MNRB Holdings Berhad (MNRB) announced its financial results for the third quarter ended Dec 31, 2025, reporting a net profit of RM151 million, up from RM115.9 million a year earlier, with revenue rising 17.8% year-on-year to RM973.9 million from RM826.4 million.
This growth was driven by improved contributions across all core business segments, namely the General Takaful, Reinsurance, Retakaful, and Family Takaful segment.
As the group’s primary revenue driver, the Reinsurance segment – operated by its subsidiary Malaysian Re – saw a 7.1% increase in revenue, to RM505.4 million from RM471.7 million, boosted by specialty, local and overseas treaty, as well as voluntary cession portfolios, supported by the release of the contractual service margin.
Despite the revenue improvement, the segment’s profit before zakat and taxation declined by RM12.9 million or 9.5% to RM122.5 million, compared to RM135.4 million in the same quarter last year.
The company attributed this decline to lower net investment results caused by unrealised foreign exchange losses on foreign assets, following the strengthening of the Malaysian Ringgit (MYR).
The Retakaful business, managed by Malaysian Re, delivered a solid performance during the quarter, recording total revenue of RM44.0 million, a 60.6% or RM16.6 million increase from RM27.4 million in the corresponding quarter last year.
Growth was strong, primarily fueled by increased takaful revenue, notably from the Family Retakaful portfolio, indicating continuous expansion in this business segment.
Concurrently with the higher revenue, the segment’s profit before zakat and taxation rose significantly by RM1.4 million, or 127.3%, to RM2.5 million from RM1.1 million in the corresponding quarter last year, a gain mainly attributed to the General Retakaful portfolio.
This improvement was largely supported by disciplined cost management, underscoring the segment’s positive momentum and enhanced efficiency.
For the nine-month period ended Dec 31, 2025, MNRB’s total revenue reached RM2.88 billion, a 12.2% increase from the RM2.56 billion recorded in the previous year, reflecting steady business expansion across core segments and growing market relevance.
Growth was driven by improved performance across all business segments, namely General Takaful, Retakaful, Family Takaful and Reinsurance, reflecting the Group’s continued business expansion and sustained market position.
Revenue momentum was further supported by higher net investment income, in line with the recovery in the Malaysian capital markets during the year.
Reinsurance revenue grew by 1.0% to RM1,516.4 million, up from RM1,500.9 million, representing an increase of RM15.4 million. This stronger revenue performance was mainly due to better expectations regarding claims and insurance service expenses, as well as an increased recovery of anticipated acquisition cashflows.
The Retakaful business recorded total revenue of RM126.8 million, a substantial increase of RM66.7 million or 111.0% compared to RM60.1 million in the same period last year.
This growth was primarily driven by higher takaful revenue, particularly from the Family Retakaful portfolio, in line with the segment’s ongoing business expansion.
