Helia Group (HLI) Q1 2026 TU earnings summary

Executive summary

• Gross written premium (GWP) declined 32% year-over-year, mainly due to the loss of new business with a major client and increased competition from government schemes.

• Insurance revenue decreased 9% year-over-year, reflecting lower GWP in recent periods.

• Claims remained extremely low, with negative total incurred claims of $9.5m, attributed to lower delinquencies and rising property values.

Financial highlights

• GWP for 1Q26 was $34.5m, down from $51.0m in 1Q25.

• Insurance revenue was $84.3m, compared to $92.6m in the prior year.

• Net investment revenue was negative $2.0m, impacted by bond portfolio losses due to rising interest rates and wider credit spreads.

• Statutory net profit after tax (NPAT) was $42.9m, down from $68.2m year-over-year.

• Prescribed Capital Amount (PCA) coverage ratio was 1.85x, slightly lower than 1.91x in the prior year.

Outlook and guidance

• Lower GWP is expected to continue impacting insurance revenue in future periods.

• Regulatory capital base remains well above requirements, despite a decrease due to dividend payments.