Guardian Holdings increases profits by 54%

GUARDIAN Holdings Ltd (GHL) reported a 54 per cent increase in profits for 2023 as compared to the year before, in its summary of consolidated financial statements published on February 14.

The unaudited results said for the year ending December 31, 2023, unaudited profit attributable to equity shareholders was $713 million, a $249 million increase over the same period for 2022 when the company earned $464 million.

For the quarter ending in December, GHL earned $331 million, about $300,000 more than the year before.

Chairman Robert Almeida said in his report that the life, health and pension segments of Guardian Holdings increased its revenue earnings from $2.4 billion in 2022 to $2.7 billion in 2023. The property and casualty segment also increased from $2.4 billion to $2.7 billion. All other business lines saw growth except for its marine segment which saw a six per cent decrease from 2022 to $1.2 billion.

“The group’s strong capitalisation and diversified business model positioned us well to respond to the changing business landscape and to navigate ongoing uncertainties in our investment markets and the macro environment,” Almeida said.

“As the teams continue to implement planned changes the group remains resolute on optimising performance whilst building out the phases of our strategic journey geared toward increased use of digital technology and exploring new markets, products and services.”