Hand-in-Hand Group posts $287.7M profit as insurer returns to profitability

Hand-in-Hand Mutual Fire Insurance Company Limited returned to profitability in 2025, moving from a $303 million loss in 2024 to a marginal profit of $205,559, while its wider group recorded a $287.7 million profit for the year.
According to the company’s 2025 annual financial statements, insurance revenue increased to $1.97 billion in 2025, compared with $1.59 billion in 2024.
The company’s insurance service expenses also rose, reaching $1.20 billion from $1.16 billion in the previous year. However, the net expense from reinsurance contracts held fell to $262.9 million from $221.7 million.
As a result, the company recorded an insurance service result of $504.7 million, a significant improvement from the $109.3 million recorded in 2024.
In an advertisement published in today’s edition of Guyana Times, it was stated that the net investment income increased to $146.3 million from $186.8 million, while the net investment and insurance finance result stood at $154 million, compared with $187.9 million in 2024.
Other income rose to $46.1 million from $31.8 million, while other operating expenses increased to $643.6 million from $590.7 million.
After accounting for interest expense, taxes and other charges, the company recorded a profit after taxation of $205,559, reversing the $303 million loss reported in 2024.
At the group level, insurance revenue increased to $2.15 billion from $1.77 billion, while the insurance service result rose to $552.9 million from $163 million.
The group’s profit after taxation stood at $287.7 million, compared with a loss of $152.6 million in 2024.
The group also recorded total comprehensive income of $553.9 million for 2025, compared with $164.3 million in 2024.
The company’s total assets increased to $10.65 billion at the end of 2025, up from $9.33 billion a year earlier. Group assets rose to $26.57 billion from $24.46 billion.
At year-end, the company’s total equity stood at $4.36 billion, compared with $4.11 billion in 2024. Group equity increased to $8.51 billion from $6.98 billion.
The financial statements were approved by the Board of Directors on September 18, 2026.
Meanwhile, the independent auditors, TSD Lal & Co Chartered Accountants, gave an unqualified opinion on the financial statements, stating that they present fairly, in all material respects, the financial position and financial performance of the company and group in accordance with International Financial Reporting Standards.
However, in its report on legal and regulatory requirements, the auditors noted that while the financial statements comply with the Companies Act and Financial Institutions Act 1995, the Insurance Act 2016, which came into effect in 2018, was not fully complied with by the company and its subsidiary, GCIS Inc.
The auditors stated that the matter was explained in Note 42 of the financial statements.