August 4, 2026
IronRock Insurance Company Limited (ROC)
Unaudited financials for the six months ended June 30, 2026:
IronRock Insurance Company Limited (ROC) for the six months ended June 30, 2026 reported a 14% increase in Insurance Revenue totaling $1.17 billion compared to $1.03 billion in the corresponding period last year. Insurance Revenue for the second quarter had a 7% increase to close at $577.76 million compared to $539.02 million for the comparable quarter of 2025.
Year to date, Reinsurance Contracts Expense amounted to $756.99 million (2025: $663.41 million), this represents an increase of 14% year over year. Additionally, insurance service contracts expense increased by 4% to $372.65 million compared to $357.67 million for the six months ended June 30, 2025. The company booked insurance service contracts expense of $178.64 million for the second quarter versus $187.89 million reported for the similar quarter of 2025, a 5% decrease.
Year to date, Insurance Service results increased by 368% to close at $42.05 million (2025: $8.98 million), while Investment return increased by 62% from $52.62 million in 2025 to $85.00 million in the period under review.
Other income for the six months ended June 30, 2026, amounted to $14.87 million, a 72% increase relative to $8.64 million reported in 2025. Other income for the second quarter amounted to $13.73 million (2025: $3.68 million). Other operating expenses totaled $104.98 million, a 3% increase from the corresponding period last year (2025: $101.66 million). The Company also recorded a finance charge of $8.27 million (2025: nil) on its lease obligation.
Profit before taxation for the six months ended June 30, 2026, amounted to $28.68 million (2025: loss of $31.42 million). Profit before taxation for the second quarter amounted to $21.71 million (2025: loss of $23.59 million).
No tax charge was incurred for the period under review (2025: $240,000). Profit for the period for the six months amounted to $28.68 million, a significant improvement from the loss of $31.66 million reported in 2025. For the second quarter, profit for the period was $21.71 million (2025: loss of $23.35 million).
Consequently, Earnings Per Share for the six months amounted to $0.13 (2025: LPS: $0.15), while Earnings Per Share for the quarter totaled $0.10 (2025: LPS: $0.11). The twelve-month trailing EPS was $0.22 and the number of shares used in these calculations was 214,000,000.
Notably, ROC’s stock price closed the trading period on August 4, 2026, at a price of $2.00 with a corresponding P/E ratio of 8.94x.
Balance Sheet Highlights
The company’s assets totaled $3.50 billion (2025: $1.81 billion). The movement in total assets was primarily attributable to a 289% increase in “Asset for Remaining Coverage” amounting to $1.89 billion (2025: $486.11 million) and a 71% increase in Cash and cash equivalents to $341.19 million (2025: $199.23 million); these were partly offset by a 7% decline in Investments to $712.12 million (2025: $763.21 million).
Shareholders’ equity was $808.46 million (2025: $781.34 million), representing a book value per share of $3.78 (2025: $3.65).
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