The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

A BISX-LISTED insurer and financial services group reported a $24.3m net profit for the first half of 2026, with its insurance service result rising by $2.7m as the company pointed to stronger underlying operating performance.

Colina Holdings Bahamas Limited (CHBL) said net income attributable to ordinary shareholders for the six months ended June 30 increased from $22.7m, or $0.92 per ordinary share, in the same period last year to $24.3m, or $0.98 per share.

Emanuel Alexiou, CHBL chairman, said the group continued to deliver strong financial and operational performance through the first half of the year, pointing to the strength of its core businesses and execution of its strategic priorities.

The company’s insurance service result increased to $13.9m from $11.3m in the first half of 2025.

Mr Alexiou said the improvement reflected “solid underlying operating performance” and the ability of CHBL’s insurance operations to generate earnings from core activities.

Andrew Alexiou, CHBL chief executive, also pointed to the role of technology in improving the group’s insurance operations.

“Our improved insurance service result reflects the work being done across the organisation to serve customers more efficiently and effectively,” he said.

“Investments in technology are helping us strengthen that performance by improving processes, supporting faster decision-making and giving our teams better tools to meet customer needs.”

CHBL also reported higher revenues from its administrative, investment management and advisory businesses, supported by growth in assets under management and administration.

However, net investment income fell to $17.6m during the period from $26.3m in the first half of 2025.

The company attributed the decline primarily to mark-to-market fair value adjustments, noting that investment market volatility and fair value accounting adjustments can influence reported investment income from period to period.

“Although mark-to-market fluctuations may cause variability in reported investment income, these movements do not alter our long-term investment strategy,” said Mr Alexiou.

“Our focus remains the quality of portfolio assets, liquidity and long-term value preservation.”

CHBL’s total assets stood at $1.03bn at June 30, up from $997.6m at the end of December 2025.

Invested assets accounted for 72.8 percent of total assets, while total shareholders’ equity stood at $335.9m after $1.2m in dividend distributions to Class A preference shareholders and $4.9m, or $0.20 per share, in dividends paid to Class A ordinary shareholders.

Mr Alexiou said the group’s capital position continued to provide financial flexibility as it met customer and business obligations, regulatory requirements, dividend distributions and future strategic opportunities.

“Looking ahead, we remain confident in our ability to navigate changing market conditions while continuing to serve the needs of our customers and communities,” he said.