MNRB Holdings has reported a 66.4% surge in group net profit to MYR184.9m ($42.5m) for the first half of FY2025 (that is, the six months ended 30 September 2024) from MYR111.1m for the corresponding last year.
MRNB said in a statement, “This growth was propelled by improved operating performance, particularly within our reinsurance and general takaful divisions. Additionally, our associate companies also contributed to the increased profits.”
The Group’s consolidated gross written premium and contribution stood at MYR1.8bn in 1HFY2025 compared to MYR1.9bn in the corresponding period last year.
However, the Group recorded an increase of over MYR19m in investment income to MYR219.6m in 1HFY2025, compared to MYR200.2m in 1H2024. This came on the back of higher interest and profit income from fixed deposits and bond investments.
MNRB’s annualised return on equity increased to 11.0% in 1HFY2025 from 8.7% in 1HFY2024.
Commenting on the Group’s performance in 1H FY2025, MNRB’s chairman, Datuk Johar Che Mat said, “The solid fundamentals and comprehensive offerings of the Group’s reinsurance, retakaful, and takaful solutions have been pivotal in driving the growth and profitability during the period under review. Our reinsurance/retakaful business continues to expand its global footprint, while our retail takaful businesses continue to enhance customer experience through innovative technology”.
MNRB is an investment holding company with subsidiaries engaged in reinsurance and retakaful, general takaful, and family takaful businesses in Malaysia.
MNRB operates through various subsidiaries including Malaysian Re, Takaful Ikhlas Family, and Takaful Ikhlas General. Malaysian Re, wholly owned by MNRB, is also the largest player in the domestic reinsurance and retakaful business.