Malaysian National Reinsurance Holdings Bhd (MNRB), the nation's long-standing reinsurer, announced that the group achieved 66.4% net profit growth year-on-year in the first half of its financial year to end March 31, 2025 (1H FY2024/25), amounted to RM184.9 million, up from RM111.1 million in the same period last financial year.
In announcing the financial results for the six-month fiscal period, which started Apr 1 and ended Sept 30, 2024, the group revealed that reinsurance, retakaful, and retail takaful sectors collectively contributed to the strong performance, underscoring the success of the strategic initiatives and unwavering commitment of the group towards sustainable growth.
MNRB's consolidated gross written premium and contribution stood at RM1.8 billion in the first half of FY2024/25, compared to RM1.9 billion in the same period the previous financial year.
Within the same period, the group also recorded RM19.6 million increase in investment income to RM219.6 million from RM200.2 million in the first-half of FY2023/24. This came on the back of higher interest and profit income from fixed deposits and bond investments.
For the individual second quarter ended Sept 30, 2024 (Q2 FY2024/25), MNRB's group net profit also experienced substantial growth, increasing 122.8% to RM92.7 million, up from RM41.6 million in Q2 FY2023/24.
As at 10:45am Oct 24, MNRB's share traded at RM2.30, up 19 sen from its closing price of RM2.11 recorded the previous day. (Stock updates from Bursa Malaysia)
