MNRB delivers strong first half fy2026 results with 51.8% pat growth

Kuala Lumpur, 17 November 2025 - MNRB Holdings Berhad (MNRB or the Group) today announced a robust set of financial results for the six months ended 30 September 2025 (First Half FY2026 or H1 FY2026), underscoring the Group's resilient performance and strong delivery against its strategic execution.

H1 FY2026 Highlights

Strong Profit After Tax (PAT): RM280.7 million (+51.8% year-on-year or YoY), driven by solid contributions across all business segments and higher net investment income.

Solid performance of the reinsurance/retakaful segment contributing to 73.6% of the Group's earnings

Robust Insurance/Takaful Revenue: RM1.7 billion (+11.5% YoY), led by continued expansion in the general takaful and retakaful segments.

Resilient Investment Results: RM326.7 million, 2.4 times higher YoY, underpinned by strong returns from fixed income and equity allocation.

Strong Momentum Across Business Segments

Group PAT rose 51.8% YoY to RM280.7 million from RM184.9 million in H1 FY2025, mainly driven by growth in insurance/takaful revenue, prudent underwriting practices, favourable claims experience and improved investment results. This was further supported by a stable operating environment during the period under review.

Total revenue rose 9.5% to RM1.9 billion (H1 FY2025: RM1.7 billion), reflecting broad-based growth and the strength of MNRB's diversified portfolio.

Insurance/takaful revenue grew 11.5% to RM1.7 billion (H1 FY2025: RM1.5 billion), driven by the continued expansion of the general takaful and retakaful segments. Insurance/takaful service results increased 24.6% to RM271.5 million (H1 FY2025: RM217.9 million), primarily driven by the reinsurance unit, reflecting stronger underwriting performance and profitable portfolio growth.

Investment performance remained a key earnings driver, with investment results rising to RM326.7 million - 2.4 times higher than RM135.1 million a year earlier. The uplift was largely driven by robust gains from the Group's equity allocation due to improved equity earnings and positive market sentiment. Fixed income returns also remained favourable supported by an easing interest rate environment across the portfolio.

MNRB's annualised Return on Equity (ROE) (excluding fair value gains on investment and forex exchange impact) increased to 11.5% from 9.9% in H1 FY2025, reflecting strong financial health and strategic expansion.

Second Quarter FY2026 Highlights

For the second quarter ended 30 September 2025 (Q2 FY2026), MNRB reported a PAT of RM112.3 million, up 21.0% from the RM92.7 million recorded in Q2 FY2025. This improvement was driven by higher revenue growth and stronger investment results.

Total revenue increased 5.5% YoY to RM927.6 million (Q2 FY2025: RM878.8 million) supported by stronger contributions from the general takaful, retakaful and family takaful segments.

Leadership Commentary

Commenting on the Group's robust performance in H1 FY2026, Dato' Rudy Rodzila Che Lamin, Interim President & Group Chief Executive Officer of MNRB said: "Our first-half results reflect the strength of our strategic execution and resilience of our business model. The double-digit growth across key metrics demonstrates the effectiveness of our diversified portfolio, selective underwriting and disciplined capital management.

"We continued to advance our digital transformation and sustainability agendas, reaffirming our commitment to innovation, efficiency, customer-centricity and long-term value creation. The increased subscription to our self-service online platform demonstrates stronger customer engagement and growing confidence in the Group's digital capabilities, while our efforts to embed targeted ESG considerations into our operations and investment decisions support our aspiration to achieve Net Zero Carbon Organisation by 2050."

Business Segment Performance

Reinsurance/Retakaful: Malaysian Re Maintains Upward Momentum

Malaysian Reinsurance Berhad (Malaysian Re), the Group's reinsurance/retakaful arm, delivered a 46.9% increase in PAT to RM206.5 million (H1 FY2025: RM140.6 million), supported by stronger insurance/takaful service results, favourable claims experience and higher investment income. Revenue rose 3.0% to RM1.1 billion, driven by growth in the family retakaful and facultative businesses.

Malaysian Re's strategic focus on diversifying its portfolio-both by business line and geography-has enabled the Company to recalibrate with precision. Leveraging on its diversified portfolio, disciplined underwriting and expanding global footprint, Malaysian Re continues to strengthen its presence across APAC - focusing on ASEAN - and the European regions, while upholding its domestic leadership as Malaysia's national reinsurer.

Takaful Business: Takaful IKHLAS Delivers Solid Growth

The Group's takaful segments, Takaful Ikhlas General Berhad and Takaful Ikhlas Family Berhad, collectively known as Takaful IKHLAS, posted a combined PAT of RM53.6 million in H1 FY2026 (H1 FY2025: RM35.7 million), representing a 50.1% increase YoY. The improvement was mainly underpinned by higher takaful service results, led by the general takaful business, and stronger investment performance.

Takaful IKHLAS' revenue rose 23.7% YoY to RM844.7 million (H1 FY2025: RM682.7 million), fuelled by solid growth in the general takaful segment, particularly the expansion of its Motor and Fire portfolios through Agency and Direct channels, including digital partnerships and online platforms. This was further supported by the growth in the Group Credit Term (GCTT), Group Term (GTT) and Group Hospitalisation (GHS) portfolios from the family takaful segment.

Takaful IKHLAS continues to deepen its strategic partnerships, enhance its product value propositions, accelerate digital transformation and broaden its distribution capabilities to reinforce its market position and ensure long-term, sustainable growth.

Outlook

Looking ahead, the Group remains focused on executing its strategic priorities to drive sustainable growth and profitability while maintaining a strong capital position. MNRB will continue to uphold underwriting discipline, enhance operational efficiency, maintain a balanced business portfolio and strengthen risk management to capture opportunities across its business segments. With these priorities in place, the Group is well-positioned to navigate market challenges and deliver long-term value to its shareholders and stakeholders.

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About MNRB

MNRB Holdings Berhad ("MNRB") is a leading financial holding company offering reinsurance, retakaful and takaful solutions through its wholly owned subsidiaries - Malaysian Reinsurance Berhad, Takaful Ikhlas Family Berhad and Takaful Ikhlas General Berhad. MNRB is listed on the Main Market of Bursa Malaysia Securities Berhad. For more information, please visit https://www.mnrb.com.my.

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