Nassau, The Bahamas – May 29, 2025 – Colina Holdings Bahamas Limited (CHBL) today announced its unaudited financial results for the first quarter ended March 31, 2025, demonstrating resilience and strategic focus in delivering value to its olicyholders, clients, and shareholders.

CHBL reported a net income attributable to ordinary shareholders of $12.9 million, or $0.52 per ordinary hare, for the three months ended March 31, 2025. This represents an increase from the $10.7 million, or $0.43 per ordinary share, reported for the same period in 2024.

Comprehensive income for equity shareholders totalled $13.5 million for the current period, compared to $11.3 million for the period ended March 31, 2024.

The insurance service result for Q1 2025 showed a $1.8 million increase, reaching $7.9 million compared to $6.2 million in the same quarter of the previous year.

“CHBL’s life and health and general insurance subsidiaries have contributed positively to the growth in insurance service result,” said Terence Hilts, CHBL’s Chairman of the Board.

Net investment income for Q1 2025 reflects notable changes in comparison to the same quarter in the prior year, due primarily to mark-to-market adjustments. These fair value changes, while non-cash in nature, are required under the applicable accounting standards and reflect fluctuations in market conditions rather than realized gains or losses. As a result of unrealized fair value loss adjustments, net investment income totalled $9.1 million in Q1 2025 compared to $12.7 million for the same period in the prior year.

CHBL has increased its total assets to $901.6 million as of March 31, 2025, from $886.7 million at December 31, 2024, with invested assets comprising 72.4% of total assets (73.6% – December 31, 2024). Shareholders’ equity stood at $281.2 million as of March 31, 2025, net of dividend distributions to the Class “A” preference shareholders ($0.6 million) for the period.

“The first quarter has laid a strong foundation for the year ahead, and CHBL remains committed to strengthening its balance sheet and capital position, reinforcing long-term value for all of its stakeholders,” said Hilts.

Looking ahead, the Company is excited about the opportunities that the acquisition of Saxon Holding Company Ltd. and Saxon Administration Ltd. will bring to its organization, significantly expanding CHBL’s regional footprint and strengthening its capabilities in property and casualty insurance and pension administration.

“The Saxon team’s talent, drive, and dedication to superior service are a perfect fit with CHBL’s values and vision,” added Hilts. “Together, we are poised for continued, disciplined execution of CHBL’s strategic objectives and well-positioned to build on these Q1 2025 results.”

“We thank all of our stakeholders for their ongoing trust and support as we move forward with focus and determination, enhancing the health, wealth, and financial security of our customers like never before,” Hilts concluded.