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Regional financial services provider Guardian Holdings Limited (GHL) recorded net profits attributable to shareholders of TT$201.1 million ($4.39 billion) for the quarter ending June 30, 2020.
This represented a 50 per cent increase over the prior quarter in June 2019 and was a reversal of the TT$36.5 million loss recorded in the first quarter.
After a tumultuous first quarter which saw the group record fair value losses of TT$329 million in their investment activities amid the emergence of the global shutdown, GHL’s primary insurance business saw a two per cent increase in gross written premiums to TT$1.54 billion and net result from insurance activities climb by 186 per cent to TT$370.2 million.
There was a 12 per cent improvement in fee and commission income from brokerage activities to TT$33 million with net income from investment activities falling by 22 per cent to TT$288.9 million.
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