KUALA LUMPUR (May 21): MNRB Holdings Bhd (KL:MNRB), the national reinsurer and takaful firm, posted new all-time high earnings in the recently ended financial year thanks to record revenue and lower claims.

Net profit for the 12 months ended March 31, 2026 (FY2026) totalled RM545.39 million, a 38% surge from a year earlier, an exchange filing showed. Revenue, meanwhile, grew 11% to RM3.97 billion driven by takaful and Islamic reinsurance businesses as well as investment income.

Going forward, the reinsurance and retakaful segment is expected to benefit from relatively stable market conditions, supportive pricing dynamics, and awareness of climate-related risks, MNRB said.

The global reinsurance market is entering a ‘softening cycle’, MNRB said, characterised by abundant capital, falling premium rates, and intense competition as reinsurers are eager to underwrite more business.

However, MNRB said key subsidiary Malaysian Re is focusing on Asia Pacific, a region still “abundant for diversified yet profitable growth”.

Within Malaysia, the industry is expected to sustain its growth trajectory, supported by ongoing regulatory enhancements, rising demand for financial protection, and targeted government initiatives under Budget 2026, MNRB said.

In the final quarter of the financial year (4QFY2026), net profit rose 22% to RM113.73 million from the same quarter a year earlier. Revenue climbed 7.9% year-on-year to RM1.09 billion.

The company declared an interim single-tier dividend of five sen per share for FY2026, with the entitlement date set for June 12 and payment on June 26. In FY2025, MNRB paid total dividends of 10 sen per share.

Shares of MNRB fell 3.4% on Thursday to RM2.55, valuing the company that also sells takaful and general takaful at a little under RM2 billion ahead of the results announcement.