Nassau, The Bahamas, March 31, 2025 – Colina Holdings Bahamas Limited (CHBL) has announced robust financial results for the fiscal year ended December 31, 2024, driven by exceptional investment returns and improvements across all business segments.

CHBL reported net income attributable to ordinary shareholders of $39.2 million, or $1.59 per ordinary share, for the twelve months ended December 31, 2024. This marks an increase from $32.3 million, or $1.30 per ordinary share, reported for the same period in 2023.

For the quarter ended December 31, 2024, net investment income totaled $13.8 million. Net investment income for the year amounted to $59.3 million (2023: $66.1 million), boosted by unrealized mark-tomarket gains of $24.8 million. (2023: $22.9 million).

“As we move forward, we anticipate that investment income should return to more typical levels,” said Terence Hilts, Chairman of CHBL. “The recognition of unrealized mark-to-market gains and losses directly in income has increased income variability across reporting periods, affecting comparisons with prior years. While it may introduce greater fluctuations in results, it aligns with international financial reporting standards and enhances financial statement comparability.”

The Company’s insurance service result saw a significant increase, reaching $15.3 million for the twelve months ended December 31, 2024, compared to $4.4 million for the same period in 2023. This improvement was largely due to lower claims costs resulting in reduced insurance service expenses accompanied by an increase in insurance revenue.

“The growth in our insurance service result reflects our disciplined approach to pricing our insurance products while continuing to enhance our service offerings,” Hilts added. “We are also pleased with the strong results of our market-leading investment management and advisory business.”

CHBL has maintained a robust financial position, characterized by prudent management of assets and liabilities. As of December 31, 2024, CHBL’s total assets stood at $887.4 million, with invested assets comprising $652.2 million, or more than 73.5% of total assets. Shareholders’ equity stands at $265.3 million at December 31, 2024, after the company paid dividends of $2.4 million to Class “A” preference shareholders and $6.4 million to Class “A” ordinary shareholders.

“Our focus on delivering value to our customers and shareholders remains unwavering, and we continue to prioritize initiatives that enhance our competitive edge and foster long-term success,” Hilts said. “CHBL’s commitment to innovation, operational effectiveness, and customer service excellence has driven us forward, enabling us to deliver strong financial results and set the stage for future growth in an evolving market environment.”

Hilts extended his gratitude to all shareholders for their steadfast support and dedication. “I would also like to thank our board of directors for their invaluable guidance and our employees for their hard work and dedication. Together, we will continue to build on our successes and strive for even greater accomplishments in the coming year.”

About Colina Holdings Bahamas Limited

Colina Holdings Bahamas Limited (CHBL) is a holding company incorporated in 1993. CHBL subsidiaries provide financial services solutions through the production, distribution, and administration of insurance and investment products. CHBL’s subsidiaries include Colina Insurance Limited (“CIL”), Colina General Insurance Agency & Brokers Limited (“CGIA”), Colina Financial Advisors Ltd. (“CFAL”), and Indigo Insurance (Bahamas) Limited and Indigo Insurance (Cayman) Limited.

CIL is The Bahamas’ largest life and health insurer. CGIA is a general insurance agent and broker. CFAL is a leading investment advisory firm, established to provide financial services including investment management, pension management and administration, corporate advisory services, escrow, registrar and transfer agent services. Indigo is a digital property and casualty insurer, operating in The Bahamas and the Cayman Islands.

CHBL has over $850 million in total assets and over $250 million in total shareholders’ equity. Copies of the full financial statements can be obtained online at www.colina.com