for any of the board, CODM and management analysis. In view of this, the Group does not disclose asset information by segment. The following tables summarizes the Group’s underwriting income or loss by segment, together with a reconciliation of underwriting income or loss to net income for the year. a) Segment disclosure for the Group’s consolidated operations is as follows: Year Ended December 31, 2023 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 226,862 400,682 61,134 688,678 - 688,678 Ceded written premiums (73,900 ) (117,565 ) - (191,465 ) - (191,465 ) Net written premiums 152,962 283,117 61,134 497,213 - 497,213 Net change in unearned premiums 4,760 (46,925 ) (7,896 ) (50,061 ) - (50,061 ) Net premiums earned 157,722 236,192 53,238 447,152 - 447,152 Underwriting deductions Net policy acquisition expenses (31,160 ) (35,997 ) (7,819 ) (74,976 ) - (74,976 ) Net loss and loss adjustment expenses (69,250 ) (93,085 ) (26,752 ) (189,087 ) - (189,087 ) Underwriting income 57,312 107,110 18,667 183,089 - 183,089 General and administrative expenses - - - - (78,927 ) (78,927 ) Investment income - - - - 40,460 40,460 Net realized gain on investments - - - - 6,723 6,723 Net unrealized gain on investments - - - - 2,684 2,684 Change in allowance for expected credit losses on investments - - - - 368 368 Change in allowance for expected credit losses on receivables - - - - (2,452 ) (2,452 ) Other revenues - - - - 1,862 1,862 Other expenses - - - - (5,594 ) (5,594 ) Change in fair value of derivative financial liabilities - - - - (27,289 ) (27,289 ) Net foreign exchange gain - - - - 5,124 5,124 Income (loss) before tax 57,312 107,110 18,667 183,089 (57,041 ) 126,048 Income tax expense - - - - (7,854 ) (7,854 ) Net income 57,312 107,110 18,667 183,089 (64,895 ) 118,194 Year Ended December 31, 2022 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 233,046 317,412 31,525 581,983 - 581,983 Ceded written premiums (65,555 ) (123,603 ) - (189,158 ) - (189,158 ) Net written premiums 167,491 193,809 31,525 392,825 - 392,825 Net change in unearned premiums (125 ) (15,096 ) (1,213 ) (16,434 ) - (16,434 ) Net premiums earned 167,366 178,713 30,312 376,391 - 376,391 Underwriting deductions Net policy acquisition expenses (33,066 ) (31,525 ) (5,608 ) (70,199 ) - (70,199 ) Net loss and loss adjustment expenses (50,530 ) (89,942 ) (17,090 ) (157,562 ) - (157,562 ) Underwriting income 83,770 57,246 7,614 148,630 - 148,630 General and administrative expenses - - - - (67,243 ) (67,243 ) Investment income - - - - 20,947 20,947 Net realized gain on investments - - - - (687 ) (687 ) Net unrealized loss on investments - - - - (5,512 ) (5,512 ) Change in allowance for expected credit losses on investments - - - - (361 ) (361 ) Change in allowance for expected credit losses on receivables - - - - (3,238 ) (3,238 ) Other revenues - - - - 2,442 2,442 Other expenses - - - - (3,961 ) (3,961 ) Change in fair value of derivative financial liabilities - - - - 4,603 4,603 Net foreign exchange loss - - - - (3,454 ) (3,454 ) Income (loss) before tax 83,770 57,246 7,614 148,630 (56,464 ) 92,166 Income tax expense - - - - (2,932 ) (2,932 ) Net income 83,770 57,246 7,614 148,630 (59,396 ) 89,234 Year Ended December 31, 2021 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 224,717 288,425 24,094 537,236 - 537,236 Ceded written premiums (56,683 ) (101,240 ) - (157,923 ) - (157,923 ) Net written premiums 168,034 187,185 24,094 379,313 - 379,313 Net change in unearned premiums (4,242 ) (35,168 ) (3,272 ) (42,682 ) - (42,682 ) Net premiums earned 163,792 152,017 20,822 336,631 - 336,631 Underwriting deductions Net policy acquisition expenses (29,881 ) (26,310 ) (3,431 ) (59,622 ) - (59,622 ) Net loss and loss adjustment expenses (84,662 ) (72,418 ) (15,959 ) (173,039 ) - (173,039 ) Underwriting income 49,249 53,289 1,432 103,970 - 103,970 General and administrative expenses - - - - (58,228 ) (58,228 ) Investment income - - - - 14,487 14,487 Net realized gain on investments - - - - 308 308 Net unrealized loss on investments - - - - (3,709 ) (3,709 ) Change in allowance for expected credit losses on investments - - - - (66 ) (66 ) Change in allowance for expected credit losses on receivables - - - - (3,262 ) (3,262 ) Other revenues - - - - 2,056 2,056 Other expenses - - - - (4,230 ) (4,230 ) Change in fair value of derivative financial liabilities - - - - 670 670 Net foreign exchange loss - - - - (3,368 ) (3,368 ) Income (loss) before tax 49,249 53,289 1,432 103,970 (55,342 ) 48,628 Income tax expense - - - - (1,814 ) (1,814 ) Net income 49,249 53,289 1,432 103,970 (57,156 ) 46,814 The table below presents long-lived assets by geographic location: December 31, December 31, USD ’000 USD ’000 Middle East 21,346 21,765 Africa 96 188 UK 1,839 2,482 Asia 17 8 Europe 458 20 North America 266 84 24,022 24,547 Long-lived assets for this purpose consist of property and equipment. The following summary presents the Group’s gross written premiums based on the location of the insured risk for the years ended December 31, 2023, 2022 and 2021 2023 2022 2021 USD ’000 USD ’000 USD ’000 Africa 33,312 32,700 27,325 Asia 71,685 54,697 54,962 Australasia 20,286 19,478 23,095 Caribbean Islands 27,904 30,446 29,781 Central America 26,740 25,338 27,735 Europe 83,614 51,746 48,034 Middle East 62,708 58,906 52,745 North America 89,610 61,661 32,272 South America 21,671 20,706 20,401 UK 195,504 190,019 194,075 Worldwide 55,644 36,286 26,811 Total 688,678 581,983 537,236

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation [Abstract]
SHARE-BASED COMPENSATION	18. SHARE-BASED COMPENSATION During 2020, the Board of Directors approved the Group’s share-based employee compensation plan, the 2020 Omnibus Incentive Plan (“the Plan”). Under the Plan, the Group granted new restricted shares to designated employees, with the following salient features: 2020 Grant 2021 Grant 1 2021 Grant 2 2022 Grant 1 2022 Grant 2 2023 Grant 1 2023 Grant 2 Grant date October 7, 2020 February 16, 2021 March 31, 2021 February 9, 2022 March 24, 2022 February 8, 2023 March 23, 2023 First vesting date (tranche 1) January 2, 2021 January 2, 2022 January 2, 2022 January 2, 2023 January 2, 2023 January 2, 2024 January 2, 2024 Second vesting date (tranche 2) January 2, 2022 January 2, 2023 January 2, 2023 January 2, 2024 January 2, 2024 January 2, 2025 January 2, 2025 Third vesting date (tranche 3) January 2, 2023 January 2, 2024 January 2, 2024 January 2, 2025 January 2, 2025 January 2, 2026 January 2, 2026 Total number of restricted shares awards 134,500 180,000 132,190 279,000 149,377 379,000 129,808 Number of restricted shares awards vesting each period 44,833 60,000 44,063 93,000 49,792 126,333 43,269 Grant date fair value per share (USD) 7.90 7.94 8.17 7.76 7.23 8.30 8.32 The grant date fair value of restricted shares was determined based on the closing quoted prices of the Company’s share on Nasdaq on the grant dates. The restricted share awards vest on the condition that the participants are in continued employment with the Company or any of its subsidiaries on the applicable vesting date. There are no other vesting conditions. For the year ended December 31, 2023, share-based compensation expense of USD 3,249 thousand (2022: USD 2,300) was recorded in the consolidated statement of income, within the general and administrative expenses and with a corresponding impact on common shares and additional paid-in capital as shown in the consolidated statement of changes in equity. A summary of restricted shares activity under the share-based compensation plan for the year ended December 31, 2023 is as follows: Number of Weighted average Aggregate USD USD ’000 RSAs granted and unvested at beginning of year 667,181 7.74 5,161 Granted 508,808 8.30 4,223 Vested (298,859 ) 7.79 (2,327 ) RSAs granted and unvested at end of year 877,130 8.05 7,057 The weighted average grant-date fair value per share of the Company’s restricted stock awards granted during the year ended December 31, 2023 and 2022 was USD 8.30 and USD 7.58, respectively. The fair value of restricted share awards that vested during the year ended December 31, 2023 and 2022 was USD 2,327 thousand and USD 1,171 thousand, respectively. As of December 31, 2023, there was USD 3,920 thousand of total unrecognized compensation expense related to restricted shares compensation plan granted by IGI. The weighted-average period over which this expense is expected to be recognized is 3 years.

Statutory Information

Statutory Information	12 Months Ended
	Dec. 31, 2023
Statutory Information [Abstract]
STATUTORY INFORMATION	19. Statutory information The Company’s insurance and reinsurance subsidiaries are subject to insurance and/or reinsurance laws and regulations in the jurisdictions in which they operate. These regulations include certain restrictions on the amount of dividends or other distributions available to shareholders without prior approval of the insurance regulatory authorities. The actual statutory capital and surplus for the Group’s principal operating subsidiaries at December 31, 2023 and 2022 is summarized as follows: Year Ended December 31, 2023 2022 USD ’000  USD ’000  Actual statutory capital and surplus Bermuda 548,714 413,790 United Kingdom 165,657 89,127 Labuan branch 33,321 29,373 Malta 22,732 8,239 As at December 31, 2023 and 2022, actual statutory capital and surplus for the Group’s principal operating subsidiaries substantially exceeded the regulatory requirements. Year Ended December 31, 2023 2022 2021 USD ’000  USD ’000  USD ’000  Statutory net income (loss) Bermuda 144,063 78,493 41,827 United Kingdom 27,147 11,077 8,631 Labuan branch 5,000 1,853 2,279 Malta 1,256 (579 ) (835 ) Bermuda The Group’s primary operating subsidiary is IGI Bermuda, which is subject to Bermuda regulatory constraints that affect its ability to pay dividends on its common shares and make other distributions. Under the Bermuda Insurance Act 1978, as amended (the “Insurance Act”), and related regulations, IGI Bermuda, as a Class 3B insurer, is required to maintain certain minimum capital, liquidity and solvency levels and is prohibited from declaring or paying dividends that would result in non-compliance with this requirement. Under the Insurance Act, the Company is subject to capital requirements calculated using the Bermuda Solvency and Capital Requirement model (“BSCR model”), which is a standardized statutory risk-based capital model used to measure the risk associated with the Company’s assets, liabilities and premiums. Under the BSCR model, the Company’s required statutory capital and surplus is referred to as the enhanced capital requirement (“ECR”). The Company is required to calculate and submit the ECR to the Bermuda Monetary authority (“BMA”) annually. Following receipt of the submission of the Company’s ECR, the BMA has the authority to impose additional capital requirements or capital add-ons, if it deems necessary. If an insurer fails to maintain or meet its ECR, the BMA may take various degrees of regulatory action. As at December 31, 2023 and 2022, the Company met its ECR. Under the Insurance Act, a Class 3B is restricted with respect to the payment of dividends and is prohibited from declaring or paying in any financial year dividends of more than 25% of its total statutory capital and surplus (as shown on its previous financial year’s statutory balance sheet) unless it files, at least seven days before payment of such dividends, with the BMA an affidavit stating that it will continue to meet the required margins following the declaration of those dividends. The Company met such Bermuda requirements for the years ended December 31, 2023 and 2022. United Kingdom The Group’s United Kingdom operating subsidiary is regulated by the Prudential Regulation Authority (“PRA”) and is subject to insurance solvency regulations which specify the minimum amount and type of capital that must be held in addition to the insurance liabilities. Since 1 January 2016 the Company has been subject to the Solvency II regime and is required to meet a Solvency Coverage Ratio (“SCR”) which is calibrated to seek to ensure a 99.5% confidence of the ability to meet its obligations over a 12-month time horizon. The Company calculates its SCR in accordance with the standard formula prescribed in the Solvency II regulations as the assumptions underlying the standard formula are considered to be a good fit for the Company’s risk profile. Under U.K. law, the Company is restricted from declaring a dividend to its shareholder unless the Company has “profits available for distribution.” The calculation as to whether a company has sufficient profits is based on its accumulated realized profits minus its accumulated realized losses. U.K. insurance regulatory laws do not prohibit the payment of dividends, but the PRA or Financial Conduct Authority, as applicable, requires that insurance companies and insurance intermediaries maintain certain solvency margins and may restrict the payment of a dividend by the Company. The Company met such United Kingdom requirements for the years ended December 31, 2023 and 2022. Labuan Branch The Group’s Labuan Branch is subjected to minimum capital requirements under the Labuan Financial Services and Securities Act 2010. The Labuan Branch monitors and ensures its capital is within the minimum solvency margins requirements under the Labuan Financial Services and Securities Act 2010 at all times. If there are any large event which will affect the Labuan Branch’s ability to maintain solvency margins requirements, the branch will notify the head office to cash call in advance. As at December 31, 2023 and 2022, the Labuan Branch met such Labuan minimum solvency margin requirements. Malta The Group’s operating subsidiary is regulated by the Malta Financial Services Authority. The company is subject to the Solvency II regime and is required to meet an SCR which is calibrated to seek to ensure a 99.5% confidence of the ability to meet its obligations over a 12-month time horizon. The Company calculates its SCR in accordance with the standard formula prescribed in the Solvency II regulations as the assumptions underlying the standard formula are considered to be a good fit for the Company’s risk profile. The Company met such Malta requirements for the year ended December 31, 2023 and 2022.

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2023
Related Parties [Abstract]
RELATED PARTIES	20. RELATED PARTIES The Company purchased all of the outstanding 4,000,000 Private Warrants owned by Wasef Jabsheh (the Executive Chairman) for USD 3,800 thousand as part of the offer to purchase all of its outstanding Warrants announced on July 28, 2023 and completed on September 19, 2023. In 2023, the Group rented a boat for business promotion from a company owned by a major shareholder. The total expense charged to the general and administrative expenses was USD 206 thousand.

Legal Proceedings

Legal Proceedings	12 Months Ended
	Dec. 31, 2023
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	21. LEGAL PROCEEDINGS The Group, in common with the insurance industry in general, is subject to litigation and arbitration in the normal course of its business. As of December 31, 2023, the Group was not a party to any litigation or arbitration which is expected by management to have a material adverse effect on the Group’s results of operations and financial condition and liquidity.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	22. subsequent events On March 11, 2024, the Company’s Board of Directors declared a dividend for the period October 1, 2023 – December 31, 2023 of USD 0.51 per share. The dividend is payable on April 22, 2024 to shareholders of record on April 1, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 118,194	$ 89,234	$ 46,814

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation Effective January 1, 2023, the Company transitioned from International Financial Reporting Standards (“IFRS”) accepted by the International Accounting Standards Board to U.S. GAAP. The accompanying consolidated financial statements and notes thereto, including all prior periods presented, have been presented under U.S. GAAP. Any references in these notes to applicable accounting guidance are meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements comprise the financial statements of International General Insurance Holdings Ltd. and its subsidiaries and have been presented in United States Dollars (“USD”) which is also the Group’s functional currency. All intercompany transactions, balances and unrealized gains and losses on transactions between Group companies are eliminated in full.
Use of estimates	Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP required management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. The Company’s principal estimates include: ● Reserve for unpaid loss and loss adjustment expenses; ● Premiums representing amounts due on business written but not yet reported; ● Allowance for expected credit losses on premiums receivable, reinsurance recoverables and certain investments including available-for-sale fixed maturity securities; ● Fair value measurements of certain financial assets and financial liabilities.
Investments	(a) Investments Investments in fixed maturity investments include corporate The Group currently classifies substantially all of its fixed maturity investments as “available-for-sale” and, accordingly, they are carried at fair value with the changes in fair value recorded as an unrealized gain or loss component of accumulated other comprehensive income in shareholders’ equity. The fair value of fixed maturity securities is generally determined from quotations received from nationally recognized pricing services, or when such prices are not available, by valuation performed by independent third-party valuation service providers. Upon derecognition, the cumulative fair value change recognized in other comprehensive income is reclassified to the consolidated statement of income. Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the trade date. Investments in fixed maturity investments held to maturity are carried at amortized cost when the Group has the ability and positive intent to hold these securities until maturity. When the Group do not have the ability or positive intent to hold bonds until maturity, these securities are classified as available-for-sale. Interest income is recognized using the effective interest method and reflects amortization of premium and accretion of discount. Premiums and discounts arising from the purchase of bonds classified as available-for-sale are treated as adjustments to effective interest rate over their estimated holding periods, until maturity, or call date, if applicable. The Group periodically reviews its investments to identify and evaluate credit based impairments related to the Company’s available-for-sale investments. The estimated credit losses are calculated by comparing expected future cash flows to be collected to the amortized cost of the security. Estimates of expected future cash flows consider among other things, macroeconomic conditions as well as the financial condition, near-term and long-term prospects for the issuer, and the likelihood of the recoverability of principal and interest. The Group recognises expected credit losses on available-for-sale securities through an allowance account. For available-for-sale securities that the Group does not intend to sell or for which it is more likely than not it will not be required to sell prior to the anticipated recovery in value, the credit component of the impairment is separated from the component related to all other market factors and reported in Change in allowance for expected credit losses on investments in the consolidated statements of income. The impairment related to all other market factors is reported as a fair value movement in a separate component of shareholder’s equity in other comprehensive income (loss). The expected credit loss allowance account is adjusted for any additional credit losses or subsequent recoveries and the cost basis of the fixed maturity security is not adjusted. For impaired available-for-sale securities that the Group intends to sell or for which it is more likely than not that it will be required to sell before an anticipated recovery in value, the full amount of the impairment is recognised in Change in allowance for expected credit losses on investments in the consolidated statement of income and the cost basis of the fixed maturity security is adjusted to reflect the recognised realized loss. The new cost basis is not adjusted for any recoveries in fair value. The Group reports accrued investment income separately from fixed maturity securities and has elected to not measure an allowance for expected credit losses for accrued investment income. The write-off of investment income accrued for fixed maturities that are in arrears for more than 30 days on interest payments is recognized as a loss in net realized investment gains (losses), in the period of the default, in the consolidated statement of income. Investments in equity securities may be accounted for using (i) the fair value option if elected, (ii) fair value through earnings if fair value is readily determinable or (iii) for equity investments without readily determinable fair values, the measurement alternative to measure at cost adjusted for any impairment and observable price changes, as applicable. The election to use the measurement alternative is made for each eligible investment. The Group’s investment portfolio includes equity securities and other investments that are accounted for at fair value. Such holdings primarily include publicly traded common stocks and funds. Dividend income on equities and other investments is reflected in investment income. Changes in fair value on equity securities and other investments are included in “Net unrealized gain (loss) on investments” in the consolidated statements of income. Under the fair value option, we may elect to measure at fair value equity method investments that are not otherwise required to be carried at fair value. Subsequent changes in fair value for designated items are reported in earnings. The Company has elected the fair value option to account for certain equity method investments in which the Company has significant influence. The Company believes the fair value option best reflects the underlying economics of the investment.
Cash and cash equivalents	(b) Cash and cash equivalents Cash and cash equivalents include cash on hand, bank balances, short-term deposits, and highly liquid investments with original maturities of three months or less that are readily convertible into known amounts of cash and are subject to insignificant risk of changes in fair value.
Term deposits	(c) Term deposits The term deposits are interest bearing bank deposits held with foreign banks and have original maturities over 12 months and are carried at amortized cost, which approximates fair value.
Short-term Investments	(d) Short-term Investments Short-term investments include term deposits that have original maturities greater than three months but less than one year at the date of purchase. These are carried at amortised cost, which approximates fair value.
Restricted Cash	(e) Restricted Cash Restricted cash represents amounts held for the benefit of third parties or is legally or contractually restricted as to withdrawal or usage by the Company. Such amounts are included in “Other assets” on the Company’s consolidated balance sheets.
Receivables	(f) Receivables Insurance receivables are recognized when due and are measured on initial recognition at the face value of the consideration to be received net of any allowance for expected credit losses. The Group monitors credit risk associated with premiums receivable through its ongoing review of amounts outstanding, aging of the receivable, historical loss data, and counterparty financial strength measures. Any allowance for expected credit losses is charged to “Change in allowance for expected credit losses on receivables” in the period. The receivable is recorded and revised in subsequent periods to reflect changes in the Company’s estimate of expected credit losses. Reinsurance recoverables represent amounts of paid loss and loss adjustment expenses, case reserves and incurred but not reported (“IBNR”) amounts ceded to reinsurers under reinsurance contracts. Amounts recoverable from reinsurers are estimated in a manner consistent with the associated claim liability. The Company reports its reinsurance recoverables net of an allowance for estimated uncollectible reinsurance, including expected credit losses. The allowance is based upon our ongoing review of amounts outstanding, length of collection periods, changes in reinsurer credit standing, disputes, applicable coverage defenses and other relevant factors. The Company uses a rating-based method to estimate the uncollectible reinsurance reserves due to credit losses. Under this method, reinsurance credit risk is estimated by considering the reinsurers probability of default. Additionally, reinsurance recoverables balances are evaluated to identify any dispute risk and when required, an additional reserve is recorded. Amounts deemed to be uncollectible, including amounts due from known insolvent reinsurers, are written off against the allowance. Changes in the allowance, as well as any subsequent collections of amounts previously written off, are reported as part of “Change in allowance for expected credit losses on receivables”.
Derivative financial instruments	(g) Derivative financial instruments Derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Warrants are accounted for as derivative financial instruments (a financial liability) as they give the holder the right to obtain a variable number of common (ordinary) shares, dependent on the characteristics of the warrant holder and the occurrence of some uncertain future events that are not within the control of the Group. The Warrants were to lapse and expire after five years from the closing of the Business Combination between IGI and Tiberius; however, all the outstanding Warrants were redeemed during 2023 following the offer announced by the Company on July 28, 2023. Earnout Shares issued to former shareholders of IGI and Tiberius are accounted for as Derivative financial instruments (a financial liability) because the earnout triggering events that determine the number of Earnout Shares to be earned include multiple settlements alternatives and events that are not solely indexed to the common stock of the Company. Any gains or losses arising from changes in the fair value of derivatives are taken directly to the consolidated statement of income as the Group has not designated derivative financial instruments under hedging arrangements.
Other assets	(h) Other assets Other assets consist of prepaid expenses, refundable deposits, restricted cash, funds held in trust accounts, property and equipment, intangible assets and operating lease assets. Property and equipment are capitalized and carried at cost less accumulated depreciation and are reported in “other assets” in the consolidated balance sheets. Depreciation is calculated using a straight-line method over the estimated useful lives of the assets, generally three to fifty years. Land is not depreciated. The accumulated depreciation for property and equipment was USD 20,499 thousand and USD 20,527 thousand at December 31, 2023 and December 31, 2022, respectively. The net book value of our property and equipment at December 31, 2023 and December 31, 2022 was USD 24,022 thousand and USD 24,547 thousand, respectively. Intangible assets include computer software and software licenses. Costs incurred to develop software programs to be used solely to meet the Company’s internal needs have been capitalized as computer software within other intangible assets. These intangible assets are amortized on a straight-line basis over their estimated economic useful lives of 5 years. The straight-line method of amortization reflects an appropriate allocation of the costs of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. For intangible assets considered to have an indefinite life, the Company performs a qualitative assessment annually to determine whether it is more likely or not that the intangible asset is impaired. Goodwill is assessed annually for impairment or more frequently if circumstances indicate an impairment may have occurred. In the ordinary course of business, the Group renews and enters into new leases for office real estate and other assets. At the lease inception date, the Group determines whether a contract contains a lease and recognizes operating lease Right-of-use (ROU) assets and operating lease liabilities based on the present value of future minimum lease payments over the lease term. As the Group’s leases do not disclose the implicit interest rate, the Group uses incremental borrowing rates to calculate the present value of future lease payments. Operating lease costs are recognized on a straight-line basis over the lease term. Renewal options are evaluated prior to the expiration date and recorded upon exercise. ROU assets are reported at cost less accumulated depreciation and depreciated over the lease term.
Premiums	(i) Premiums Premiums are recorded as written on the inception date of the policy and are earned primarily on a pro rata basis over the term of the coverage provided. Unearned premiums include the portion of premiums written relating to the unexpired terms of the coverage. Premiums include any adjustments arising in the accounting period for premiums receivable in respect of business written in prior accounting periods. Rebates that form part of the premium rate, such as no-claim rebates, are deducted from the gross premium; others are recognized as an expense. The Group also assumes reinsurance risk in the normal course of business and reinsurance premiums are typically earned over the same period as the underlying policies or risks covered by the contract. Reinsurance premiums for assumed business are estimated based on information received from reinsurers and ceding companies. Any subsequent differences that arise on these estimates are recorded in periods in which they are determined. Premiums also include estimates for pipeline premiums, representing amounts due on business written but not yet notified. The Group generally estimates the pipeline premium based on management’s judgment and prior experience of market conditions and historical data using premium development patterns evident from active underwriting years to predict ultimate premiums trends at the close of the fiscal period.
Reserve for unpaid loss and loss adjustment expenses	(j) Reserve for unpaid loss and loss adjustment expenses A reserve is held for losses, comprising amounts payable to contract holders and third parties and related loss adjustment expenses, net of salvage and other recoveries, and this is charged to income as incurred. The reserve for unpaid loss and loss adjustment expenses comprises the estimated amounts payable, in respect of losses reported to the Group and those not reported at the consolidated balance sheets date. The Group generally estimates its losses based on inputs from appointed loss adjusters or leading underwriters’ recommendations. In addition, a provision based on management’s judgement and the Group’s prior experience is maintained for the cost of settling losses incurred but not reported at the consolidated balance sheets date. The Group does not discount its reserves for unpaid loss and loss adjustment expenses, as the Group measures its insurance contract liabilities on an undiscounted basis.
Deferred policy acquisition costs	(k) Deferred policy acquisition costs Acquisition costs that are directly related and incremental to the successful acquisition or renewal of business are deferred and expensed over the same period over which the corresponding premiums are recognised, in accordance with the earning pattern of the underlying contract. The Company’s insurance and reinsurance operations capitalize incremental direct external costs that result from acquiring a contract but do not capitalize salaries, benefits and other internal underwriting costs. Policy acquisition costs are net of ceding commissions received on business ceded under certain reinsurance contracts.
Premium deficiency test	(l) Premium deficiency test A premium deficiency occurs if the sum of expected loss and loss adjustment expenses, unamortized acquisition costs exceed related unearned premiums and anticipated investment income on in-force business. A premium deficiency is recognized by charging unamortized acquisition costs to expense to the extent required in order to eliminate the deficiency. A liability is accrued for the excess deficiency if the premium deficiency exceeds the unamortized acquisition costs.
Reinsurance	(m) Reinsurance The Group cedes insurance risk in the normal course of business for all of its businesses to increase capacity and to limit its exposure to large losses and event. The Group uses pro rata and facultative reinsurance contracts. Reinsurance premiums ceded under prospective reinsurance contracts comprise the total premiums payable for the reinsurance cover provided by retrocession contracts entered into during the year and are recognized on the date on which the policy incepts. Reinsurance ceded premiums are accounted for on a basis consistent with that used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance ceding commissions are recognized as a reduction to acquisition costs. The Group has non–proportional excess–of–loss (“XOL”) reinsurance contracts designed to mitigate the Group’s net exposure of losses that exceed a specified limit including catastrophe losses. The XOL costs are determined at the inception of the reinsurance contract and are payable upfront in the form of ‘Minimum and Deposit Premium’ (“MDP”) subject to premium adjustment at the end of the contract period. Deferred premiums are calculated on a pro rata basis based on the type of the XOL reinsurance contract and included in ceded unearned premiums. Excess of loss reinsurance also includes reinstatement premium and related cash flows within the boundary of the initial reinsurance contract arising from usage of primary reinsurance coverage limit. Reinstatement occurs at predetermined rates without giving the reinsurer any right to exit or reprice the contract. This implies expected cash flows related to the reinstatement premium shall be within the boundary of the initial reinsurance contract and are not related to future contracts. Reinstatement premiums are recognized and expensed at the time a loss event occurs. The accrual of reinstatement premiums is based on an estimate of losses and loss adjustment expenses, which reflects management’s judgment. Reinsurance recoverables represent balances due from reinsurance companies. Ceded reinsurance arrangements do not relieve the Group from its obligations to policyholders. Reinsurance recoverables are the amounts recoverable from reinsurers for paid and unpaid loss and loss adjustment expenses, including amounts receivable for unsettled losses and those incurred but not reported. Reinsurance recoverables are estimated in a manner consistent with the outstanding loss provision or settled losses associated with the reinsurer’s policies and are in accordance with the related reinsurance contract. Reinsurance assets or liabilities are derecognized when the contractual rights are extinguished or expire or when the contract is transferred to another party.
Equity settled share-based compensation plan	(n) Equity settled share-based compensation plan The Group operates an equity-settled share-based plan to its employees, under which the Group receives services from employees as consideration for equity instruments of the Group. The fair value of the employee services received in exchange for the grant of the equity instruments is recognized as an expense. The total amount to be expensed is determined by reference to the fair value of the equity instruments granted, at the grant date. The grant date fair value of restricted shares is determined based on the closing quoted prices of the Company’s share on Nasdaq on the grant dates. For awards with graded vesting schedules only subject to service conditions, such as the Restricted Shares Awards (“RSAs”), compensation expense is recognized on a straight-line basis over the requisite service period for the entire award. Forfeitures of share-based compensation awards are recognized as they occur.
Treasury shares	(o) Treasury shares Treasury shares are common shares purchased by the Company and not subsequently cancelled. These shares are recorded at cost and result in a reduction of the Company’s shareholders’ equity in its consolidated balance sheets.
Offsetting	(p) Offsetting Financial assets and financial liabilities are offset, and the net amount reported in the consolidated balance sheets only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liability simultaneously. Income and expense are not offset in the consolidated statement of income unless required or permitted by any accounting standard or interpretation.
Foreign currencies	(q) Foreign currencies Assets and liabilities of foreign operations whose functional currency is not the U.S. Dollar are translated at the prevailing exchange rates at each balance sheet date. Revenues and expenses of such foreign operations are translated at average exchange rates during the year. The net effect of the translation adjustments for foreign operations is included in accumulated other comprehensive income, net of applicable deferred income tax. Monetary assets and liabilities, such as premiums receivable and the reserve for unpaid loss and loss adjustment expenses, denominated in foreign currencies are revalued at the exchange rate in effect at the balance sheet date with the resulting foreign exchange gains and losses included in net income. Accounts that are classified as non-monetary, such as deferred acquisition costs and the unearned premium reserves, are not revalued. In the case of foreign currency denominated fixed maturity securities which are classified as “available-for-sale,” the change in exchange rates between the local currency in which the investments are denominated and the Company’s functional currency at each balance sheet date is included in unrealized appreciation or decline in value of securities, a component of accumulated other comprehensive income, net of applicable deferred income tax. Translation gains and losses related to our foreign operations are recorded as a component of shareholders’ equity in the consolidated balance sheets. At December 31, 2023, 2022 and 2021, the total cumulative foreign currency translation adjustments were a loss of USD 396 thousand, USD 423 thousand and USD 366 thousand, respectively.
Taxation	(r) Taxation Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is more likely than not that taxable income will be available against which the deductible temporary differences, and the carry forward of unused tax credit and unused tax losses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is recognized against the deferred tax assets to the extent that it is more likely than not that the deferred tax assets will not be recoverable. Tax benefits relating to uncertain tax positions are only recognized when the uncertain tax position meets a more likely than not recognition threshold to be recognized.
Fair values	(s) Fair values Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: In the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible to the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between Levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. At each reporting date, the management analyses the movements in the values of assets and liabilities which are required to be re-measured or re-assessed as per the Group’s accounting policies. For this analysis, the management verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.
Segment reporting	(t) Segment reporting Reporting segments and segment measures are discussed and disclosed in note 17 Segment information.
Recent accounting pronouncements	Recent accounting pronouncements Recently Issued Accounting Standards Adopted There are no new recently issued accounting standards adopted by the Group that have a material impact on the Group’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted Accounting Standards Update (“ASU”) 2023-09, Income Taxes – Improvements to Income Tax Disclosures (Topic 740) In December 2023, the FASB issued an ASU to address improvements to income tax disclosures which requires disaggregated information about a company’s effective tax rate reconciliation as well as information on income taxes paid. The standard is effective for public companies for annual periods beginning after December 15, 2024, with early adoption permitted. The standard will be applied on a prospective basis with the option to apply it retrospectively. The Company is assessing the impact of this standard. Accounting Standards Update (“ASU”) 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures (Topic 280) In November 2023, the FASB issued an ASU to address improvements to reportable segment disclosures. The standard primarily requires the following disclosure on an annual and interim basis: (1) significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss; and (2) other segment items and description of its composition. The standard also requires current annual disclosures about a reportable segment’s profits or losses and assets to be disclosed in interim periods and the title and position of the CODM with an explanation of how the CODM uses the reported measures of segment profits or losses in assessing segment performance. The guidance is effective for public companies for fiscal years beginning after December 15, 2023 and interim periods in fiscal years within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment is applied retrospectively to all prior periods presented. The Company is assessing the impact of this standard.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Schedule of Fixed Maturity Available-for-Sale Securities	The following tables summarize the Company’s fixed maturity available-for-sale securities at December 31, 2023 and 2022: December 31, 2023 Amortised cost basis Gross unrealized gains Gross unrealized losses Allowance for expected credit losses Fair value USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 13,067 70 (738 ) - 12,399 Corporate bonds 776,552 7,950 (30,958 ) (353 ) 753,191 Total 789,619 8,020 (31,696 ) (353 ) 765,590 December 31, 2022 Amortised cost basis Gross unrealized gains Gross Unrealized losses Allowance for expected credit losses Fair value USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 8,625 4 (607 ) - 8,022 Corporate bonds 529,686 22 (48,454 ) (195 ) 481,059 Total 538,311 26 (49,061 ) (195 ) 489,081
Schedule of Net Unrealized Gain (Loss) on Investments	The following tables summarize gross unrealized losses and estimated fair value for available-for-sale securities by length of time that the securities have continuously been in an unrealized loss position: December 31, 2023 Less than 12 months 12 months or more Total Fair value Gross unrealized Fair value Gross unrealized Fair value Gross unrealized USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments - - 8,152 (738 ) 8,152 (738 ) Corporate bonds 38,929 (517 ) 401,900 (30,441 ) 440,829 (30,958 ) Total 38,929 (517 ) 410,052 (31,179 ) 448,981 (31,696 ) December 31, 2022 Less than 12 months 12 months or more Total Fair value Gross unrealized Fair value Gross unrealized Fair value Gross unrealized USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Foreign governments 3,154 (178 ) 4,666 (429 ) 7,820 (607 ) Corporate bonds 298,607 (23,860 ) 173,002 (24,594 ) 471,609 (48,454 ) Total 301,761 (24,038 ) 177,668 (25,023 ) 479,429 (49,061 )
Schedule of Contractual Maturities of the Company’s Fixed Maturity Available-for-Sale Securities	The contractual maturities of the Company’s fixed maturity available-for-sale securities are shown in the following table: December 31, 2023 December 31, 2022 Fair value Amortized Fair value Amortized USD ’000 USD ’000 USD ’000 USD ’000 Due in one year or less 78,459 79,334 34,658 35,742 Due after one you through to five years 515,337 530,182 362,368 388,764 Due after five you through to ten years 100,801 103,933 64,409 75,576 Due after ten years 70,993 76,170 27,646 38,229 765,590 789,619 489,081 538,311
Schedule of Allowance for Expected Credit Losses	The following tables provide the movement of the allowance for expected credit losses of the Company’s fixed maturity available-for-sale debt securities: December 31, 2023 December 31, 2022 Corporate Bonds USD ’000 USD ’000 Balance at beginning of year 195 - Additions for current year allowance for expected credit losses 158 195 Balance at end of year 353 195
Schedule of Investment Income	Investment Income Year ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Interest income 39,750 20,381 14,049 Dividends from other investments 236 144 78 Dividends from equities 752 571 705 Investment’s custodian fees and other investments expenses (278 ) (149 ) (345 ) 40,460 20,947 14,487
Schedule of Net Realized Gain (Loss) on Investments	Net realized gain (loss) on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Realized loss on sale of fixed maturity securities available-for-sale (477 ) (619 ) (88 ) Realized gain (loss) on sale of equity securities 7,200 (68 ) 396 6,723 (687 ) 308
Schedule of Net Unrealized Gain (Loss) on Investments	Net unrealized gain (loss) on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Unrealized gain (loss) on equity securities 3,080 (3,561 ) 707 Unrealized gain (loss) on other investments 989 (2,225 ) 912 Unrealized (loss) gain on equity-method investments at fair value (1,385 ) 274 (5,328 ) 2,684 (5,512 ) (3,709 )
Schedule of Change in Allowance for Expected Credit Losses on Investments	Change in allowance for expected credit losses on investments Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Change in allowance for expected credit losses for fixed maturity securities available-for-sale (158 ) (195 ) - Change in allowance for expected credit losses on fixed maturity securities held to maturity 526 (166 ) (66 ) 368 (361 ) (66 )

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Premiums Receivable Net of Allowance for Expected Credit Losses	The following table provides the balance of premiums receivable, net of allowance for expected credit losses, at December 31, 2023 and 2022: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Premiums receivable 256,519 219,487 Less: Allowance for expected credit losses (11,302 ) (9,085 ) 245,217 210,402
Schedule of Allowance for Expected Credit Losses	The movement in the allowance for expected credit losses for the years ended December 31, 2023 and 2022 is as follows: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Opening balance 9,085 5,804 Change in allowance for expected credit losses 2,372 3,275 Write-offs (155 ) 6 Ending balance 11,302 9,085 December 31, 2023 December 31, 2022 USD ’000 USD ’000 Opening balance 3,954 3,990 Change in allowance for expected credit losses 80 (36 ) Ending balance 4,034 3,954
Schedule of Reinsurance Recoverables Net of Allowance for Expected Credit Losses	The following table provides the balance of reinsurance recoverables, net of allowance for expected credit losses, at December 31, 2023 and 2022: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Reinsurance recoverables on unpaid losses 212,610 189,125 Less: Allowance for expected credit losses (361 ) (325 ) 212,249 188,800 Reinsurance recoverables on paid losses 14,507 9,241 Less: Allowance for expected credit losses (3,673 ) (3,629 ) 10,834 5,612 223,083 194,412
Schedule of Rated Carriers	% due from carriers rated “A-” or higher by major rating agencies 76 % 85 % % due from all other rated carriers 24 % 15 % % due from all other carriers with no rating by major rating agencies - - Largest balance due from any one carrier as a % of total shareholders’ equity 8 % 7 %

Restricted Cash (Tables)

Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted Cash [Abstract]
Schedule of Reconciliation of Cash and Restricted Cash	The following table details a reconciliation of cash and restricted cash within the consolidated balance sheets: December 31, 2023 December 31, 2022 USD ’000 USD ’000 Cash and cash equivalents 177,022 122,143 Restricted cash (included within other assets) 18,001 15,800 Total cash, cash equivalents and restricted cash 195,023 137,943

Reserves for Unpaid Loss and _2

Reserves for Unpaid Loss and Loss Adjustment Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Reserves for Unpaid Loss and Loss Adjustment Expenses [Abstract]
Schedule of Table Represents an Analysis of Loss and Loss Adjustment Expenses	The following table represents an analysis of loss and loss adjustment expenses and a reconciliation of the beginning and ending reserve for unpaid loss and loss adjustment expenses: Year Ended December 31 2023 USD ’000 2022 USD ’000 2021 USD ’000 Reserve for unpaid loss and loss adjustment expenses 636,245 577,650 498,582 Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses (188,800 ) (182,124 ) (188,738 ) Net reserve for unpaid loss and loss adjustment expenses at beginning of year 447,445 395,526 309,844 Loss and loss adjustment expenses incurred, net of reinsurance: Current accident year 228,381 199,577 193,811 Prior accident years (39,294 ) (42,015 ) (20,772 ) Total loss and loss adjustment expenses incurred, net of reinsurance 189,087 157,562 173,039 Loss and loss adjustment expenses paid, net of reinsurance: Current accident year (25,875 ) (14,886 ) (16,061 ) Prior accident years (110,844 ) (90,721 ) (71,247 ) Total loss and loss adjustment expenses paid, net of reinsurance (136,719 ) (105,607 ) (87,308 ) Change in allowance for expected credit losses on reinsurance recoverables on unpaid loss and loss adjustment expenses 36 (36 ) (49 ) Net reserve for unpaid loss and loss adjustment expenses at end of year 499,849 447,445 395,526 Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses 212,249 188,800 182,124 Reserve for unpaid loss and loss adjustment expenses at end of year 712,098 636,245 577,650
Schedule of Information about Incurred and Paid Claims Development	Information about incurred and paid claims development for the years ended December 31, 2014 to December 31, 2022 is presented as unaudited supplementary information. Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail As of December 31, 2023 Accident For the years ended December 31 IBNR liabilities and expected development on reported Cumulative number of reported year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 3,291 8,443 9,215 10,013 12,513 11,825 11,549 11,396 11,256 11,455 4 508 2015 - 3,633 8,137 8,073 11,031 9,885 9,467 8,895 9,257 9,237 11 738 2016 - - 2,758 7,868 17,376 15,373 17,299 17,096 16,830 16,099 810 922 2017 - - - 4,542 25,186 27,658 28,840 26,826 25,431 23,894 1,291 1,523 2018 - - - - 42,580 44,766 45,182 41,041 35,191 43,288 8,568 2,303 2019 - - - - - 61,152 62,689 50,375 54,433 53,582 7,792 3,743 2020 - - - - - - 85,084 90,179 82,863 84,893 12,915 3,267 2021 - - - - - - - 100,084 78,749 61,989 22,989 2,394 2022 - - - - - - - - 83,392 73,707 45,179 2,167 2023 - - - - - - - - - 88,444 74,112 2,138 Total 466,588 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail For the years ended December 31 Unaudited Prior Years Accident year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 1,444 5,681 7,392 7,694 9,092 10,583 10,867 11,074 11,132 11,253 2015 - 941 2,128 4,535 5,675 6,240 6,841 7,007 6,919 8,422 2016 - - 792 2,639 5,119 7,071 7,981 12,074 13,405 14,111 2017 - - - 509 4,877 11,092 15,967 18,242 19,297 20,324 2018 - - - - 2,807 10,915 17,326 20,715 24,993 29,334 2019 - - - - - 4,463 17,503 22,951 31,363 36,508 2020 - - - - - - 4,573 22,884 39,541 52,719 2021 - - - - - - - 4,519 14,775 24,693 2022 - - - - - - - - 3,293 15,322 2023 - - - - - - - - - 4,985 Total 217,671 All outstanding liabilities prior to 2014, net of reinsurance 2,892 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 251,809 Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail As of December 31, 2023 IBNR liabilities and expected development Cumulative Accident For the years ended December 31 on number of year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 48,946 55,148 55,047 53,272 51,712 50,646 49,956 49,931 50,102 50,087 3 2,047 2015 - 44,305 58,417 58,008 57,282 57,524 57,475 57,206 57,101 57,209 14 1,832 2016 - - 55,683 67,098 64,789 63,532 65,074 65,498 65,806 65,778 - 2,191 2017 - - - 52,715 75,847 74,425 71,505 71,543 71,516 71,012 114 2,536 2018 - - - - 43,103 49,054 52,999 59,265 59,144 58,488 155 2,356 2019 - - - - - 50,247 43,406 41,649 41,433 40,646 223 2,156 2020 - - - - - - 57,745 50,876 51,517 55,102 1,453 1,892 2021 - - - - - - - 74,394 64,493 60,008 3,200 2,080 2022 - - - - - - - - 100,030 85,522 8,159 2,481 2023 - - - - - - - - - 109,997 64,895 1,851 Total 653,849 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail For the years ended December 31 Accident Unaudited Prior Years year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 10,356 36,942 42,468 48,346 49,373 49,496 49,359 49,414 49,657 49,688 2015 - 16,300 36,771 50,581 52,759 55,976 56,154 56,181 56,724 56,808 2016 - - 15,751 44,609 59,442 62,054 62,665 64,112 64,914 65,172 2017 - - - 16,317 39,217 50,218 58,223 63,029 67,460 67,334 2018 - - - - 17,087 34,338 47,573 51,100 51,232 54,285 2019 - - - - - 8,654 21,029 30,993 33,847 35,043 2020 - - - - - - 6,737 17,591 26,771 29,869 2021 - - - - - - - 10,396 29,782 43,704 2022 - - - - - - - - 10,428 40,185 2023 - - - - - - - - - 15,517 Total 457,605 All outstanding liabilities prior to 2014, net of reinsurance 2,063 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 198,307 Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance As of December 31, 2023 For the years ended December 31 IBNR Cumulative number of Accident Unaudited Prior Years on reported reported year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 claims claims USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD 2014 6,444 6,613 6,157 5,661 5,133 5,139 4,998 5,007 5,005 5,019 1 250 2015 - 2,100 4,385 5,888 6,419 6,187 6,050 6,149 6,012 5,946 4 230 2016 - - 3,299 5,891 7,303 7,403 7,594 7,476 7,183 7,209 22 305 2017 - - - 9,563 15,243 14,758 15,150 15,783 14,989 14,704 124 423 2018 - - - - 10,092 11,168 9,225 9,073 8,718 8,901 67 437 2019 - - - - - 14,333 11,363 10,936 11,062 11,039 168 490 2020 - - - - - - 11,437 10,900 11,526 10,785 348 455 2021 - - - - - - - 17,788 19,628 20,346 1,274 431 2022 - - - - - - - - 16,184 12,971 1,244 397 2023 - - - - - - - - - 29,940 16,349 248 Total 126,860 Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance For the years ended December 31 Unaudited Prior Years Accident year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 2014 745 5,106 5,024 4,709 4,704 4,821 4,832 4,958 4,961 5,006 2015 - (178 ) 2,881 4,649 5,395 5,659 5,738 5,734 5,745 5,842 2016 - - 359 3,106 5,223 6,102 6,612 6,804 6,872 6,952 2017 - - - 2,593 7,436 9,375 12,633 12,815 13,156 13,257 2018 - - - - 131 5,675 6,999 7,365 7,610 7,882 2019 - - - - - 2,527 7,207 8,532 9,256 9,680 2020 - - - - - - 97 3,123 4,304 5,240 2021 - - - - - - - 1,179 8,154 13,437 2022 - - - - - - - - 951 5,316 2023 - - - - - - - - - 5,373 Total 77,985 All outstanding liabilities prior to 2014, net of reinsurance 497 Reserve for unpaid loss and loss adjustment expenses, net of reinsurance 49,372
Schedule of Unaudited Supplementary Information about the Average Annual Percentage	The following table presents unaudited supplementary information about the average annual percentage payout of incurred claims, net of reinsurance for the year ended December 31, 2023: Average Annual Percentage Payout of Insurance Claims by Age, Net of Reinsurance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Specialty Long-tail 32 % 23 % 17 % 11 % 7 % 5 % 3 % 1 % 1 % Specialty Short-tail 53 % 25 % 11 % 6 % 3 % 1 % 1 % - - Reinsurance 46 % 23 % 13 % 7 % 4 % 3 % 2 % 1 % 1 %
Schedule of Reconciliation of the Net Incurred and Paid Loss Development	The following table provides a reconciliation of the net incurred and paid loss development tables to the reserve for unpaid loss and loss adjustment expenses as at December 31, 2023: As of USD ’000 Net outstanding liabilities Specialty Long-tail 251,809 Specialty Short-tail 198,307 Reinsurance 49,372 Reserve for unpaid loss and loss adjustment expenses 499,488 Allowance for expected credit losses on reinsurance recoverables 361 Reserve for unpaid loss and loss adjustment expenses, net of allowance 499,849 Reinsurance recoverable on unpaid loss and loss adjustment expenses Specialty Long-tail 105,186 Specialty Short-tail 107,424 Reinsurance - Total reinsurance recoverable on unpaid loss and loss adjustment expenses 212,610 Allowance for expected credit losses on reinsurance recoverables (361 ) Total reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses 212,249 Total gross reserves for unpaid loss and loss adjustment expenses 712,098

Premiums and Reinsurance Info_2

Premiums and Reinsurance Information (Tables)	12 Months Ended
	Dec. 31, 2023
Premiums and Reinsurance Information [Abstract]
Schedule of Effect of Reinsurance Activity on Written and Earned Premiums and on Net Loss and Loss Adjustment Expenses	The following table sets forth the effect of reinsurance activity on written and earned premiums and on net loss and loss adjustment expenses: Year Ended December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Written premiums: Direct 348,418 301,291 267,451 Assumed 340,260 280,692 269,785 Ceded (191,465 ) (189,158 ) (157,923 ) Net 497,213 392,825 379,313 Earned premiums: Direct 321,556 284,436 251,672 Assumed 313,458 272,067 234,914 Ceded (187,862 ) (180,112 ) (149,955 ) Net 447,152 376,391 336,631 Loss and loss adjustment expense: Direct 141,092 112,078 128,730 Assumed 122,688 123,128 70,056 Ceded (74,693 ) (77,644 ) (25,747 ) Net 189,087 157,562 173,039

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Net of Ceding Commissions (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Policy Acquisition Costs, Net of Ceding Commissions [Abstract]
Schedule of Deferred Policy Acquisition Costs Net of Ceding Commissions	2023 2022 2021 USD ’000 USD ’000 USD ’000 Balance at beginning of year 57,941 56,767 49,452 Acquisition costs deferred 82,307 71,373 66,937 Amortization of deferred acquisition costs (74,976 ) (70,199 ) (59,622 ) Balance at end of year 65,272 57,941 56,767

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Operating Leases	These leases have a remaining lease term ranging between 2 to 9 years, some of which include options to renew the lease term. Additional information of the Group’s leases are as follows: 2023 2022 USD ’000 USD ’000 Cash payments included in the measurement of lease liabilities in operating cash flows 913 1,035 Cash payments included in the measurement of lease liabilities in financing cash flows 35 7 Right-of-use assets 2,083 2,614 Operating lease liability 2,133 2,663 Operating lease charge 771 963 Weighted average discount rate (%) 4.3 % 4.0 % Weighted average remaining lease term (years) 3.5 3.2
Schedule of Contractual Maturities	The following table presents the contractual maturities of the Company’s operating lease liabilities at December 31, 2023: Years Ending December 31, USD ’000 2024 966 2025 774 2026 348 2027 83 2028 and after 306 Total undiscounted lease liability 2,477 Less: present value adjustment (344 ) Operating lease liability 2,133

Derivative Financial Liabilit_2

Derivative Financial Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Derviative Financial Liability [Abstract]
Schedule of Impact of this Transaction	The following table summarizes the impact of this transaction for the year ended December 31, 2023: 2023 USD ’000 Fair value loss (6,453 ) Gain on derecognition of warrants 134 Total amount recognised in consolidated statement of income in change in fair value of derivative financial liabilities (6,319 )
Schedule of Exercise of Warrants Outstanding	The following table is a summary of the number of shares of IGI’s common stock issuable upon exercise of warrants outstanding at December 31, 2022: Number of Exercise (USD) Redemption (USD) Expiration Classification Fair value (USD ’000) Fair value at (USD ’000) Public warrants 12,750,000 11.5 18.0 March 17, 2025 Liability 2,168 7,395 Private warrants 4,500,000 11.5 18.0 March 17, 2025 Liability 765 2,610
Schedule of Fair Value of the Earnout Shares	The following table summarizes the assumptions used in estimating the fair value of the Earnout Shares at each of the relevant year: December 31, December 31, Stock price (USD) 12.88 8.00 Expected volatility (%) 25.0 % 27.5 % Risk free rate (%) 3.91 % 3.98 % Expected term (in years) 4.21 5.21 Expected dividends (%) 0.31 % 0.50 %
Schedule of Movement on the Earnout Shares	The table below illustrates the movement on the Earnout Shares during the year: December 31, December 31, USD ’000 USD ’000 Fair value of Earnout Shares at the beginning of the year 13,800 15,470 Change in fair value 20,970 (1,670 ) Transfer of the vested Earnout Shares to equity (17,480 ) - Fair value of Earnout Shares at the end of year 17,290 13,800

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity [Abstract]
Schedule of Common Shares Issued and Outstanding	The following table sets out the number of common shares issued and outstanding as at December 31, 2023 and December 31, 2022: December 31, 2023 Number of shares Par value USD ’000 Common shares (par value of USD 0.01) 43,584,549 436 Earnout Shares* (par value of USD 0.01) 39,200 - Common shares under share-based compensation plan (par value of USD 0.01) (note 18) 877,130 9 44,500,879 445 December 31, 2022 Number of shares Par value USD ’000 Common shares (par value of USD 0.01) 45,306,928 453 Earnout Shares* (par value of USD 0.01) 39,200 - Common shares under share-based compensation plan (par value of USD 0.01) (note 18) 667,181 7 46,013,309 460 * Earnout Shares are considered outstanding shares and have dividend and voting rights, however, the Earnout Shares are non-transferable by their holders until they vest and, if the Earnout Shares do not vest on or prior to March 17, 2028, they will be cancelled by the Company.
Schedule of Illustrates the Movement on the Treasury Shares	This authorization, which does not have an expiration date, replaced the Group’s prior authorization of an aggregate consideration of up to USD 5,000 thousand, which was terminated. The table below illustrates the movement on the treasury shares during the year: December 31, 2023 Number of shares Par value USD ’000 Balance at the beginning of year 1,668 14 Purchases 3,421,238 31,090 Cancellation (3,419,106 ) (31,055 ) Balance at the end of year 3,800 49 December 31, 2022 Number of shares Par value USD ’000 Balance at the beginning of year - - Purchases 310,542 2,394 Cancellation (308,874 ) (2,380 ) Balance at the end of year 1,668 14

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of changes in accumulated other comprehensive income (loss), net of taxes (where applicable) by component for the years ended December 31, 2023, 2022 and 2021 is presented below: December 31, 2023 2022 2021 USD ’000 USD ’000 USD ’000 Unrealized gains (losses) on fixed maturity securities arising during the year, net of taxes 23,856 (48,454 ) (9,891 ) Reclassification of net realized losses included in net income (477 ) (619 ) (88 ) Foreign currency translation adjustments 27 (57 ) (16 ) Other comprehensive income (loss) 23,406 (49,130 ) (9,995 )
Schedule of Comprehensive Income (Loss)	The amounts reclassified from accumulated other comprehensive (loss) income shown in the above table have been included in the following captions in our Consolidated Statements of Income (Loss): 2023 2022 2021 USD ’000 USD ’000 USD ’000 Realized gains and losses on securities: Net realized investment losses (538 ) (627 ) (120 ) Income tax benefit 61 8 32 Net of taxes (477 ) (619 ) (88 )

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2023
Taxation [Abstract]
Schedule of Company’s Income (Loss) Before Taxes	The following is a summary of the Company’s income (loss) before taxes allocated between domestic and foreign operations: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Domestic: Bermuda 91,769 72,827 37,423 Foreign: U.K. 28,494 17,029 11,493 Other* 5,785 2,310 (288 ) Income before taxes 126,048 92,166 48,628
Schedule of Income Tax Payable	Income tax expense (benefit) is comprised as follows: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Current income tax expense (benefit): Current income tax charge 6,401 3,261 2,179 Amounts in respect of prior years 12 (22 ) 97 Deferred tax expense: Origination and reversal of temporary differences 1,165 (310 ) (462 ) Amounts in respect of prior years 276 3 - Income tax expense for the year 7,854 2,932 1,814
Schedule of Income Tax Payable	Reconciliation of tax expense and the accounting income multiplied by the applicable tax rate is as follows: 2023 2022 2021 USD ’000 USD ’000 USD ’000 Income tax at expected tax rate of zero percent - - - Foreign statutory tax rates differential 7,825 3,027 1,838 Non-deductible expenses 60 73 80 Other (31 ) (168 ) (104 ) Income tax expense (benefit) for the year 7,854 2,932 1,814
Schedule of Deferred Income Tax Assets and Liabilities	The significant components of the deferred income tax assets and liabilities were as follows: December 31, December 31, USD ’000 USD ’000 Deferred tax assets: Operating loss carryforwards 76 398 Foreign exchange valuations - 334 Allowance for expected credit losses 363 175 Unrealized losses on investments 3,961 4,877 Other deferred tax assets 171 4 Total deferred tax assets 4,571 5,788 Deferred tax liabilities: Foreign exchange valuations (220 ) - Other deferred tax valuation (194 ) - Total deferred tax liabilities (414 ) - Net deferred tax asset 4,157 5,788
Schedule of Income Tax Payable	The tax returns that remain subject to examination by major tax jurisdictions are as follows: At December 31, 2023 Open Tax Years Major tax Jurisdiction UK 2023 Malta 2021 - 2023

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of the Assets and Liabilities that are Measured at Fair Value on a Recurring Basis	Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Group’s consolidated balance sheets: December 31, 2023 Level 1 Level 2 Level 3 Total Fair USD ’000 USD ’000 USD ’000 USD ’000 Assets measured at fair value: Fixed maturity available-for-sale securities: Foreign governments 2,915 9,484 - 12,399 Corporate bonds 240,716 512,475 - 753,191 Total 243,631 521,959 - 765,590 Equity securities 26,208 - - 26,208 Other Investments - 11,060 - 11,060 Fair value option: Equity-method investments measured at fair value - - 3,522 3,522 269,839 533,019 3,522 806,380 Liabilities measured at fair value: Derivative financial liabilities (Earnout Shares) - - 17,290 17,290 December 31, 2022 Level 1 Level 2 Level 3 Total Fair USD ’000 USD ’000 USD ’000 USD ’000 Assets measured at fair value: Fixed maturity available-for-sale securities: Foreign governments 1,235 6,787 - 8,022 Corporate bonds 99,731 381,328 - 481,059 Total 100,966 388,115 - 489,081 Equity securities 24,046 - 7,364 31,410 Other Investments - 12,237 - 12,237 Fair Value option: Equity-method investments measured at fair value - - 4,907 4,907 125,012 400,352 12,271 537,635 Liabilities measured at fair value: Derivative financial liabilities (Warrants and Earnout Shares) - 10,005 13,800 23,805
Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis	Below is a summary of quantitative information regarding the significant unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis: As at December 31, 2023 Fair Value Valuation Unobservable Low High Weighted Equity-method investments measured at fair value 3,522 Adjusted net asset value (“NAV”) approach Sale price (per square meter) of the underlying properties owned by the investees N/A N/A N/A Derivative financial liabilities 17,290 Monte Carlo Simulation approach Volatility of IGI’s share price 20 % 30 % 25 % As at December 31, 2022 Fair Value Valuation Unobservable Low High Weighted Equities 6,990 Multiples based valuation approach Enterprise value to earnings before interest, tax, depreciation and amortization 7.9 8.7 8.3 Price to earnings 10.3 11.4 10.9 Price to book value of shares 1.1 1.2 1.1 374 Multiples based valuation approach Enterprise value to sale multiple 1.1 1.7 1.4 Equity-method investments measured at fair value 4,907 “Adjusted net Sale price (per square meter) of the underlying properties owned by the investees N/A N/A N/A Derivative financial liabilities 13,800 Monte Carlo Simulation approach Volatility of IGI’s share price 25 % 30 % 27.5 %
Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis	The following table presents a reconciliation of the beginning and ending balances for all financial assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for 2023 and 2022: Equity Equity- Derivative USD ’000 USD ’000 USD ’000 Year Ended December 31, 2023 Balance at beginning of year 7,364 4,907 (13,800 ) Change in fair value included in earnings (374 ) (1,385 ) (20,970 ) Vesting of Earnout Shares - - 17,480 Transfer in and/or out of Level 3 (6,990 ) - - Balance at end of year - 3,522 (17,290 ) Year Ended December 31, 2022 Balance at beginning of year 7,046 4,633 (15,470 ) Change in fair value included in earnings 318 274 1,670 Balance at end of year 7,364 4,907 (13,800 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of the Income and Share Data Used in the Basic and Diluted Earnings Per Share	The following table reflects the income and share data used in the basic and diluted earnings per share calculations: Year ended December 31, 2023 2022 2021 (In USD ’000 except share and per share data) Net Income 118,194 89,234 46,814 Less: net income attributable to the Earnout Shares (7,469 ) (4,906 ) (1,968 ) Less: dividends attributable to the common shares under share-based compensation plan (30 ) (147 ) (131 ) Net income available to common shareholders 110,695 84,181 44,715 Weighted average number of shares – basic 42,943,535 45,546,262 45,470,957 Common shares under share-based compensation plan 525,341 120,872 70,060 Weighted average number of shares – diluted 43,468,876 45,667,134 45,541,017 Basic earnings per share 2.58 1.85 0.98 Diluted earnings per share 2.55 1.84 0.98

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Information [Abstract]
Schedule of Group’s Consolidated Operations	Segment disclosure for the Group’s consolidated operations is as follows: Year Ended December 31, 2023 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 226,862 400,682 61,134 688,678 - 688,678 Ceded written premiums (73,900 ) (117,565 ) - (191,465 ) - (191,465 ) Net written premiums 152,962 283,117 61,134 497,213 - 497,213 Net change in unearned premiums 4,760 (46,925 ) (7,896 ) (50,061 ) - (50,061 ) Net premiums earned 157,722 236,192 53,238 447,152 - 447,152 Underwriting deductions Net policy acquisition expenses (31,160 ) (35,997 ) (7,819 ) (74,976 ) - (74,976 ) Net loss and loss adjustment expenses (69,250 ) (93,085 ) (26,752 ) (189,087 ) - (189,087 ) Underwriting income 57,312 107,110 18,667 183,089 - 183,089 General and administrative expenses - - - - (78,927 ) (78,927 ) Investment income - - - - 40,460 40,460 Net realized gain on investments - - - - 6,723 6,723 Net unrealized gain on investments - - - - 2,684 2,684 Change in allowance for expected credit losses on investments - - - - 368 368 Change in allowance for expected credit losses on receivables - - - - (2,452 ) (2,452 ) Other revenues - - - - 1,862 1,862 Other expenses - - - - (5,594 ) (5,594 ) Change in fair value of derivative financial liabilities - - - - (27,289 ) (27,289 ) Net foreign exchange gain - - - - 5,124 5,124 Income (loss) before tax 57,312 107,110 18,667 183,089 (57,041 ) 126,048 Income tax expense - - - - (7,854 ) (7,854 ) Net income 57,312 107,110 18,667 183,089 (64,895 ) 118,194 Year Ended December 31, 2022 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 233,046 317,412 31,525 581,983 - 581,983 Ceded written premiums (65,555 ) (123,603 ) - (189,158 ) - (189,158 ) Net written premiums 167,491 193,809 31,525 392,825 - 392,825 Net change in unearned premiums (125 ) (15,096 ) (1,213 ) (16,434 ) - (16,434 ) Net premiums earned 167,366 178,713 30,312 376,391 - 376,391 Underwriting deductions Net policy acquisition expenses (33,066 ) (31,525 ) (5,608 ) (70,199 ) - (70,199 ) Net loss and loss adjustment expenses (50,530 ) (89,942 ) (17,090 ) (157,562 ) - (157,562 ) Underwriting income 83,770 57,246 7,614 148,630 - 148,630 General and administrative expenses - - - - (67,243 ) (67,243 ) Investment income - - - - 20,947 20,947 Net realized gain on investments - - - - (687 ) (687 ) Net unrealized loss on investments - - - - (5,512 ) (5,512 ) Change in allowance for expected credit losses on investments - - - - (361 ) (361 ) Change in allowance for expected credit losses on receivables - - - - (3,238 ) (3,238 ) Other revenues - - - - 2,442 2,442 Other expenses - - - - (3,961 ) (3,961 ) Change in fair value of derivative financial liabilities - - - - 4,603 4,603 Net foreign exchange loss - - - - (3,454 ) (3,454 ) Income (loss) before tax 83,770 57,246 7,614 148,630 (56,464 ) 92,166 Income tax expense - - - - (2,932 ) (2,932 ) Net income 83,770 57,246 7,614 148,630 (59,396 ) 89,234 Year Ended December 31, 2021 Specialty Specialty Reinsurance Sub Total Corporate Total USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 USD ’000 Underwriting revenues Gross written premiums 224,717 288,425 24,094 537,236 - 537,236 Ceded written premiums (56,683 ) (101,240 ) - (157,923 ) - (157,923 ) Net written premiums 168,034 187,185 24,094 379,313 - 379,313 Net change in unearned premiums (4,242 ) (35,168 ) (3,272 ) (42,682 ) - (42,682 ) Net premiums earned 163,792 152,017 20,822 336,631 - 336,631 Underwriting deductions Net policy acquisition expenses (29,881 ) (26,310 ) (3,431 ) (59,622 ) - (59,622 ) Net loss and loss adjustment expenses (84,662 ) (72,418 ) (15,959 ) (173,039 ) - (173,039 ) Underwriting income 49,249 53,289 1,432 103,970 - 103,970 General and administrative expenses - - - - (58,228 ) (58,228 ) Investment income - - - - 14,487 14,487 Net realized gain on investments - - - - 308 308 Net unrealized loss on investments - - - - (3,709 ) (3,709 ) Change in allowance for expected credit losses on investments - - - - (66 ) (66 ) Change in allowance for expected credit losses on receivables - - - - (3,262 ) (3,262 ) Other revenues - - - - 2,056 2,056 Other expenses - - - - (4,230 ) (4,230 ) Change in fair value of derivative financial liabilities - - - - 670 670 Net foreign exchange loss - - - - (3,368 ) (3,368 ) Income (loss) before tax 49,249 53,289 1,432 103,970 (55,342 ) 48,628 Income tax expense - - - - (1,814 ) (1,814 ) Net income 49,249 53,289 1,432 103,970 (57,156 ) 46,814
Schedule of Long-Lived Assets By Geographic Location	The table below presents long-lived assets by geographic location: December 31, December 31, USD ’000 USD ’000 Middle East 21,346 21,765 Africa 96 188 UK 1,839 2,482 Asia 17 8 Europe 458 20 North America 266 84 24,022 24,547
Schedule of Group’s Gross Written Premiums Based on the Location	The following summary presents the Group’s gross written premiums based on the location of the insured risk for the years ended December 31, 2023, 2022 and 2021 2023 2022 2021 USD ’000 USD ’000 USD ’000 Africa 33,312 32,700 27,325 Asia 71,685 54,697 54,962 Australasia 20,286 19,478 23,095 Caribbean Islands 27,904 30,446 29,781 Central America 26,740 25,338 27,735 Europe 83,614 51,746 48,034 Middle East 62,708 58,906 52,745 North America 89,610 61,661 32,272 South America 21,671 20,706 20,401 UK 195,504 190,019 194,075 Worldwide 55,644 36,286 26,811 Total 688,678 581,983 537,236

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation [Abstract]
Schedule of Share-Based Employee Compensation Plan	Under the Plan, the Group granted new restricted shares to designated employees, with the following salient features: 2020 Grant 2021 Grant 1 2021 Grant 2 2022 Grant 1 2022 Grant 2 2023 Grant 1 2023 Grant 2 Grant date October 7, 2020 February 16, 2021 March 31, 2021 February 9, 2022 March 24, 2022 February 8, 2023 March 23, 2023 First vesting date (tranche 1) January 2, 2021 January 2, 2022 January 2, 2022 January 2, 2023 January 2, 2023 January 2, 2024 January 2, 2024 Second vesting date (tranche 2) January 2, 2022 January 2, 2023 January 2, 2023 January 2, 2024 January 2, 2024 January 2, 2025 January 2, 2025 Third vesting date (tranche 3) January 2, 2023 January 2, 2024 January 2, 2024 January 2, 2025 January 2, 2025 January 2, 2026 January 2, 2026 Total number of restricted shares awards 134,500 180,000 132,190 279,000 149,377 379,000 129,808 Number of restricted shares awards vesting each period 44,833 60,000 44,063 93,000 49,792 126,333 43,269 Grant date fair value per share (USD) 7.90 7.94 8.17 7.76 7.23 8.30 8.32
Schedule of Restricted Shares Activity Under the Share-Based Compensation Plan	A summary of restricted shares activity under the share-based compensation plan for the year ended December 31, 2023 is as follows: Number of Weighted average Aggregate USD USD ’000 RSAs granted and unvested at beginning of year 667,181 7.74 5,161 Granted 508,808 8.30 4,223 Vested (298,859 ) 7.79 (2,327 ) RSAs granted and unvested at end of year 877,130 8.05 7,057

Statutory Information (Tables)

Statutory Information (Tables)	12 Months Ended
	Dec. 31, 2023
Statutory Information [Abstract]
Statutory Capital and Surplus for the Group’s Principal Operating Subsidiaries	The actual statutory capital and surplus for the Group’s principal operating subsidiaries at December 31, 2023 and 2022 is summarized as follows: Year Ended December 31, 2023 2022 USD ’000  USD ’000  Actual statutory capital and surplus Bermuda 548,714 413,790 United Kingdom 165,657 89,127 Labuan branch 33,321 29,373 Malta 22,732 8,239 Year Ended December 31, 2023 2022 2021 USD ’000  USD ’000  USD ’000  Statutory net income (loss) Bermuda 144,063 78,493 41,827 United Kingdom 27,147 11,077 8,631 Labuan branch 5,000 1,853 2,279 Malta 1,256 (579 ) (835 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Property and equipment	$ 20,499	$ 20,527
Net book value of property and equipment	$ 24,022	24,547
Estimated economic useful lives	5 years
Total cumulative foreign currency translation adjustments	$ 396	$ 423	$ 366

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments [Line Items]
Unrealized loss total estimated fair value	$ 448,981	$ 479,429
Gross unrealized losses	$ 2,684	(5,512)	$ (3,709)
Fixed-maturity securities, rate	76%
Investment rate	0.10%
Investments [Member]
Investments [Line Items]
Gross unrealized losses	$ 31,696	$ 49,061

Investments (Details) - Schedul

Investments (Details) - Schedule of Fixed Maturity Available-for-Sale Securities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Fixed Maturity Available-for-Sale Securities [Line Items]
Available for sale, Amortized Cost	$ 789,619	$ 538,311
Available for sale, Gross Unrealized Gains	8,020	26
Available for sale, Gross Unrealized Losses	(31,696)	(49,061)
Available for sale, Allowance for expected credit losses	(353)	(195)
Available for sale, Fair Value	765,590	489,081
Foreign Governments [Member]
Schedule of Fixed Maturity Available-for-Sale Securities [Line Items]
Available for sale, Amortized Cost	13,067	8,625
Available for sale, Gross Unrealized Gains	70	4
Available for sale, Gross Unrealized Losses	(738)	(607)
Available for sale, Allowance for expected credit losses
Available for sale, Fair Value	12,399	8,022
Corporate Bonds [Member]
Schedule of Fixed Maturity Available-for-Sale Securities [Line Items]
Available for sale, Amortized Cost	776,552	529,686
Available for sale, Gross Unrealized Gains	7,950	22
Available for sale, Gross Unrealized Losses	(30,958)	(48,454)
Available for sale, Allowance for expected credit losses	(353)	(195)
Available for sale, Fair Value	$ 753,191	$ 481,059

Investments (Details) - Sched_2

Investments (Details) - Schedule of Gross Unrealized Losses and Estimated Fair Value for Available-for-Sale Securities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Gross Unrealized Losses and Estimated Fair Value for Available-for-Sale Securities [Line Items]
Less than 12 months, Fair value	$ 38,929	$ 301,761
Less than 12 months, Gross unrealised loss	(517)	(24,038)
12 months or more, Fair value	410,052	177,668
12 months or more, Gross unrealised loss	(31,179)	(25,023)
Total, Fair value	448,981	479,429
Total, Gross unrealised loss	(31,696)	(49,061)
Foreign Governments [Member]
Schedule of Gross Unrealized Losses and Estimated Fair Value for Available-for-Sale Securities [Line Items]
Less than 12 months, Fair value		3,154
Less than 12 months, Gross unrealised loss		(178)
12 months or more, Fair value	8,152	4,666
12 months or more, Gross unrealised loss	(738)	(429)
Total, Fair value	8,152	7,820
Total, Gross unrealised loss	(738)	(607)
Corporate Bonds [Member]
Schedule of Gross Unrealized Losses and Estimated Fair Value for Available-for-Sale Securities [Line Items]
Less than 12 months, Fair value	38,929	298,607
Less than 12 months, Gross unrealised loss	(517)	(23,860)
12 months or more, Fair value	401,900	173,002
12 months or more, Gross unrealised loss	(30,441)	(24,594)
Total, Fair value	440,829	471,609
Total, Gross unrealised loss	$ (30,958)	$ (48,454)

Investments (Details) - Sched_3

Investments (Details) - Schedule of Contractual Maturities of the Company’s Fixed Maturity Available-for-Sale Securities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Contractual Maturities of the Company’s Fixed Maturity Available-for-Sale Securities [Abstract]
Due in one year or less, fair value	$ 78,459	$ 34,658
Due in one year or less, Amortized cost	79,334	35,742
Due after one you through to five years, fair value	515,337	362,368
Due after one you through to five years, Amortized cost	530,182	388,764
Due after five you through to ten years, fair value	100,801	64,409
Due after five you through to ten years, Amortized cost	103,933	75,576
Due after ten years, fair value	70,993	27,646
Due after ten years, Amortized cost	76,170	38,229
Total, fair value	765,590	489,081
Total, Amortized cost	$ 789,619	$ 538,311

Investments (Details) - Sched_4

Investments (Details) - Schedule of Allowance for Expected Credit Losses - Corporate Bonds [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Balance at beginning of year	$ 195
Additions for current year allowance for expected credit losses	158	195
Balance at end of year	$ 353	$ 195

Investments (Details) - Sched_5

Investments (Details) - Schedule of Investment Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investment Income [Abstract]
Interest income	$ 39,750	$ 20,381	$ 14,049
Dividends from other investments	236	144	78
Dividends from equities	752	571	705
Investment’s custodian fees and other investments expenses	(278)	(149)	(345)
Total investment income	$ 40,460	$ 20,947	$ 14,487

Investments (Details) - Sched_6

Investments (Details) - Schedule of Net Realized Gain (Loss) on Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Net Realized Gain (Loss) on Investments [Abstract]
Realized loss on sale of fixed maturity securities available-for-sale	$ (477)	$ (619)	$ (88)
Realized gain (loss) on sale of equity securities	7,200	(68)	396
Total net realized gain (loss) on investments	$ 6,723	$ (687)	$ 308

Investments (Details) - Sched_7

Investments (Details) - Schedule of Net Unrealized Gain (Loss) on Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Net Unrealized Gain Loss On Investments Abstract
Unrealized gain (loss) on equity securities	$ 3,080	$ (3,561)	$ 707
Unrealized gain (loss) on other investments	989	(2,225)	912
Unrealized (loss) gain on equity-method investments at fair value	(1,385)	274	(5,328)
Total net unrealized gain (loss) on investments	$ 2,684	$ (5,512)	$ (3,709)

Investments (Details) - Sched_8

Investments (Details) - Schedule of Change in Allowance for Expected Credit Losses on Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Change in Allowance for Expected Credit Losses on Investments [Abstract]
Change in allowance for expected credit losses for fixed maturity securities available-for-sale	$ (158)	$ (195)
Change in allowance for expected credit losses on fixed maturity securities held to maturity	526	(166)	(66)
Total change in allowance for expected credit losses on investments	$ 368	$ (361)	$ (66)

Receivables (Details)

Receivables (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Receivables [Abstract]
Total premiums receivable	$ 11,748

Receivables (Details) - Schedul

Receivables (Details) - Schedule of Premiums Receivable Net of Allowance for Expected Credit Losses - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Premiums Receivable Net of Allowance for Expected Credit Losses [Abstract]
Premiums receivable	$ 256,519	$ 219,487
Less: Allowance for expected credit losses	(11,302)	(9,085)
Total	$ 245,217	$ 210,402

Receivables (Details) - Sched_2

Receivables (Details) - Schedule of Allowance for Expected Credit Losses - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Receivables (Details) - Schedule of Allowance for Expected Credit Losses [Line Items]
Opening balance	$ 9,085	$ 5,804
Change in allowance for expected credit losses	2,372	3,275
Write-offs	(155)	6
Ending balance	11,302	9,085
Allowance for Expected Credit Losses [Member]
Receivables (Details) - Schedule of Allowance for Expected Credit Losses [Line Items]
Opening balance	3,954	3,990
Change in allowance for expected credit losses	80	(36)
Ending balance	$ 4,034	$ 3,954

Receivables (Details) - Sched_3

Receivables (Details) - Schedule of Reinsurance Recoverables Net of Allowance for Expected Credit Losses - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Reinsurance Recoverables Net of Allowance for Expected Credit Losses [Abstract]
Reinsurance recoverables on unpaid losses	$ 212,610	$ 189,125
Less: Allowance for expected credit losses	(361)	(325)
Total	212,249	188,800
Reinsurance recoverables on paid losses	14,507	9,241
Less: Allowance for expected credit losses	(3,673)	(3,629)
Total	10,834	5,612
Reinsurance recoverables	$ 223,083	$ 194,412

Receivables (Details) - Sched_4

Receivables (Details) - Schedule of Rated Carriers	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
% due from carriers rated “A-” or higher by major rating agencies [Member]
Related Party Transaction [Line Items]
Percentage of carriers rated	76%	85%
% due from all other rated carriers [Member]
Related Party Transaction [Line Items]
Percentage of carriers rated	24%	15%
% due from all other carriers with no rating by major rating agencies [Member]
Related Party Transaction [Line Items]
Percentage of carriers rated
Largest balance due from any one carrier as a % of total shareholders’ equity [Member]
Related Party Transaction [Line Items]
Percentage of carriers rated	8%	7%

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash [Abstract]
Restricted cash	$ 13,001	$ 10,800
Restricted deposit	$ 5,000	$ 5,000

Restricted Cash (Details) - Sch

Restricted Cash (Details) - Schedule of Reconciliation of Cash and Restricted Cash - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Reconciliation of Cash and Restricted Cash [Abstract]
Cash and cash equivalents	$ 177,022	$ 122,143
Restricted cash (included within other assets)	18,001	15,800
Total cash, cash equivalents and restricted cash	$ 195,023	$ 137,943

Reserves for Unpaid Loss and _3

Reserves for Unpaid Loss and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Reserves for Unpaid Loss and Loss Adjustment Expenses [Line Items]
Net increased		$ 228,381
Net losses decreased prior loss reserve	$ 39,294
Reinsurance book	3,186
Development on Prior Loss Reserves [Member]
Reserves for Unpaid Loss and Loss Adjustment Expenses [Line Items]
Reinsurance book	42,015
Long-Tail Business [Member]
Reserves for Unpaid Loss and Loss Adjustment Expenses [Line Items]
Reinsurance book	19,193
Short-Tail Business [Member]
Reserves for Unpaid Loss and Loss Adjustment Expenses [Line Items]
Reinsurance book	$ 16,915

Reserves for Unpaid Loss and _4

Reserves for Unpaid Loss and Loss Adjustment Expenses (Details) - Schedule of Table Represents an Analysis of Loss and Loss Adjustment Expenses - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Table Represents an Analysis of Loss and Loss Adjustment Expenses [Abstract]
Reserve for unpaid loss and loss adjustment expenses	$ 636,245	$ 577,650	$ 498,582
Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses	(188,800)	(182,124)	(188,738)
Net reserve for unpaid loss and loss adjustment expenses at beginning of year	447,445	395,526	309,844
Loss and loss adjustment expenses incurred, net of reinsurance:
Current accident year	228,381	199,577	193,811
Prior accident years	(39,294)	(42,015)	(20,772)
Total loss and loss adjustment expenses incurred, net of reinsurance	189,087	157,562	173,039
Loss and loss adjustment expenses paid, net of reinsurance:
Current accident year	(25,875)	(14,886)	(16,061)
Prior accident years	(110,844)	(90,721)	(71,247)
Total loss and loss adjustment expenses paid, net of reinsurance	(136,719)	(105,607)	(87,308)
Change in allowance for expected credit losses on reinsurance recoverables on unpaid loss and loss adjustment expenses	36	(36)	(49)
Net reserve for unpaid loss and loss adjustment expenses at end of year	499,849	447,445	395,526
Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses	212,249	188,800	182,124
Reserve for unpaid loss and loss adjustment expenses at end of year	$ 712,098	$ 636,245	$ 577,650

Reserves for Unpaid Loss and _5

Reserves for Unpaid Loss and Loss Adjustment Expenses (Details) - Schedule of Information about Incurred and Paid Claims Development - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 466,588
Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	217,671
Incurred Claims and Allocated Claim Adjustment Expense, Net	2,892
Incurred Claims and Allocated Claim Adjustment Expense, Net	251,809
Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	653,849
Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	457,605
Incurred Claims and Allocated Claim Adjustment Expense, Net	2,063
Incurred Claims and Allocated Claim Adjustment Expense, Net	198,307
Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	126,860
Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	77,985
Incurred Claims and Allocated Claim Adjustment Expense, Net	497
Incurred Claims and Allocated Claim Adjustment Expense, Net	49,372
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 11,455	$ 11,256	$ 11,396	$ 11,549	$ 11,825	$ 12,513	$ 10,013	$ 9,215	$ 8,443	$ 3,291
All outstanding liabilities prior to 2014, net of reinsurance	4
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 508
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	11,253	11,132	11,074	10,867	10,583	9,092	7,694	7,392	5,681	1,444
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 50,087	50,102	49,931	49,956	50,646	51,712	53,272	55,047	55,148	48,946
All outstanding liabilities prior to 2014, net of reinsurance	3
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,047
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	49,688	49,657	49,414	49,359	49,496	49,373	48,346	42,468	36,942	10,356
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 5,019	5,005	5,007	4,998	5,139	5,133	5,661	6,157	6,613	6,444
All outstanding liabilities prior to 2014, net of reinsurance	1
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 250
Short-Duration Insurance Contracts, Accident Year 2014 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	5,006	4,961	4,958	4,832	4,821	4,704	4,709	5,024	5,106	745
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 9,237	9,257	8,895	9,467	9,885	11,031	8,073	8,137	3,633
All outstanding liabilities prior to 2014, net of reinsurance	11
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 738
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	8,422	6,919	7,007	6,841	6,240	5,675	4,535	2,128	941
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 57,209	57,101	57,206	57,475	57,524	57,282	58,008	58,417	44,305
All outstanding liabilities prior to 2014, net of reinsurance	14
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 1,832
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	56,808	56,724	56,181	56,154	55,976	52,759	50,581	36,771	16,300
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 5,946	6,012	6,149	6,050	6,187	6,419	5,888	4,385	2,100
All outstanding liabilities prior to 2014, net of reinsurance	4
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 230
Short-Duration Insurance Contracts, Accident Year 2015 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	5,842	5,745	5,734	5,738	5,659	5,395	4,649	2,881	(178)
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 16,099	16,830	17,096	17,299	15,373	17,376	7,868	2,758
All outstanding liabilities prior to 2014, net of reinsurance	810
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 922
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	14,111	13,405	12,074	7,981	7,071	5,119	2,639	792
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 65,778	65,806	65,498	65,074	63,532	64,789	67,098	55,683
All outstanding liabilities prior to 2014, net of reinsurance
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,191
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	65,172	64,914	64,112	62,665	62,054	59,442	44,609	15,751
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 7,209	7,183	7,476	7,594	7,403	7,303	5,891	3,299
All outstanding liabilities prior to 2014, net of reinsurance	22
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 305
Short-Duration Insurance Contracts, Accident Year 2016 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	6,952	6,872	6,804	6,612	6,102	5,223	3,106	359
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 23,894	25,431	26,826	28,840	27,658	25,186	4,542
All outstanding liabilities prior to 2014, net of reinsurance	1,291
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 1,523
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	20,324	19,297	18,242	15,967	11,092	4,877	509
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 71,012	71,516	71,543	71,505	74,425	75,847	52,715
All outstanding liabilities prior to 2014, net of reinsurance	114
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,536
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	67,334	67,460	63,029	58,223	50,218	39,217	16,317
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 14,704	14,989	15,783	15,150	14,758	15,243	9,563
All outstanding liabilities prior to 2014, net of reinsurance	124
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 423
Short-Duration Insurance Contracts, Accident Year 2017 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	13,257	13,156	12,815	12,633	9,375	7,436	2,593
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 43,288	35,191	41,041	45,182	44,766	42,580
All outstanding liabilities prior to 2014, net of reinsurance	8,568
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,303
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	29,334	24,993	20,715	17,326	10,915	2,807
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 58,488	59,144	59,265	52,999	49,054	43,103
All outstanding liabilities prior to 2014, net of reinsurance	155
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,356
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	54,285	51,232	51,100	47,573	34,338	17,087
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 8,901	8,718	9,073	9,225	11,168	10,092
All outstanding liabilities prior to 2014, net of reinsurance	67
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 437
Short-Duration Insurance Contracts, Accident Year 2018 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	7,882	7,610	7,365	6,999	5,675	131
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 53,582	54,433	50,375	62,689	61,152
All outstanding liabilities prior to 2014, net of reinsurance	7,792
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 3,743
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	36,508	31,363	22,951	17,503	4,463
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 40,646	41,433	41,649	43,406	50,247
All outstanding liabilities prior to 2014, net of reinsurance	223
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,156
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	35,043	33,847	30,993	21,029	8,654
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 11,039	11,062	10,936	11,363	14,333
All outstanding liabilities prior to 2014, net of reinsurance	168
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 490
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	9,680	9,256	8,532	7,207	2,527
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 84,893	82,863	90,179	85,084
All outstanding liabilities prior to 2014, net of reinsurance	12,915
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 3,267
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	52,719	39,541	22,884	4,573
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 55,102	51,517	50,876	57,745
All outstanding liabilities prior to 2014, net of reinsurance	1,453
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 1,892
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	29,869	26,771	17,591	6,737
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 10,785	11,526	10,900	11,437
All outstanding liabilities prior to 2014, net of reinsurance	348
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 455
Short-Duration Insurance Contract, Accident Year 2020 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	5,240	4,304	3,123	97
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 61,989	78,749	100,084
All outstanding liabilities prior to 2014, net of reinsurance	22,989
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,394
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	24,693	14,775	4,519
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 60,008	64,493	74,394
All outstanding liabilities prior to 2014, net of reinsurance	3,200
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,080
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	43,704	29,782	10,396
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 20,346	19,628	17,788
All outstanding liabilities prior to 2014, net of reinsurance	1,274
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 431
Short-Duration Insurance Contract, Accident Year 2021 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	13,437	8,154	1,179
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 73,707	83,392
All outstanding liabilities prior to 2014, net of reinsurance	45,179
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,167
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	15,322	3,293
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 85,522	100,030
All outstanding liabilities prior to 2014, net of reinsurance	8,159
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,481
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	40,185	10,428
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 12,971	16,184
All outstanding liabilities prior to 2014, net of reinsurance	1,244
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 397
Short-Duration Insurance Contract, Accident Year 2022 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	5,316	951
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 88,444
All outstanding liabilities prior to 2014, net of reinsurance	74,112
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 2,138
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Long-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	4,985
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 109,997
All outstanding liabilities prior to 2014, net of reinsurance	64,895
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 1,851
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Specialty Short-tail [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	15,517
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Incurred Losses and Loss Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 29,940
All outstanding liabilities prior to 2014, net of reinsurance	16,349
Reserve for unpaid loss and loss adjustment expenses, net of reinsurance	$ 248
Short-Duration Insurance Contract, Accident Year 2023 [Member] | Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance – Reinsurance [Member]
Schedule of Information about Incurred and Paid Claims Development [Line Items]
Accident year	$ 5,373

Reserves for Unpaid Loss and _6

Reserves for Unpaid Loss and Loss Adjustment Expenses (Details) - Schedule of Unaudited Supplementary Information about the Average Annual Percentage	12 Months Ended
	Dec. 31, 2023
Year 1 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	32%
Specialty Short-tail	53%
Reinsurance	46%
Year 2 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	23%
Specialty Short-tail	25%
Reinsurance	23%
Year 3 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	17%
Specialty Short-tail	11%
Reinsurance	13%
Year 4 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	11%
Specialty Short-tail	6%
Reinsurance	7%
Year 5 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	7%
Specialty Short-tail	3%
Reinsurance	4%
Year 6 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	5%
Specialty Short-tail	1%
Reinsurance	3%
Year 7 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	3%
Specialty Short-tail	1%
Reinsurance	2%
Year 8 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	1%
Reinsurance	1%
Year 9 [Member]
Schedule of Unaudited Supplementary Information about the Average Annual Percentage [Line Items]
Specialty Long-tail	1%
Reinsurance	1%

Reserves for Unpaid Loss and _7

Reserves for Unpaid Loss and Loss Adjustment Expenses (Details) - Schedule of Reconciliation of the Net Incurred and Paid Loss Development $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Net outstanding liabilities
Specialty Long-tail	$ 251,809
Specialty Short-tail	198,307
Reinsurance	49,372
Reserve for unpaid loss and loss adjustment expenses	499,488
Allowance for expected credit losses on reinsurance recoverables	361
Reserve for unpaid loss and loss adjustment expenses, net of allowance	499,849
Reinsurance recoverable on unpaid loss and loss adjustment expenses
Specialty Long-tail	105,186
Specialty Short-tail	107,424
Reinsurance
Total reinsurance recoverable on unpaid loss and loss adjustment expenses	212,610
Allowance for expected credit losses on reinsurance recoverables	(361)
Total reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses	212,249
Total gross reserves for unpaid loss and loss adjustment expenses	$ 712,098

Premiums and Reinsurance Info_3

Premiums and Reinsurance Information (Details) - Schedule of Effect of Reinsurance Activity on Written and Earned Premiums and on Net Loss and Loss Adjustment Expenses - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Written premiums:
Direct	$ 348,418	$ 301,291	$ 267,451
Assumed	340,260	280,692	269,785
Ceded	(191,465)	(189,158)	(157,923)
Net	497,213	392,825	379,313
Earned premiums:
Direct	321,556	284,436	251,672
Assumed	313,458	272,067	234,914
Ceded	(187,862)	(180,112)	(149,955)
Net	447,152	376,391	336,631
Loss and loss adjustment expense:
Direct	141,092	112,078	128,730
Assumed	122,688	123,128	70,056
Ceded	(74,693)	(77,644)	(25,747)
Net	$ 189,087	$ 157,562	$ 173,039

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Net of Ceding Commissions (Details) - Schedule of Deferred Policy Acquisition Costs Net of Ceding Commissions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Deferred Policy Acquisition Costs Net of Ceding Commissions [Abstract]
Balance at beginning of year	$ 57,941	$ 56,767	$ 49,452
Acquisition costs deferred	82,307	71,373	66,937
Amortization of deferred acquisition costs	(74,976)	(70,199)	(59,622)
Balance at end of year	$ 65,272	$ 57,941	$ 56,767

Leases (Details)

Leases (Details)	Dec. 31, 2023	Dec. 31, 2022
Lease [Line Items]
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Operating lease liability	Operating lease liability
Minimum [Member]
Lease [Line Items]
Remaining lease term	2 years
Maximum [Member]
Lease [Line Items]
Remaining lease term	9 years

Leases (Details) - Schedule of

Leases (Details) - Schedule of Operating Leases - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Operating Leases [Abstract]
Cash payments included in the measurement of lease liabilities in operating cash flows	$ 913	$ 1,035
Cash payments included in the measurement of lease liabilities in financing cash flows	35	7
Right-of-use assets	2,083	2,614
Operating lease liability	2,133	2,663
Operating lease charge	$ 771	$ 963
Weighted average discount rate (%)	4.30%	4%
Weighted average remaining lease term (years)	3 years 6 months	3 years 2 months 12 days

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Contractual Maturities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Contractual Maturities [Abstract]
2024	$ 966
2025	774
2026	348
2027	83
2028 and after	306
Total undiscounted lease liability	2,477
Less: present value adjustment	(344)
Operating lease liability	$ 2,133	$ 2,663

Derivative Financial Liabilit_3

Derivative Financial Liabilities (Details) - $ / shares			12 Months Ended
	Dec. 13, 2023	Jul. 28, 2023	Dec. 31, 2023
Derviative Financial Liability [Line Items]
Price per warrant		$ 0.95
Expiration date		Sep. 19, 2023
Warrant per share		$ 0.86
Public warrants			702,400
Private warrants			4,500,000
Per share warrant			$ 0.86
Earnout shares	1,400,000
Note Warrant [Member]
Derviative Financial Liability [Line Items]
Issuance of warrant			17,250,000
Description of warrant issued			(i) 12,750,000 warrants issued to former stockholders of Tiberius (the “Public Warrants”) and (ii) 4,500,000 warrants that were issued in exchange for 4,500,000 Tiberius warrants transferred to former shareholders of IGI (the “Private Warrants”).
Minimum [Member]
Derviative Financial Liability [Line Items]
Stock prices			$ 11.5
Maximum [Member]
Derviative Financial Liability [Line Items]
Stock prices			$ 15.25
Warrant [Member]
Derviative Financial Liability [Line Items]
Public warrants			12,047,600

Derivative Financial Liabilit_4

Derivative Financial Liabilities (Details) - Schedule of Impact of this Transaction $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Schedule of Impact of this Transaction [Abstract]
Fair value loss	$ (6,453)
Gain on derecognition of warrants	134
Total amount recognised in consolidated statement of income in change in fair value of derivative financial liabilities	$ (6,319)

Derivative Financial Liabilit_5

Derivative Financial Liabilities (Details) - Schedule of Exercise of Warrants Outstanding $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Public warrants [Member]
Schedule of Exercise of Warrants Outstanding [Line Items]
Number of shares | shares	12,750,000
Exercise price | $ / shares	$ 11.5
Redemption price | $ / shares	$ 18
Expiration date	Mar. 17, 2025
Classification	Liability
Fair value gain | $	$ 2,168
Fair value | $	$ 7,395
Private warrants [Member]
Schedule of Exercise of Warrants Outstanding [Line Items]
Number of shares | shares	4,500,000
Exercise price | $ / shares	$ 11.5
Redemption price | $ / shares	$ 18
Expiration date	Mar. 17, 2025
Classification	Liability
Fair value gain | $	$ 765
Fair value | $	$ 2,610

Derivative Financial Liabilit_6

Derivative Financial Liabilities (Details) - Schedule of Fair Value of the Earnout Shares - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Fair Value of the Sponsor Earn-Out Shares [Abstract]
Stock price (USD) (in Dollars per share)	$ 12.88	$ 8
Expected volatility (%)	25%	27.50%
Risk free rate (%)	3.91%	3.98%
Expected term (in years)	4 years 2 months 15 days	5 years 2 months 15 days
Expected dividends (%)	0.31%	0.50%

Derivative Financial Liabilit_7

Derivative Financial Liabilities (Details) - Schedule of Movement on the Earnout Shares - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Movement on the Earn-Out Shares [Abstract]
Fair value of Earnout Shares at the beginning of the year	$ 13,800	$ 15,470
Change in fair value	20,970	(1,670)
Transfer of the vested Earnout Shares to equity	(17,480)
Fair value of Earnout Shares at the end of year	$ 17,290	$ 13,800

Commitments, Contingencies an_2

Commitments, Contingencies and Other Items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments, Contingencies and Other Items [Line Items]
Aggregate investment portfolio	5%
Collateralizing insurance contract liabilities	$ 1,826	$ 2,917
Percentage of collateralized investment	70%
Investments amount	$ 11,060	12,237
Guarantee amount	307	292
Contribute amount			$ 1,250
Instalments over years			5 years
Group paid	1,101		$ 146
Instalments amount	500
Investments [Member]
Commitments, Contingencies and Other Items [Line Items]
Investments amount	2,608	$ 4,167
San Francisco Foundation [Member]
Commitments, Contingencies and Other Items [Line Items]
Group paid	$ 750

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	May 23, 2022
Shareholders' Equity [Line Items]
Common shares authorized	750,000,000	750,000,000
Common shares par value (in Dollars per share)	$ 0.01	$ 0.01
Preference share	100,000,000
Preference shares par value (in Dollars per share)	$ 0.01
Share capital	44,500,879	46,013,309
Common shares	44,500,879	46,013,309
Issued and outstanding common shares (in Dollars)	$ 445	$ 460	$ 5,000
Authorization of an aggregate (in Dollars)			$ 5,000
Common Stock [Member]
Shareholders' Equity [Line Items]
Common shares	39,200
Common Stock [Member]
Shareholders' Equity [Line Items]
Common shares authorized	750,000,000
Common shares	43,584,549	45,306,928

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Common Stock [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding [Line Items]
Number of shares, Common shares		43,584,549	45,306,928
Par value , Common shares		$ 436	$ 453
Earnout Shares [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding [Line Items]
Number of shares, Earnout Shares	[1]	39,200	39,200
Par value, Earnout Shares	[1]
Common shares under share-based compensation plan [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding [Line Items]
Number of shares, Common shares under share-based compensation plan		877,130	667,181
Par value, Common shares under share-based compensation plan		$ 9	$ 7
Common Stock Issued and Outstanding [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding [Line Items]
Number of shares, Common stock issued and outstanding		44,500,879	46,013,309
Par value, Common stock issued and outstanding		$ 445	$ 460
[1]Earnout Shares are considered outstanding shares and have dividend and voting rights, however, the Earnout Shares are non-transferable by their holders until they vest and, if the Earnout Shares do not vest on or prior to March 17, 2028, they will be cancelled by the Company.

Shareholders' Equity (Details_2

Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Common Stock [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding (Parentheticals) [Line Items]
Par value, Common shares par value	$ 0.01	$ 0.01
Earnout Shares [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding (Parentheticals) [Line Items]
Par value , Earnout Shares par value	0.01	0.01
Common shares under share-based compensation plan [Member]
Shareholders' Equity (Details) - Schedule of Common Shares Issued and Outstanding (Parentheticals) [Line Items]
Par value, Common shares under share-based compensation plan par value	$ 0.01	$ 0.01

Shareholders' Equity (Details_3

Shareholders' Equity (Details) - Schedule of Illustrates the Movement on the Treasury Shares - Treasury Shares [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Number of shares, beginning balance	1,668
Par value, beginning balance	$ 14
Number of shares, purchases	3,421,238	310,542
Par value, purchases	$ 31,090	$ 2,394
Number of shares, cancellation	(3,419,106)	(308,874)
Par value, cancellation	$ (31,055)	$ (2,380)
Number of shares, ending balance	3,800	1,668
Par value, ending balance	$ 49	$ 14

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Accumulated Other Comprehensive Income (Loss) [Abstract]
Unrealized gains (losses) on fixed maturity securities arising during the year, net of taxes	$ 23,856	$ (48,454)	$ (9,891)
Reclassification of net realized losses included in net income	(477)	(619)	(88)
Foreign currency translation adjustments	27	(57)	(16)
Other comprehensive income (loss)	$ 23,406	$ (49,130)	$ (9,995)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of Comprehensive Income (Loss) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Realized gains and losses on securities:
Net realized investment losses	$ (538)	$ (627)	$ (120)
Income tax benefit	61	8	32
Net of taxes	$ (477)	$ (619)	$ (88)

Taxation (Details)

Taxation (Details) $ in Thousands, € in Millions			12 Months Ended
	Dec. 27, 2023	Apr. 01, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Taxation [Line Items]
Corporation tax rate percentage	15%	19%
General insurance standard rate percentage			35%	35%
Audited net income percentage			3%
Regional offices tax rate			10%	10%
Operating cost percentage			5%
Standard rate percentage			25%	25%
Operating losses (in Dollars)			$ (345,912)		$ (305,657)	$ (301,749)
Income tax payable (in Dollars)			2,854
Minimum [Member]
Taxation [Line Items]
Corporation tax rate percentage		19%
Maximum [Member]
Taxation [Line Items]
Corporation tax rate percentage		25%
MALTA
Taxation [Line Items]
Operating losses (in Dollars)			$ 217		$ 1,138
UK [Member]
Taxation [Line Items]
Corporation tax rate percentage		25%
MNE Group [Member]
Taxation [Line Items]
Annual revenue amount (in Euro) | €				€ 750

Taxation (Details) - Schedule o

Taxation (Details) - Schedule of Company’s Income (Loss) Before Taxes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Domestic:
Income before taxes	$ 126,048	$ 92,166	$ 48,628
Bermuda [Member]
Domestic:
Income before taxes	91,769	72,827	37,423
U.K. [Member]
Domestic:
Income before taxes	28,494	17,029	11,493
Other [Member]
Domestic:
Income before taxes	$ 5,785	$ 2,310	$ (288)

Taxation (Details) - Schedule_2

Taxation (Details) - Schedule of Income Tax Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax expense (benefit):
Current income tax charge	$ 6,401	$ 3,261	$ 2,179
Amounts in respect of prior years	12	(22)	97
Deferred tax expense:
Origination and reversal of temporary differences	1,165	(310)	(462)
Amounts in respect of prior years	276	3
Income tax expense for the year	$ 7,854	$ 2,932	$ 1,814

Taxation (Details) - Schedule_3

Taxation (Details) - Schedule of Reconciliation Tax Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Reconciliation Tax Expense [Abstract]
Foreign statutory tax rates differential	$ 7,825	$ 3,027	$ 1,838
Non-deductible expenses	60	73	80
Other	(31)	(168)	(104)
Income tax expense (benefit) for the year	$ 7,854	$ 2,932	$ 1,814

Taxation (Details) - Schedule_4

Taxation (Details) - Schedule of Deferred Income Tax Assets and Liabilities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Operating loss carryforwards	$ 76	$ 398
Foreign exchange valuations		334
Allowance for expected credit losses	363	175
Unrealized losses on investments	3,961	4,877
Other deferred tax assets	171	4
Total deferred tax assets	4,571	5,788
Deferred tax liabilities:
Foreign exchange valuations	(220)
Other deferred tax valuation	(194)
Total deferred tax liabilities	(414)
Net deferred tax asset	$ 4,157	$ 5,788

Taxation (Details) - Schedule_5

Taxation (Details) - Schedule of Income Tax Payable	12 Months Ended
	Dec. 31, 2023
UK [Member]
Income Tax Contingency [Line Items]
Major tax jurisdictions	2023
Minimum [Member] | Malta [Member]
Income Tax Contingency [Line Items]
Major tax jurisdictions	2021
Maximum [Member] | Malta [Member]
Income Tax Contingency [Line Items]
Major tax jurisdictions	2023

Fair Value (Details)

Fair Value (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value [Line Items]
Equity security investment	$ 6,990
Fair Value, Inputs, Level 2 [Member]
Fair Value [Line Items]
Available-for-sale	58,764
Fair Value, Inputs, Level 1 [Member]
Fair Value [Line Items]
Available-for-sale	$ 52,494

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of the Assets and Liabilities that are Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Assets measured at fair value:
Fair value	$ 806,380	$ 537,635
Foreign governments [Member]
Assets measured at fair value:
Fair value	12,399	8,022
Corporate Bonds [Member]
Assets measured at fair value:
Fair value	753,191	481,059
Fixed maturity available for sale securities [Member]
Assets measured at fair value:
Fair value	765,590	489,081
Equity Securities [Member]
Assets measured at fair value:
Fair value	26,208	31,410
Other Investments [Member]
Assets measured at fair value:
Fair value	11,060	12,237
Equity-method investments measured at fair value [Member]
Assets measured at fair value:
Fair value	3,522	4,907
Derivative financial liabilities (Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)	17,290
Derivative financial liabilities (Warrants and Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)		23,805
Level 1 [Member]
Assets measured at fair value:
Fair value	269,839	125,012
Level 1 [Member] | Foreign governments [Member]
Assets measured at fair value:
Fair value	2,915	1,235
Level 1 [Member] | Corporate Bonds [Member]
Assets measured at fair value:
Fair value	240,716	99,731
Level 1 [Member] | Fixed maturity available for sale securities [Member]
Assets measured at fair value:
Fair value	243,631	100,966
Level 1 [Member] | Equity Securities [Member]
Assets measured at fair value:
Fair value	26,208	24,046
Level 1 [Member] | Other Investments [Member]
Assets measured at fair value:
Fair value
Level 1 [Member] | Equity-method investments measured at fair value [Member]
Assets measured at fair value:
Fair value
Level 1 [Member] | Derivative financial liabilities (Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)
Level 1 [Member] | Derivative financial liabilities (Warrants and Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)
Level 2 [Member]
Assets measured at fair value:
Fair value	533,019	400,352
Level 2 [Member] | Foreign governments [Member]
Assets measured at fair value:
Fair value	9,484	6,787
Level 2 [Member] | Corporate Bonds [Member]
Assets measured at fair value:
Fair value	512,475	381,328
Level 2 [Member] | Fixed maturity available for sale securities [Member]
Assets measured at fair value:
Fair value	521,959	388,115
Level 2 [Member] | Equity Securities [Member]
Assets measured at fair value:
Fair value
Level 2 [Member] | Other Investments [Member]
Assets measured at fair value:
Fair value	11,060	12,237
Level 2 [Member] | Equity-method investments measured at fair value [Member]
Assets measured at fair value:
Fair value
Level 2 [Member] | Derivative financial liabilities (Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)
Level 2 [Member] | Derivative financial liabilities (Warrants and Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)		10,005
Level 3 [Member]
Assets measured at fair value:
Fair value	3,522	12,271
Level 3 [Member] | Foreign governments [Member]
Assets measured at fair value:
Fair value
Level 3 [Member] | Corporate Bonds [Member]
Assets measured at fair value:
Fair value
Level 3 [Member] | Fixed maturity available for sale securities [Member]
Assets measured at fair value:
Fair value
Level 3 [Member] | Equity Securities [Member]
Assets measured at fair value:
Fair value		7,364
Level 3 [Member] | Other Investments [Member]
Assets measured at fair value:
Fair value
Level 3 [Member] | Equity-method investments measured at fair value [Member]
Assets measured at fair value:
Fair value	3,522	4,907
Level 3 [Member] | Derivative financial liabilities (Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)	$ 17,290
Level 3 [Member] | Derivative financial liabilities (Warrants and Earnout Shares) [Member]
Liabilities measured at fair value:
Derivative financial liabilities (Earnout Shares)		$ 13,800

Fair Value (Details) - Schedu_2

Fair Value (Details) - Schedule of Quantitative Information Regarding the Significant Unobservable Inputs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity-method investments measured at fair value [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)	$ 3,522	$ 4,907
Valuation Technique	Adjusted net asset value (“NAV”) approach	“Adjusted net asset value (“NAV”) approach”
Unobservable Inputs	Sale price (per square meter) of the underlying properties owned by the investees	Sale price (per square meter) of the underlying properties owned by the investees
Derivative financial liabilities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)	$ 17,290	$ 13,800
Valuation Technique	Monte Carlo Simulation approach	Monte Carlo Simulation approach
Unobservable Inputs	Volatility of IGI’s share price	Volatility of IGI’s share price
Equities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)		$ 6,990
Valuation Technique		Multiples based valuation approach
Unobservable Inputs		Enterprise value to earnings before interest, tax, depreciation and amortization
Equities One [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)
Valuation Technique
Unobservable Inputs		Price to earnings
Equities Two [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)
Valuation Technique
Unobservable Inputs		Price to book value of shares
Equities Three [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Fair Value (Level 3) (in Dollars)		$ 374
Valuation Technique		Multiples based valuation approach
Unobservable Inputs		Enterprise value to sale multiple
Minimum [Member] | Equity-method investments measured at fair value [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments
Minimum [Member] | Derivative financial liabilities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments	20%	25%
Minimum [Member] | Equities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		7.90%
Minimum [Member] | Equities One [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		10.30%
Minimum [Member] | Equities Two [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.10%
Minimum [Member] | Equities Three [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.10%
Maximum [Member] | Equity-method investments measured at fair value [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments
Maximum [Member] | Derivative financial liabilities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments	30%	30%
Maximum [Member] | Equities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		8.70%
Maximum [Member] | Equities One [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		11.40%
Maximum [Member] | Equities Two [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.20%
Maximum [Member] | Equities Three [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.70%
Weighted Average [Member] | Equity-method investments measured at fair value [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments
Weighted Average [Member] | Derivative financial liabilities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments	25%	27.50%
Weighted Average [Member] | Equities [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		8.30%
Weighted Average [Member] | Equities One [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		10.90%
Weighted Average [Member] | Equities Two [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.10%
Weighted Average [Member] | Equities Three [Member]
Schedule of Quantitative Information Regarding the Significant Unobservable Inputs [Line Items]
Percentage of equity method investments		1.40%

Fair Value (Details) - Schedu_3

Fair Value (Details) - Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity Securities [Member]
Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis [Line Items]
Balance at beginning of year	$ 7,364	$ 7,046
Year Ended December 31, 2022
Change in fair value included in earnings	(374)	318
Vesting of Earnout Shares
Transfer in and/or out of Level 3	(6,990)
Balance at end of year		7,364
Equity method investees [Member]
Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis [Line Items]
Balance at beginning of year	4,907	4,633
Year Ended December 31, 2022
Change in fair value included in earnings	(1,385)	274
Vesting of Earnout Shares
Transfer in and/or out of Level 3
Balance at end of year	3,522	4,907
Derivative financial liabilities (Earnout Shares) [Member]
Schedule of Financial Assets and Liabilities Measured At Fair Value on a Recurring Basis [Line Items]
Balance at beginning of year	(13,800)	(15,470)
Year Ended December 31, 2022
Change in fair value included in earnings	(20,970)	1,670
Vesting of Earnout Shares	17,480
Transfer in and/or out of Level 3
Balance at end of year	$ (17,290)	$ (13,800)

Earnings Per Share (Details)

Earnings Per Share (Details)	Dec. 31, 2023 shares
Earnings Per Share [Abstract]
Unvested earn out outstanding shares	1,612,500

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of the Income and Share Data Used in the Basic and Diluted Earnings Per Share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of the Income and Share Data Used in the Basic and Diluted Earnings Per Share [Abstract]
Net Income	$ 118,194	$ 89,234	$ 46,814
Less: net income attributable to the Earnout Shares	(7,469)	(4,906)	(1,968)
Less: dividends attributable to the common shares under share-based compensation plan	(30)	(147)	(131)
Net income available to common shareholders	$ 110,695	$ 84,181	$ 44,715
Weighted average number of shares – basic (in Shares)	42,943,535	45,546,262	45,470,957
Common shares under share-based compensation plan	$ 525,341	$ 120,872	$ 70,060
Weighted average number of shares – diluted (in Shares)	43,468,876	45,667,134	45,541,017
Basic earnings per share (in Dollars per share)	$ 2.58	$ 1.85	$ 0.98
Diluted earnings per share (in Dollars per share)	$ 2.55	$ 1.84	$ 0.98

Segment Information (Details) -

Segment Information (Details) - Schedule of Group’s Consolidated Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Underwriting revenues
Gross written premiums	$ 688,678	$ 581,983	$ 537,236
Ceded written premiums	(191,465)	(189,158)	(157,923)
Net written premiums	497,213	392,825	379,313
Net change in unearned premiums	(50,061)	(16,434)	(42,682)
Net premiums earned	447,152	376,391	336,631
Underwriting deductions
Net policy acquisition expenses	(74,976)	(70,199)	(59,622)
Net loss and loss adjustment expenses	(189,087)	(157,562)	(173,039)
Underwriting income	183,089	148,630	103,970
General and administrative expenses	(78,927)	(67,243)	(58,228)
Investment income	40,460	20,947	14,487
Net realized gain on investments	6,723	(687)	308
Net unrealized gain (loss) on investments	2,684	(5,512)	(3,709)
Change in allowance for expected credit losses on investments	368	(361)	(66)
Change in allowance for expected credit losses on receivables	(2,452)	(3,238)	(3,262)
Other revenues	1,862	2,442	2,056
Other expenses	(5,594)	(3,961)	(4,230)
Change in fair value of derivative financial liabilities	(27,289)	4,603	670
Net foreign exchange gain (loss)	5,124	(3,454)	(3,368)
Income (loss) before tax	126,048	92,166	48,628
Income tax expense	(7,854)	(2,932)	(1,814)
Net income	118,194	89,234	46,814
Specialty Long-tail [Member]
Underwriting revenues
Gross written premiums	226,862	233,046	224,717
Ceded written premiums	(73,900)	(65,555)	(56,683)
Net written premiums	152,962	167,491	168,034
Net change in unearned premiums	4,760	(125)	(4,242)
Net premiums earned	157,722	167,366	163,792
Underwriting deductions
Net policy acquisition expenses	(31,160)	(33,066)	(29,881)
Net loss and loss adjustment expenses	(69,250)	(50,530)	(84,662)
Underwriting income	57,312	83,770	49,249
General and administrative expenses
Investment income
Net realized gain on investments
Net unrealized gain (loss) on investments
Change in allowance for expected credit losses on investments
Change in allowance for expected credit losses on receivables
Other revenues
Other expenses
Change in fair value of derivative financial liabilities
Net foreign exchange gain (loss)
Income (loss) before tax	57,312	83,770	49,249
Income tax expense
Net income	57,312	83,770	49,249
Specialty Short-tail [Member]
Underwriting revenues
Gross written premiums	400,682	317,412	288,425
Ceded written premiums	(117,565)	(123,603)	(101,240)
Net written premiums	283,117	193,809	187,185
Net change in unearned premiums	(46,925)	(15,096)	(35,168)
Net premiums earned	236,192	178,713	152,017
Underwriting deductions
Net policy acquisition expenses	(35,997)	(31,525)	(26,310)
Net loss and loss adjustment expenses	(93,085)	(89,942)	(72,418)
Underwriting income	107,110	57,246	53,289
General and administrative expenses
Investment income
Net realized gain on investments
Net unrealized gain (loss) on investments
Change in allowance for expected credit losses on investments
Change in allowance for expected credit losses on receivables
Other revenues
Other expenses
Change in fair value of derivative financial liabilities
Net foreign exchange gain (loss)
Income (loss) before tax	107,110	57,246	53,289
Income tax expense
Net income	107,110	57,246	53,289
Reinsurance [Member]
Underwriting revenues
Gross written premiums	61,134	31,525	24,094
Ceded written premiums
Net written premiums	61,134	31,525	24,094
Net change in unearned premiums	(7,896)	(1,213)	(3,272)
Net premiums earned	53,238	30,312	20,822
Underwriting deductions
Net policy acquisition expenses	(7,819)	(5,608)	(3,431)
Net loss and loss adjustment expenses	(26,752)	(17,090)	(15,959)
Underwriting income	18,667	7,614	1,432
General and administrative expenses
Investment income
Net realized gain on investments
Net unrealized gain (loss) on investments
Change in allowance for expected credit losses on investments
Change in allowance for expected credit losses on receivables
Other revenues
Other expenses
Change in fair value of derivative financial liabilities
Net foreign exchange gain (loss)
Income (loss) before tax	18,667	7,614	1,432
Income tax expense
Net income	18,667	7,614	1,432
Sub Total [Member]
Underwriting revenues
Gross written premiums	688,678	581,983	537,236
Ceded written premiums	(191,465)	(189,158)	(157,923)
Net written premiums	497,213	392,825	379,313
Net change in unearned premiums	(50,061)	(16,434)	(42,682)
Net premiums earned	447,152	376,391	336,631
Underwriting deductions
Net policy acquisition expenses	(74,976)	(70,199)	(59,622)
Net loss and loss adjustment expenses	(189,087)	(157,562)	(173,039)
Underwriting income	183,089	148,630	103,970
General and administrative expenses
Investment income
Net realized gain on investments
Net unrealized gain (loss) on investments
Change in allowance for expected credit losses on investments
Change in allowance for expected credit losses on receivables
Other revenues
Other expenses
Change in fair value of derivative financial liabilities
Net foreign exchange gain (loss)
Income (loss) before tax	183,089	148,630	103,970
Income tax expense
Net income	183,089	148,630	103,970
Corporate and Other [Member]
Underwriting revenues
Gross written premiums
Ceded written premiums
Net written premiums
Net change in unearned premiums
Net premiums earned
Underwriting deductions
Net policy acquisition expenses
Net loss and loss adjustment expenses
Underwriting income
General and administrative expenses	(78,927)	(67,243)	(58,228)
Investment income	40,460	20,947	14,487
Net realized gain on investments	6,723	(687)	308
Net unrealized gain (loss) on investments	2,684	(5,512)	(3,709)
Change in allowance for expected credit losses on investments	368	(361)	(66)
Change in allowance for expected credit losses on receivables	(2,452)	(3,238)	(3,262)
Other revenues	1,862	2,442	2,056
Other expenses	(5,594)	(3,961)	(4,230)
Change in fair value of derivative financial liabilities	(27,289)	4,603	670
Net foreign exchange gain (loss)	5,124	(3,454)	(3,368)
Income (loss) before tax	(57,041)	(56,464)	(55,342)
Income tax expense	(7,854)	(2,932)	(1,814)
Net income	$ (64,895)	$ (59,396)	$ (57,156)

Segment Information (Details)_2

Segment Information (Details) - Schedule of Long-Lived Assets By Geographic Location - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	$ 24,022	$ 24,547
Middle East [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	21,346	21,765
Africa [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	96	188
UK [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	1,839	2,482
Asia [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	17	8
Europe [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	458	20
North America [Member]
Schedule of Long-Lived Assets By Geographic Location [Line Items]
Long-lived assets by geographic location	$ 266	$ 84

Segment Information (Details)_3

Segment Information (Details) - Schedule of Group’s Gross Written Premiums Based on the Location - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	$ 688,678	$ 581,983	$ 537,236
Africa [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	33,312	32,700	27,325
Asia [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	71,685	54,697	54,962
Australasia [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	20,286	19,478	23,095
Caribbean Islands [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	27,904	30,446	29,781
Central America [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	26,740	25,338	27,735
Europe [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	83,614	51,746	48,034
Middle East [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	62,708	58,906	52,745
North America [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	89,610	61,661	32,272
South America [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	21,671	20,706	20,401
UNITED KINGDOM
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	195,504	190,019	194,075
Worldwide [Member]
Schedule of Group’s Gross Written Premiums Based on the Location [Line Items]
Total	$ 55,644	$ 36,286	$ 26,811

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation [Abstract]
Share-based compensation expense	$ 3,249,000	$ 2,300
Restricted stock awards granted (in Dollars per share)	$ 8.3	$ 7.58
Restricted share awards	$ 2,327,000	$ 1,171,000
Unrecognized compensation expense	$ 3,920,000
Expected recognized years	3 years

Share-Based Compensation (Det_2

Share-Based Compensation (Details) - Schedule of Share-Based Employee Compensation Plan	12 Months Ended
	Dec. 31, 2023 $ / shares shares
2020 Grant [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	134,500
Number of restricted shares awards vesting each period	44,833
Grant date fair value per share (USD) | $ / shares	$ 7.9
2020 Grant [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Oct. 07, 2020
2020 Grant [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2021
2020 Grant [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2022
2020 Grant [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2023
2021 Grant 1 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	180,000
Number of restricted shares awards vesting each period	60,000
Grant date fair value per share (USD) | $ / shares	$ 7.94
2021 Grant 1 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Feb. 16, 2021
2021 Grant 1 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2022
2021 Grant 1 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2023
2021 Grant 1 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2021 Grant 2 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	132,190
Number of restricted shares awards vesting each period	44,063
Grant date fair value per share (USD) | $ / shares	$ 8.17
2021 Grant 2 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Mar. 31, 2021
2021 Grant 2 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2022
2021 Grant 2 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2023
2021 Grant 2 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2022 Grant 1 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	279,000
Number of restricted shares awards vesting each period	93,000
Grant date fair value per share (USD) | $ / shares	$ 7.76
2022 Grant 1 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Feb. 09, 2022
2022 Grant 1 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2023
2022 Grant 1 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2022 Grant 1 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2025
2022 Grant 2 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	149,377
Number of restricted shares awards vesting each period	49,792
Grant date fair value per share (USD) | $ / shares	$ 7.23
2022 Grant 2 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Mar. 24, 2022
2022 Grant 2 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2023
2022 Grant 2 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2022 Grant 2 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2025
2023 Grant 1 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	379,000
Number of restricted shares awards vesting each period	126,333
Grant date fair value per share (USD) | $ / shares	$ 8.3
2023 Grant 1 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Feb. 08, 2023
2023 Grant 1 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2023 Grant 1 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2025
2023 Grant 1 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2026
2023 Grant 2 [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Total number of restricted shares awards	129,808
Number of restricted shares awards vesting each period	43,269
Grant date fair value per share (USD) | $ / shares	$ 8.32
2023 Grant 2 [Member] | Grant date [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Mar. 23, 2023
2023 Grant 2 [Member] | First vesting date (tranche 1) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2024
2023 Grant 2 [Member] | Second vesting date (tranche 2) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2025
2023 Grant 2 [Member] | Third vesting date (tranche 3) [Member]
Schedule of Board of Directors Approved Share-Based Employee Compensation Plan [Line Items]
Vesting date	Jan. 02, 2026

Share-Based Compensation (Det_3

Share-Based Compensation (Details) - Schedule of Restricted Shares Activity Under the Share-Based Compensation Plan - Restricted Stock [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation (Details) - Schedule of Restricted Shares Activity Under the Share-Based Compensation Plan [Line Items]
Number of shares, RSAs granted and unvested at beginning of year | shares	667,181
Weighted average Grant date fair value per share, RSAs granted and unvested at beginning of year | $ / shares	$ 7.74
Aggregate value, RSAs granted and unvested at beginning of year | $	$ 5,161
Number of shares, Granted | shares	508,808
Weighted average Grant date fair value per share, Granted | $ / shares	$ 8.3
Aggregate value, Granted | $	$ 4,223
Number of shares, Vested | shares	(298,859)
Weighted average Grant date fair value per share, Vested | $ / shares	$ 7.79
Aggregate value, Vested | $	$ (2,327)
Number of shares, RSAs granted and unvested at end of year | shares	877,130
Weighted average Grant date fair value per share, RSAs granted and unvested at end of year | $ / shares	$ 8.05
Aggregate value, RSAs granted and unvested at end of year | $	$ 7,057

Statutory Information (Details)

Statutory Information (Details)		12 Months Ended
	Jan. 01, 2016	Dec. 31, 2023
Statutory Information (Details) [Line Items]
Total statutory capital and surplus		25%
United Kingdom [Member]
Statutory Information (Details) [Line Items]
Confidence of the ability	Since 1 January 2016 the Company has been subject to the Solvency II regime and is required to meet a Solvency Coverage Ratio (“SCR”) which is calibrated to seek to ensure a 99.5% confidence of the ability to meet its obligations over a 12-month time horizon
Malta [Member]
Statutory Information (Details) [Line Items]
Confidence of the ability		The company is subject to the Solvency II regime and is required to meet an SCR which is calibrated to seek to ensure a 99.5% confidence of the ability to meet its obligations over a 12-month time horizon

Statutory Information (Detail_2

Statutory Information (Details) - Schedule of Statutory Capital and Surplus for the Group’s Principal Operating Subsidiaries - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Bermuda [Member]
Actual statutory capital and surplus
Actual statutory capital and surplus	$ 548,714	$ 413,790
Statutory net income (loss)
Statutory net income (loss)	144,063	78,493	$ 41,827
United Kingdom [Member]
Actual statutory capital and surplus
Actual statutory capital and surplus	165,657	89,127
Statutory net income (loss)
Statutory net income (loss)	27,147	11,077	8,631
Labuan branch [Member]
Actual statutory capital and surplus
Actual statutory capital and surplus	33,321	29,373
Statutory net income (loss)
Statutory net income (loss)	5,000	1,853	2,279
Malta [Member]
Actual statutory capital and surplus
Actual statutory capital and surplus	22,732	8,239
Statutory net income (loss)
Statutory net income (loss)	$ 1,256	$ (579)	$ (835)

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jul. 28, 2023
Related Parties (Details) [Line Items]
Outstanding warrants		$ 3,800
General and administrative expenses	$ 206
Private warrants [Member]
Related Parties (Details) [Line Items]
Private warrants outstanding (in Shares)	4,000,000

Subsequent Events (Details)

Subsequent Events (Details)	Mar. 11, 2024 $ / shares
Forecast [Member]
Subsequent Event [Line Items]
Dividend per share	$ 0.51