– UAE, Dubai – International General Insurance Holdings Limited, today named the full Board of Directors who will hold office upon closing of the previously announced business combination with Tiberius Acquisition Corp and its public market listing on NASDAQ.
Following the closing of the business combination, the Board of Directors of IGI’s new Bermuda-based parent company will consist of seven members, four of whom will be independent directors.
The new Board will have two IGI executive officers: CEO and Founder Wasef Jabsheh who will serve as Chairman of the Board, and IGI President Waleed Jabsheh.
IGI’s majority-independent Board will include four independent directors:
- David Anthony has been on the current IGI Board since 2018, and is an independent insurance consultant, and former Director and senior ratings analyst of S&P Global Ratings as well as former Chairman of its Insurance Ratings Committee;
- David King has served on the current IGI Board since 2014, and is currently the Chairman of its Audit and Risk Committee. He has also serves on the Board of IGI’s UK subsidiary and is currently Non-executive Chairman of its Board. In addition, he serves as Chairman of the Board of Directors of Forex Capital Markets Limited, a private UK company, and is a member of its audit and remuneration committees. He formerly held senior positions in China Construction Bank International, The London Metal Exchange, and the Dubai regulatory agency Dubai Financial Services Authority;
- Michael Gray is CEO of Tiberius, and CEO of The Gray Insurance Company, Chairman of the Louisiana Insurance Guaranty Association, and Director of both American Insurance Association and the Property Casualty Insurers Association of America; and
- Wanda Mwaura is a qualified accountant with more than 24 years of audit, accounting, and advisory experience in financial services and reinsurance, with specific expertise in U.S. GAAP, IFRS, SEC and audit committee reporting; internal controls; investments; and business combinations and valuations. Most recently Wanda served as Chief Accounting Officer and Head of External Reporting at PartnerRe. Prior to joining PartnerRe in 2013, Wanda was a Partner at Ernst & Young.
In addition, Tiberius Chief Investment Officer Andrew Poole will serve as a director.
IGI intends to close the business combination with Tiberius as promptly as practicable following satisfaction of the requisite closing conditions and approvals contained in the Business Combination Agreement. Upon the closing of the business combination, the continuing public parent company will be International General Insurance Holdings Limited, organized in Bermuda, and the existing IGI will become a subsidiary of this Bermuda parent company.
We expect that the Bermuda parent company will be listed on NASDAQ under the ticker symbol “IGIC”.
IGI is a leading international specialist commercial insurer and reinsurer, underwriting a diverse portfolio of speciality 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” with a Stable outlook by AM Best and “A-” with a Stable outlook by S&P Global Ratings.
For more information: https://www.iginsure.com
Tiberius is a blank check company with over $200 million of capital in trust and forward purchase commitments and is led by Michael Gray and Andrew Poole. Tiberius was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more target businesses in the insurance sector. The executives and Board of Directors of Tiberius have greater than 140 years of public company operational, regulatory and insurance public company leadership. Tiberius’ common stock, warrants and units currently are listed on Nasdaq under the ticker symbols “TIBR”, “TIBRW” and “TIBRU”.
For more information: http://www.tiberiusco.com
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