Hansard new business and solvency levels rise while overall profits dip - results

Hansard Global plc has posted its results for the year ended 30 June 2025.

In a mixed 12-month period for the company, new business and solvency levels have rise while overall profits have dropped on 2024 levels and assts under administration (AUA) have dipped from £1.15bn at 30 June 2024 to £1.13bn as at 30 June 2025.

The company said in a statement earlier today that new business for FY 2025 totalled £82.4m on a Present Value of New Business Premiums (PVBNP) basis, up 5.9% from £77.8m in FY 2024. APE increased by 17.3% to £12.2m, driven by "strong uptake of the company's Global Select single premium bond product, and early traction from newproducts Ascend and Future Focus".

At the same time profits dropped from £8.5m to £5.1m. Solvency ratio has risen from 149% in 2o24 up to 169%. Hansard's single premium sales rose 72.5% year-on-year, while regular premium sales declined 10.0%, with signs of recovery emerging in the second half, the company said.

Results

IFRS profit before tax was £1.8m (FY 2024: £5.3m), reflecting continued investment in strategic initiatives and elevated litigation defence costs. Underlying profit, excluding non-recurring items, was £5.1m (FY 2024: £8.5m).

Fee and commission income remained stable at £48.2m, supported by strong equity markets and resilient contract holder activity. Investment income rose to £5.0m (FY 2024: £4.7m), benefiting from favourable interest rate conditions and proactive treasury management.

Administrative and other expenses increased to £36.7m (FY 2024: £33.3m), driven by depreciation of the new policy administration system and targeted growth investment.

Value in Force totalled £103.1m as at 30 June 2025 compared to £110.8m at 30 June 2024. This reduction has primarily arisen because the profits earned during the year exceeded the expected future profits from new business written in the same period, the company said.

Litigation

The Group continues to manage legacy litigation exposures with discipline. As at 30 June 2025, writs served represented a net cumulative exposure of €23.8m (£20.4m), consistent with €23.8m (£20.2m) a year earlier.

Five new writs were received during the year (FY 2024: 12), reflecting a notable decline in new claims and highlighting the maturity of the legacy book.

The Group recorded £0.4m in insurance recoveries and continues to expect that several larger claims will be mitigated through insurance. While resolution timelines vary by jurisdiction, the Group remains confident in its legal defences and anticipates further progress in FY 2026 as claims mature and recoveries advance.

2026

Looking to 2026 - the long-awaited launch of the company's Japanese proposition and continued growth in Latin America are expected to support further momentum in FY 2026.

Thomas Morfett, Group Chief Executive Officer, said: "FY 2025 was a year of strategic execution and renewed momentum. We delivered growth in new business, launched award-winning products, and embedded our new policy administration system.

"While IFRS profit declined due to continued investment and litigation costs, our underlying performance remains robust, and our solvency position has strengthened to 169%.

"We are excited about the opportunities ahead, particularly the launch of our Japanese proposition and further expansion in Latin America. Our refreshed strategy-focused on improving our proposition, growing our footprint, and future-proofing our business-positions us well for long-term, sustainable growth."

1  Present Value of New Business Premiums

2  Annual Premium Equivalent

3  Subject to approval at the AGM

DIVIDENDS

The Board has proposed a final dividend of 2.65p per share, maintaining the total dividend for the year at 4.45p (FY 2024: 4.45p). Subject to shareholder approval at the AGM on 5 November 2025, the dividend will be paid on 13 November 2025 to shareholders on the register at 3 October 2025. The ex-dividend date is 2 October 2025.

HALF-YEARLY RESULTS

The results for the half-year ending 31 December 2025 are expected to be published on 5 March 2026.