Shareholder Revenue Analysis – 30 June 2025
Financial results for half year ended 30 June 2025 will be published in September 2025
| REVENUE ANALYSIS – H1 2025 vs H1 2024 | |||
|---|---|---|---|
| Actual | Actual | Growth | |
| Six months ended: | 30-Jun-25 | 30-Jun-24 | |
| USD000 | USD000 | ||
| Insurance contract revenue | 84,009 | 73,193 | 15% |
| Rental Income | 4,184 | 4,010 | 4% |
| Income from health services business | 4,552 | 2,196 | 107% |
| Net Interest and other fee income | 1,357 | 1,836 | -26% |
| Assets management services income | 638 | 585 | 9% |
| Other income | 1,121 | 798 | 40% |
| Shareholder revenue | 95,860 | 82,618 | 16% |
Insurance Contract Revenue (ICR) for the period grew by 15% year-on-year, primarily driven by increased customer uptake. The pure USD ICR contribution remained steady at 82% of total revenue, consistent with the prior year. Overall, USD-denominated revenue accounted for 80% of the Group’s total revenue for the period ended 30 June 2025, up from 78% in 2024.
FMHL Group Review of Operations – June 2025
The Group continued to operate profitably during the half year ended 30 June 2025. Significant projects completed during the period included:
Regional Initiatives
- First Mutual Reinsurance has consolidated its presence in Botswana and therefore venturing into East Africa, having completed business registration processes and awaiting approval of the operating license.
- First Mutual Health was granted an operating license in Botswana on 5 May 2025. Business development operations are expected to be launched in H2 2025.
- Diamond Seguros expanded into health insurance in Mozambique.
- Recapitalisation of UGI to enhance operations.
Local Initiatives
- First Mutual Life – Launch of the land backed product (Imba Yangu / Indlu Yami Savings Plan) – The plan provides access to, a residential stand valued from a minimum of USD15K with an option for a tax-free cash benefit equivalent to the sum assured on death or saved amount on maturity. (First Mutual Life).
- First Mutual Wealth – Midlands Park (Zvishavane) – completion of Phase 1 of the Midlands Park encompassing 20 blocks of residential flats and Cluster Houses, delivering 116 family housing units. Due to be officially opened in Q3 2025.
- First Mutual Health Services – Opened full fledged integrated health facility in Beitbridge and expanded service offering in Masvingo and Mutare by adding dental and optometry units.
- First Gold ETF Product – First Mutual Wealth gold exchange traded fund approved. The fund tracks gold assets and gold mining shares that listed on the JSE. The fund is expected to be listed on the VFEX during H2 2025.
Related Download
FMHL Operations Review Presentation for the period ended 30 June 2025.pdf
