NASSAU, BAHAMAS — Colina Holdings Bahamas Limited (CHBL) delivered strong financial results for the six months ended June 30, 2025, reporting net and comprehensive income attributable to ordinary shareholders of $22.7 million, or $0.92 per share, up from $9.8 million, or $0.40 per share, during the same period in 2024.
The company also finalized the acquisition of the Saxon Group of companies, comprising Saxon Holding Company Ltd. and Saxon Administration Ltd., both domiciled in the Cayman Islands. This strategic acquisition added $14.1 million in net assets to CHBL’s balance sheet and created $14 million in goodwill, expanding the company’s operational and service capabilities.
Executive Chairman Emanuel Alexiou highlighted the strong contributions from CHBL’s insurance operations, which generated $11.3 million in insurance service results for the half-year — a $2.1 million improvement over the same period last year. He noted that this growth reflects solid performance across the company’s life, health, and general insurance subsidiaries, with the newly acquired Saxon companies immediately contributing to the improved results. “The integration of Saxon Holdings within the CHBL group strengthens our shared vision and enhances our ability to deliver service excellence to our customers,” Alexiou said.
CHBL’s net investment income for the period rose to $26.3 million, compared with $20.5 million in the prior year. The increase was driven by higher interest income and mark-to-market adjustments on invested assets. While mark-to-market adjustments are non-cash in nature and reflect fluctuations in market conditions rather than realized gains or losses, they illustrate the company’s ability to maintain strong investment performance amid volatile markets. Alexiou cautioned that investment returns may continue to experience short-term volatility, but emphasized the company’s disciplined approach to managing its portfolio.
The company’s total assets stood at $945.6 million as of June 30, 2025, up from $886.7 million at December 31, 2024, with invested assets representing 71.5% of total assets. Shareholders’ equity totaled $286.6 million, after dividend distributions of $1.2 million to Class “A” preference shareholders and $4.4 million, or $0.18 per share, to ordinary shareholders.
