NASSAU, BAHAMAS — FamGuard Corporation Limited reported profits of $3.2 million for the six months ended June 30, 2025, as insurance revenue growth and higher investment income helped offset rising health claims and financing costs tied to interest rate movements.
The results, representing earnings of $0.11 per share, were in line with expectations and reflect “the continued strength of the Group’s core insurance business operations, despite the impact of external market factors,” said Raymond Winder, chairman of the board.
Insurance revenue surged 22.5 percent to $63.4 million compared to $51.8 million a year earlier, driven by increases across all business lines. The company credited ongoing strategic initiatives, including customer service improvements and technology enhancements, for the uplift.
Insurance service expenses climbed to $52.8 million from $43.6 million in the prior year, mainly from higher utilization in the group health division as membership expanded.
Net investment income rose to $10.5 million, up from $8.8 million in 2024, bolstered by stronger yields on debt securities and fair value gains on market assets. However, higher insurance finance expenses—up by $2.7 million year-over-year—partly offset these gains, as bond price movements and interest rate shifts increased long-term insurance contract liabilities.
Despite these pressures, FamGuard’s financial position remained resilient. Total assets grew 2.8 percent to $397.2 million, with investment assets accounting for $326.6 million of that total. Liabilities stood at $277.4 million, while equity attributable to shareholders was $119.8 million.
“The Group remains sufficiently capitalized and compliant with the regulatory capital requirements,” Mr. Winder said. He added that the board approved second-quarter dividends of $1.5 million, or $0.05 per share, reflecting a continued commitment to shareholder returns.
