** Shares of specialty insurer International General Insurance IGIC.O rise 3.7% to $27.34
** IGIC late Tuesday posted record Q4 core operating income of $40.9 million, or 89 cents/shr, beating analysts' expectations of 74 cents, according to estimates compiled by LSEG
** Q4 net premiums earned rose to $120.6 million from $114.9 million a year earlier, driven by its reinsurance business
** IGIC in recent years has doubled the size of its underwriting portfolio, adding new lines of business and entered new markets, including the U.S.
** Meanwhile, Q4 combined ratio improved to 77.8% from 81.8% a year earlier
** Oppenheimer says Q4 results reflect strong underwriting margins at IGIC as combined ratio improved
** As of last close, IGIC stock up 11% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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