Colina Holdings Bahamas Limited, parent company of Colina Insurance Limited, Colina General Insurance Agents & Brokers Limited and CFAL Ltd., has reported that the company has been able to maintain its leading market position and stable financial results for 2014. Robust results over successive quarters of the year continued to reflect consistent profitability, yielding a six percent year-over-year increase in net income attributable to equity shareholders and a $27.9 million growth in the company's asset base.

Net income attributable to the company's equity shareholders totaled $14.5 million, compared to $13.7 million in 2013. Basic earnings per ordinary share for 2014 were $0.49 per share, compared to $0.47 per share in 2013. Total revenues increased by 4.4 percent to $170.0 million, compared to $162.9 million for 2013.

"I am pleased to report another year of strong financial results for CHBL. In 2014, our management team, sales force and employees continued to be committed to achieving the company's goals as a market leader, delivering a performance that returned sound value and high quality service for our customers and shareholders," said CHBL Chairman Terence Hilts.

The company's ordinary equity continues on an upward trend, rising to $99.4 million at December 31, 2014, compared to $91.5 million at December 31, 2013. The increase in ordinary equity of $7.9 million, or 8.6 percent, is net of distributions to ordinary shareholders of $0.20 per share in 2014 and preference share dividends of $0.06 per share. Total assets have increased to $633.4 million from $605.5 million at December 31, 2013. Invested assets remain a significant proportion of the asset base, comprising 84.6 percent of total assets.

"I express gratitude to my fellow directors for their diligence and expertise in the strategic and financial management of CHBL in 2014," added Hilts. The board has confidence that CHBL's management, strategy and people will enable the company to operate in the best interests of all stakeholders and to deliver on our service promise to our loyal customers."

Colina Holdings Bahamas Limited acts as the holding company of Colina Insurance Limited, a wholly owned life and health insurer; Colina General Insurance Agents & Brokers Ltd., a property and casualty agency, and CFAL Ltd., an investment management and corporate advisory firm. CHBL holds more than $630 million in total assets and over $150 million in total equity.

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