MNRB Holdings Berhad (MNRB) announced its financial results for the third quarter ended December 31, 2025. Net profit was RM151 million, higher than RM115.9 million in the same period last year, and revenue increased by 17.8% year-on-year, from RM826.4 million to RM973.9 million.
This growth was driven by increased contributions from all core business segments, namely general takaful, reinsurance, reinsurance and family takaful segments.
Revenue from the reinsurance segment, which is the group’s main revenue driver and operated by its subsidiary Malaysian Re, rose 7.1% to RM505.4 million from RM471.7 million, driven by the specialty, local and overseas treaty and voluntary reinsurance portfolios, and supported by profit releases from contract services.
Despite the improvement in revenue, the segment’s profit before zakat and tax fell by RM12.9 million or 9.5% to RM122.5 million compared with RM135.4 million in the same period last year.
The company attributed the decline to lower net investment performance due to unrealized foreign exchange losses on foreign assets following a stronger Malaysian ringgit (MYR).
The Retakaful business, managed by Malaysian Re, performed solidly during the quarter with total revenue reaching RM44 million, an increase of 60.6% or RM16.6 million from RM27.4 million in the same period last year.
Growth was strong, driven mainly by higher takaful income, particularly from households returning to their takaful portfolio, indicating continued expansion in this business segment.
Along with the increase in revenue, the segment’s profit before zakat and tax surged by RM1.4 million or 127.3% to RM2.5 million from RM1.1 million in the same period last year, a gain mainly attributed to the General Retakaful portfolio.
This improvement was largely driven by disciplined cost management, underscoring the division’s positive momentum and increased efficiency.
For the nine-month period ended December 31, 2025, MNRB’s total revenue reached RM2.88 billion, an increase of 12.2% from RM2.56 billion in the previous year, reflecting the steady expansion of the business in core areas and increasing market relevance.
Growth was driven by improved performance across all business segments (i.e. general takaful, reinsurance, family takaful and reinsurance), reflecting the continued expansion of the group’s business and sustained market position.
Revenue momentum was further supported by higher net investment income, in line with the recovery of Malaysian capital markets during the year.
Reinsurance income increased 1.0% to RM1,516.4 million, higher than RM1,500.9 million, an increase of RM15.4 million. The strong revenue performance was primarily due to better expectations for claims and insurance servicing expenses, as well as increased cash flow recovery from expected acquisitions.
Total revenue from the insurance business was RM126.8 million, a significant increase of RM66.7 million or 111.0% from RM60.1 million in the same period last year.
This growth was primarily driven by higher takaful income, particularly from households returning to the takaful portfolio, which is consistent with the segment’s continued business expansion.