MNRB Holdings Berhad’s wholly owned subsidiary, Malaysian Reinsurance Berhad (Malaysian Re), reported profit after tax of RM140.2 million for the first quarter of the financial year ending 31 March 2027, up 25.1% year over year from RM112.1 million and contributing 76.3% of the group’s overall profit after tax.
Malaysian Re’s profit after tax growth was driven by stable insurance/takaful service results and improved investment results, underpinned by higher unrealised foreign exchange gains.
During the quarter, Malaysian Re continued to expand and diversify its portfolio and deepen its international presence. It entered into a strategic partnership with China Re Life to support Malaysia’s first dedicated reinsurance framework for Cancer Precision Medicine treatment coverage.
Following the approval of MNRB’s shareholders at the Extraordinary General Meeting held on 14 August 2026, the proposed Labuan Re acquisition remains subject to outstanding conditions and relevant regulatory approvals. The deal entails MNRB acquiring the remaining 80% equity interest in Labuan Re for approximately $100.69 million in cash.
The Group’s takaful businesses – Takaful Ikhlas General Berhad and Takaful Ikhlas Family Berhad, collectively known as Takaful IKHLAS – delivered a strong performance in Q1 FY2027. Their combined profit after tax increased 23.8% to RM29.6 million from RM23.9 million in Q1 FY2026, driven by higher wakalah income from both the family and general business portfolios.
Group wide, profit after tax increased 9.1% to RM183.8 million, supported by higher earnings from the reinsurance/retakaful and takaful businesses.
The group’s total revenue increased by 2.8% to RM1.0 billion from RM975.6 million, with insurance/takaful revenue rising 3.2% to RM894.0 million, reflecting steady business expansion across core segments.
Return on Equity strengthened to 15.0% from 11.2%, while Earnings Per Share rose to 23.5 sen from 21.5 sen, underscoring the group’s sustained earnings growth, continued focus on efficient capital management and strong financial resilience.
Dato’ Rudy Rodzila Che Lamin, Interim President & Group Chief Executive Officer of MNRB, said, “MNRB made a solid start to FY2027, with higher earnings recorded across our key business segments. This reflects the progress we have made in strengthening our businesses and our continued focus on delivering sustainable, profitable growth.
“We are clear about where MNRB’s next phase of growth lies as we realign our business model around our core reinsurance and retakaful strengths. We are building a stronger and more focused Group with the scale, specialist capabilities and market connectivity to pursue quality growth across Malaysia, the region and selected international markets.
“The proposed acquisition of Labuan Re and the proposed divestment of Takaful IKHLAS are important components of this transformation. The acquisition is expected to strengthen our reinsurance and retakaful platform, while the divestment is intended to unlock the value built in the takaful businesses for our shareholders and enable us to focus our capital and resources on sustainable growth opportunities for the long term.
“Our priorities remain centred on underwriting excellence, efficient capital management and sustained investments in talent, technology, data and risk analytics. Our Q1 results reinforce our confidence that the initiatives undertaken to date are delivering meaningful outcomes. We are optimistic by the opportunities ahead and confident in our ability to translate our strategic ambitions into stronger, more resilient earnings and even greater long-term value for our shareholders and other stakeholders.”
