Guardian Holdings records $696m in profits

GUARDIAN HOLDINGS LTD reported a $696 million profit after tax in its summary consolidated financial statements for the period ending December 31, 2023, published on April 2.

The figures represented a 48 per cent increase in profits over the same period the year before.

Guardian Holdings chairman Robert Almeida in his report said the earnings per share increased from $2.03 in 2022 to $3 in 2023.

He said the life, health and pension segment contributed to a 12 per cent increase in revenue from $2.409 billion in 2022 to $2.697 billion in 2023.

The property and causality segment also saw a 12 per cent increase, going up to $2.743 billion from $2.457 billion the year before.

Investing activities also saw growth, increasing by $1.1 billion over the year before, to $1.9 billion for 2023.

Increases in net insurance finance expenses to the tune of $774 million and other operating expenses, which increased by $7 million, offset revenue.

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

“As the teams continue to implement planned changes the group remains resolute on optimising performance while building out the phases of our strategic journey.”