Guardian Holdings Limited (GHL) has recorded profit attributable to equity shareholders of $770 million for the three months ended March 31, 2025, exceeding the prior year’s results of $234 million by $536 million or 229 per cent.
According to GHL chairman Robert Almeida, this increase for the insurance company's first quarter was mainly attributed to the gain on sale of $651 million as a result of the sale of 100 per cent of the shares of Thoma Exploitatie B.V. on 24th January, 2025.
Almeida said, "This is included in net profit from discontinued operations after taxation. The Group recorded unaudited profit attributable to equity shareholders on continuing operations of $120 million, lower than the prior year’s results of $227 million by $107 million or 47 per cent."
He stated that import tariff changes announced by the US government on an already volatile investment market has impacted the company's first quarter’s performance, resulting in a year-over-year reduction in net fair value gains of $101 million or 68 per cent.
He said, "Although this quarter’s results from continuing operations were below expectations, the underlying fundamentals of the group remain strong. Our focus remains firmly on sustainable, long-term value creation supported by operational efficiencies, disciplined cost management, and favourable market dynamics. We expect upcoming quarters to better reflect the underlying strength of our group. "
Almeida stated that for the quarter ended 31st March, 2025, insurance revenues were $1.48 billion, surpassing the prior year’s revenues of $1.41 billion by $68 million or 5 per cent from continued growth inthe group's operations in the English-speaking and Dutch Caribbean markets.
He added the group's Life, Health and Pension (LHP) segment contributed insurance revenues of $734 million, up from $700 million in the prior year by $34 million or 5%.
He said, "Insurance revenue increased on all lines except for Group Life and Group Health, which were marginally lower than the prior year. In this quarter, the LHP segment generated $82 million in new business contractual service margin compared to the prior year’s new business of $97 million, as we continue to sell new policies and retain and service existing business. This year-over-year increase in revenue was partially offset by increased insurance service expenses and higher net expenses from reinsurance contracts held. Total gross claims paid by the LHP Segment for the current quarter amounted to $782 million compared to $733 million in the prior year’s quarter. "
