December 1, 2025
Ironrock Insurance Company Limited(ROC)
Unaudited financials for the nine months ended September 30, 2025:
Ironrock Insurance Company Limited (ROC) for the nine months ended September 30, 2025, reported a 21% increase in Insurance Revenue totaling $1.56 billion compared to $1.29 billion in the corresponding period last year. Insurance Revenue for the third quarter had a 21% increase to close at $534.82 million compared to $443.35 million for the comparable quarter of 2024.
Reinsurance Contracts Expense amounted to $1.02 billion (2024: 773.82 million), this represents an increase of 32% year over year. Additionally, insurance service contracts expense increased by 10% to $522.60 million compared to $474.36 million for the nine months ended September 30, 2024. The company booked insurance service contracts expense of $164.93 million for the third quarter versus $147.87 million reported for the similar quarter of 2024.
Consequently, Insurance Service results decreased by 48% to close at $20.81 million (2024: $40.30 million), while Investment return decreased by 1% from $78.36 million in 2024 to $77.52 million in the period under review.
Other income for the nine months ending September 30, 2025, amounted to $13.56 million, a 69% increase relative to $8.02 million reported in 2024. Other income for the third quarter amounted to $4.93 million (2024: $7.16 million).
Other operating expense totaled $153.45 million, a 30% increase from the corresponding period last year. (2024: $118.37 million).
Loss before taxation for the nine months ended September 30, 2025, amounted to $41.55 million (2024: profit of $8.31 million). Loss before taxation for the third quarter amounted to $10.13 million (2024: profit of $7.84 million).
No tax charge was incurred for the nine months ended September 30, 2025 (2024: $240,000). As a result, Loss for the nine months amounted to $41.55 million, a significant decrease from the profit of $8.07 million reported in 2024. For the third quarter, Loss for the period was $10.13 million (2024: profit of $7.84 million).
Consequently, Loss Per Share for the nine months amounted to $0.19 (2024: EPS: $0.04), while Loss Per Share for the quarter totaled $0.05 (2024: EPS: $0.04). The twelve-month trailing EPS was $0.15, and the number of shares used in these calculations was 214,000,000.
Notably, ROC’s stock price closed the trading period on November 28, 2025, at a price of $3.48 with a corresponding P/E ratio of 23.96x.
Balance Sheet Highlights
The company’s assets totaled $1.74 billion (2024: $1.52 billion). The movement in total assets was primarily attributable to a 51% increase in ‘Asset for remaining coverage’ amounting to $439.38 million (2024: $290.80 million).
Shareholders’ equity was $752.47 million (2024: $763.36 million), representing a book value per share of $3.52 (2024: $3.57).
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