DUBAI, United Arab Emirates, 19 February, 2020 -- International General Insurance Holdings Limited (“IGI” or the “Company”), the international specialist commercial insurer and reinsurer, today announced the appointment of Marc Sullivan as Class Underwriter, Downstream Energy, based in IGI’s London office.
Marc has many years of industry experience and joins from Barbican Insurance Group, where he worked as Class Underwriter for Downstream Energy. Before joining Barbican, Marc spent eight years at CV Starr, where he worked his way up through the ranks from Underwriting Assistant to Senior Underwriter. Marc’s expertise has focused on international and U.S. downstream energy market risks.
Marc will be responsible for maintaining IGI’s current book of business for downstream energy, including oil, gas & petrochemicals.
“I am delighted to welcome Marc to the team in London,” said Graham Hensman, Head of Energy at IGI. “Energy has always been and continues to be a core book of business for IGI, and Marc’s experience and market reputation make him an important addition to our team of underwriters who are based in London, Dubai, Kuala Lumpur, Casablanca, and Amman, Jordan. Marc’s appointment is part of our ongoing commitment to strengthening the depth of our underwriting talent.”
“It is an exciting time to be joining IGI as the Company enters its next phase of growth and evolution,” said Marc. “The Downstream Energy market has gone through a particularly challenging phase in its cycle, with carriers pulling out due to inappropriate pricing levels combined with a sustained level of losses. IGI’s strategy has enabled the Company to successfully underwrite their way through the soft market, leaving them in a strong position going forward as the market continues to harden.”
Sarah Hills, Director, Rein4ce
T: +44 (0)7718 882011
Aaida Abu Jaber, PR & Marketing Manager, IGI
T: +96265662082 Ext. 407
Robin Sidders, Head of Investor Relations
T: + 44 (0) 20 7220 4937
IGI is a leading international specialist commercial insurer and reinsurer, underwriting a diverse portfolio of specialty lines. Established in 2001, IGI is an entrepreneurial business with a worldwide portfolio of energy, property, construction & engineering, ports & terminals, financial institutions, casualty, legal expenses, general aviation, professional indemnity, marine liability, political violence, forestry and reinsurance treaty business. Registered in the Dubai International Financial Centre with operations in Bermuda, London, Amman, Labuan and Casablanca, IGI always aims to deliver outstanding levels of service to clients and brokers. IGI is rated “A” (Excellent) with a Stable outlook by AM Best and “A-“with a Stable outlook by S&P Global Ratings. For more information about IGI, please visit www.iginsure.com.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties concerning the expected financial performance and strategic and operational plans of IGI and its proposed Bermuda holding company (“IGI Holdings”). Actual results may differ materially from their expectations, estimates and projections due to a number of risks and uncertainties and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to future performance, projected financial information, statements regarding the anticipated financial impact of the proposed transactions with Tiberius Acquisition Corporation (the “proposed transactions”), the satisfaction of the closing conditions to the proposed transactions, including without limitation receipt of all required regulatory approvals, and the timing of the completion of the proposed transactions. These forward-looking statements involve significant known and unknown risks and uncertainties that could cause the actual results to differ materially from the expected results expressed or implied by such forward-looking statements. Most of these factors are outside of the control of IGI and IGI Holdings and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement related to the proposed transactions or that could otherwise cause the proposed transactions to fail to close; (2) the outcome of any legal proceedings that may be instituted against Tiberius, IGI, IGI Holdings or others in connection with the proposed transactions; (3) the inability to complete the proposed transactions, including due to failure to obtain approval of the stockholders of Tiberius or other conditions to closing in the Business Combination Agreement;(4) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or other third party consents required to complete the transactions contemplated by the Business Combination Agreement; (5) the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the proposed transactions; (6) the inability to obtain or maintain the listing of the post-acquisition company’s common shares on Nasdaq in connection with or following the closing of the proposed transactions including having the requisite number of shareholders; (7) delays in satisfying in a timely manner the other conditions contained in the Business Combination Agreement; (8) the risk that the proposed transactions disrupt current plans and operations as a result of the announcement and consummation of the proposed transactions; (9) the potential inability to recognize the anticipated benefits of the proposed transactions, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (10) costs related to the proposed transactions; (11) changes in applicable laws or regulations; (12) the possibility that Tiberius, IGI or IGI Holdings may be adversely affected by other economic, business, and/or competitive factors; (13) the failure of the market for IGI’s or IGI Holdings’ products and services to continue to develop; and (14) other risks and uncertainties indicated from time to time in the registration statement relating to the proposed transactions, including those under “Risk Factors” therein, and in IGI’s and Tiberius’s other filings with the SEC. The foregoing list of factors is not exclusive. In addition, any financial projections issued by the parties are inherently based on various estimates and assumptions that are subject to the judgment of those preparing them and are also subject to significant economic, competitive, industry and other uncertainties and contingencies, all of which are difficult or impossible to predict and many of which are beyond the control of Tiberius and IGI. There can be no assurance that IGI’s and IGI Holdings’ financial condition or results of operations will be consistent with those set forth in such financial projections. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Tiberius, IGI, and IGI Holdings do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.