IGIC vs. BRO

Last updated Jun 4, 2026

IGIC (International General Insurance Holdings Ltd.) and BRO (Brown & Brown, Inc.) are both stocks. Both are in the Financial Services sector — IGIC in Insurance - Diversified, BRO in Insurance Brokers. Over the past 5 years, IGIC returned 26.93%/yr vs 1.75%/yr for BRO. At a 0.10 correlation, their price movements are largely independent.

Performance

IGIC vs. BRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in International General Insurance Holdings Ltd. (IGIC) and Brown & Brown, Inc. (BRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGIC achieves a 3.59% return, which is significantly higher than BRO's -30.45% return.

IGIC

• 1D: -0.50%
• 1M: -0.62%
• YTD: 3.59%
• 6M: 8.74%
• 1Y: 13.52%
• 3Y*: 45.23%
• 5Y*: 26.93%
• 10Y*: —

BRO

• 1D: -2.56%
• 1M: -4.06%
• YTD: -30.45%
• 6M: -30.41%
• 1Y: -50.59%
• 3Y*: -4.07%
• 5Y*: 1.75%
• 10Y*: 12.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGIC vs. BRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IGIC International General Insurance Holdings Ltd.	3.59%	9.96%	92.38%	61.66%	1.62%	4.19%	-1.53%
BRO Brown & Brown, Inc.	-30.45%	-21.37%	44.32%	25.73%	-18.39%	49.31%	29.67%

Correlation

The correlation between IGIC and BRO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 19, 2020	0.10

Fundamentals

EPS IGIC : $2.80 BRO : $4.76
PE Ratio IGIC : 8.80 BRO : 11.58
PEG Ratio IGIC : 0.22 BRO : 0.85
PS Ratio IGIC : 2.07 BRO : 2.07
Total Revenue (TTM) IGIC : $517.47M BRO : $6.43B
Gross Profit (TTM) IGIC : $327.35M BRO : $3.82B
EBITDA (TTM) IGIC : $120.52M BRO : $1.51B

Return for Risk

IGIC vs. BRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGIC

IGIC Risk / Return Rank: 57
IGIC Sharpe Ratio Rank: 59
IGIC Sortino Ratio Rank: 52
IGIC Omega Ratio Rank: 50
IGIC Calmar Ratio Rank: 59
IGIC Martin Ratio Rank: 63

BRO

BRO Risk / Return Rank: 1
BRO Sharpe Ratio Rank: 0
BRO Sortino Ratio Rank: 0
BRO Omega Ratio Rank: 1
BRO Calmar Ratio Rank: 0
BRO Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGIC vs. BRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for International General Insurance Holdings Ltd. (IGIC) and Brown & Brown, Inc. (BRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IGIC	BRO	Difference
Sharpe ratio Return per unit of total volatility	0.56	-1.81	+2.37
Sortino ratio Return per unit of downside risk	0.94	-2.77	+3.71
Omega ratio Gain probability vs. loss probability	1.11	0.65	+0.46
Calmar ratio Return relative to maximum drawdown	0.87	-1.00	+1.87
Martin ratio Return relative to average drawdown	2.43	-1.73	+4.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGIC vs. BRO - Sharpe Ratio Comparison

The current IGIC Sharpe Ratio is 0.56, which is higher than the BRO Sharpe Ratio of -1.81. The chart below compares the historical Sharpe Ratios of IGIC and BRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGIC	BRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	-1.81	+2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.07	+0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.50	+0.06

Drawdowns

IGIC vs. BRO - Drawdown Comparison

The maximum IGIC drawdown since its inception was -33.89%, smaller than the maximum BRO drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for IGIC and BRO.

Drawdown Indicators

	IGIC	BRO	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-55.85%	+21.96%
Max Drawdown (1Y) Largest decline over 1 year	-15.58%	-50.65%	+35.07%
Max Drawdown (3Y) Largest decline over 3 years	-19.48%	-55.85%	+36.37%
Max Drawdown (5Y) Largest decline over 5 years	-27.26%	-55.85%	+28.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-55.85%	—
Current Drawdown Current decline from peak	-8.41%	-55.23%	+46.82%
Average Drawdown Average peak-to-trough decline	-9.40%	-13.51%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.58%	29.99%	-24.41%

Volatility

IGIC vs. BRO - Volatility Comparison

International General Insurance Holdings Ltd. (IGIC) and Brown & Brown, Inc. (BRO) have volatilities of 8.77% and 8.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGIC	BRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.77%	8.61%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	21.31%	-4.78%
Volatility (1Y) Calculated over the trailing 1-year period	24.48%	28.01%	-3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.21%	24.72%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.99%	23.64%	+18.35%

Dividends

IGIC vs. BRO - Dividend Comparison

IGIC's dividend yield for the trailing twelve months is around 5.58%, more than BRO's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRO Brown & Brown, Inc.	1.17%	0.77%	0.53%	0.67%	0.74%	0.54%	0.73%	0.82%	1.11%	1.08%	1.12%	1.41%
IGIC International General Insurance Holdings Ltd.	5.58%	4.09%	2.46%	0.31%	2.75%	4.07%	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

IGIC vs. BRO - Profitability Comparison

The chart below illustrates the profitability comparison between International General Insurance Holdings Ltd. and Brown & Brown, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

IGIC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, International General Insurance Holdings Ltd. reported a gross profit of 125.60M and revenue of 125.60M. Therefore, the gross margin over that period was 100.0%.

BRO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported a gross profit of 994.00M and revenue of 1.90B. Therefore, the gross margin over that period was 52.3%.

IGIC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, International General Insurance Holdings Ltd. reported an operating income of 22.00M and revenue of 125.60M, resulting in an operating margin of 17.5%.

BRO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported an operating income of 0.00 and revenue of 1.90B, resulting in an operating margin of 0.0%.

IGIC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, International General Insurance Holdings Ltd. reported a net income of 21.70M and revenue of 125.60M, resulting in a net margin of 17.3%.

BRO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brown & Brown, Inc. reported a net income of 426.00M and revenue of 1.90B, resulting in a net margin of 22.4%.

Frequently Asked Questions

Can I hold both IGIC and BRO in my portfolio?

IGIC and BRO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGIC or BRO?

IGIC has higher volatility (8.77%) compared to BRO (8.61%). In terms of maximum drawdown, IGIC dropped -33.89% vs BRO's -55.85%.

Which has better risk-adjusted returns?

IGIC currently has the higher Sharpe Ratio (0.56 vs -1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.