IGI RECEIVES BMA APPROVAL FOR PURCHASE BY TIBERIUS

International General Insurance Holdings (IGI) has received approval from the Bermuda Monetary Authority (BMA) for its acquisition by investment vehicle Tiberius Acquisition Corp. Other regulators, including the UK's Prudential Regulation Authority and the Dubai Financial Services Authority, have yet to approve the deal. After the transaction completes, IGI will be domiciled in Bermuda and will be listed under the Nasdaq ticker “IGIC”. Some $120m will be added to IGI’s balance sheet, taking its pro forma market capitalisation to more than $550m.