International General Insurance Holdings Ltd. (IGI) has named seasoned London market executive Malcolm Barnes as Head of Specialty Treaty, a newly established role designed to strengthen and expand the company’s reinsurance portfolio.
Based in IGI’s London office at 20 Fenchurch Street, Barnes will spearhead the development and management of the insurer’s specialty treaty reinsurance operations — enhancing IGI’s presence in the London market and reinforcing its global reinsurance capabilities.
With over 35 years of experience in the London insurance and reinsurance market, Barnes brings extensive underwriting expertise. He joins IGI from Amlin Syndicate 2001, where he led the marine treaty reinsurance team, and has previously held senior roles across multiple Lloyd’s syndicates specialising in specialty reinsurance.
The appointment comes as IGI continues to report solid financial performance. For the quarter ended 30 June 2025, the company posted net income of $34.1 million, up 3.9% from $32.8 million in the prior-year period. For the first six months of 2025, net income totalled $61.4 million, compared with $70.7 million a year earlier.
IGI’s annualised return on average equity for the quarter stood at 20.8%, down from 22.9% in 2024, while its first-half return reached 18.6%, compared to 25% last year. Core operating income for the second quarter came in at $22.8 million, versus $33.2 million in 2024, reflecting an annualised core operating return on average equity of 13.9%.
The creation of the specialty treaty role and Barnes’ appointment underline IGI’s commitment to diversifying its reinsurance portfolio and pursuing long-term growth across specialty lines, despite ongoing competitive market conditions.
