International General Insurance Holdings Ltd (IGIC)

[Explorergypsy1]

REDDIT / WAKKSTREETBETS https://www.reddit.com/r/Wallstreetbetsnew/comments/m7njik/igic_is_a_deep_fucking_value_play_ape_eat_tendies/



$IGIC (commons) & $IGICW (warrants)
Growing at 31% YoY

Extremely Moaty Specialty Insurance Business

Family-owned company (~29% of outstanding shares)

No debt

Not affected negatively by Covid (so not dependent upon reopening)

Specialized insurance (high profit margins)

Insurance rates are the highest they've ever been (we're seeing 20-30% gains in premiums)

Profitable

20 Year old business

Founder still very active in the company (he's 87)

Pays a dividend

$380m in cash (their M.C. is $345m CRAZY)

Repurchasing shares

Has warrants (they're a 1-1 with an $11.50 Strike)