November 3, 2026
IronRock Insurance Company Limited (ROC)
Unaudited financials for the nine months ended September 30, 2026:
IronRock Insurance Company Limited (ROC) for the nine months ended September 30, 2026, reported a 16% increase in Insurance Revenue totaling $1.82 billion compared to $1.56 billion in the corresponding period last year, driven primarily by continued expansion within the Fire, Liability and Accident segments. Insurance Revenue for the third quarter had a 21% increase to close at $647.36 million compared to $534.82 million for the comparable quarter of 2025.
Reinsurance Contracts Expense amounted to $1.18 billion (2025: $1.02 billion), this represents an increase of 16% year over year. For the third quarter, Reinsurance Contracts Expense was $426.72 million versus $358.05 million. Additionally, insurance service contracts expense increased by 9% to $572.22 million compared to $522.60 million for the nine months ended September 30, 2025. The company booked insurance service contracts expense of $199.05 million for the third quarter versus $164.93 million reported for the similar quarter of 2025, an increase of 21% that management attributed primarily to higher Motor claims costs.
Consequently, Insurance Service results more than tripled to close at $63.12 million (2025: $20.81 million), while Investment return increased by 54% from $77.52 million in 2025 to $119.30 million in the period under review. For the third quarter, Insurance Service results improved by 82% to $21.59 million (2025: $11.83 million) and Investment return increased by 38% to $34.31 million (2025: $24.90 million). The company also recorded a finance charge of $12.32 million (2025: nil), of which $4.05 million was incurred in the third quarter.
Other income for the nine months ending September 30, 2026, amounted to $26.80 million, a 98% increase relative to $13.56 million reported in 2025. Other income for the third quarter amounted to $11.93 million (2025: $4.93 million).
Other operating expense totaled $161.82 million, a 5% increase from the corresponding period last year. (2025: $153.45 million). For the third quarter, other operating expense was $56.34 million, a 9% increase from $51.79 million.
Profit before taxation for the nine months ended September 30, 2026, amounted to $35.08 million (2025: loss of $41.55 million). Profit before taxation for the third quarter amounted to $7.43 million (2025: loss of $10.13 million).
A tax charge of $5.00 million was incurred for the nine months ended September 30, 2026, all of which was recorded in the third quarter (2025: nil). As a result, Profit for the nine months amounted to $30.08 million, a significant improvement from the loss of $41.55 million reported in 2025. For the third quarter, Profit for the period was $2.43 million (2025: loss of $10.13 million).
Consequently, Earnings Per Share for the nine months amounted to $0.14 (2025: Loss Per Share: $0.19), while Earnings Per Share for the quarter totaled $0.01 (2025: Loss Per Share: $0.05). The twelve-month trailing EPS was $0.28, and the number of shares used in these calculations was 214,000,000.
Notably, ROC’s stock price closed the trading period on November 3, 2026, at a price of $4.00 with a corresponding P/E ratio of 14.46x.
Balance Sheet Highlights
The company’s assets totaled $3.04 billion (2025: $1.74 billion). The movement in total assets was primarily attributable to a 226% increase in ‘Asset for remaining coverage’ to $1.43 billion (2025: $439.38 million), a 147% increase in cash and cash equivalents to $442.60 million (2025: $178.90 million), and the recognition of right-of-use assets of $181.44 million (2025: nil), partly offset by a 23% decrease in investments to $610.55 million (2025: $793.69 million).
Shareholders’ equity was $809.58 million (2025: $752.47 million), representing a book value per share of $3.78 (2025: $3.52). Equity rose $27.80 million from $781.78 million at December 31, 2025, reflecting profit of $30.08 million less a $2.28 million fair value loss on investments, with no dividend paid in the period (2025: $19.26 million).
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