Национальная страховая компания Тринидада увеличила долю в Republic Financial Holdings до 21,5%

The National Insurance Board of Trinidad and Tobago (NIBTT) has increased its stake in Republic Financial Holdings Ltd (RFHL) to 21.5%, after purchasing an additional 4.43 million shares in the banking group this week. NIBTT said it acquired 4,430,161 shares, representing 2.7% of RFHL’s issued share capital, through the Trinidad and Tobago Stock Exchange on September 2. The purchase increased NIBTT’s holding from 30,811,955 shares, or 18.8%, as at September 1, to 35,242,116 shares, or 21.5%, as at September 4. The disclosure was made under By-Law 19(2) of the Take-Over By-Law, which requires an investor that has already crossed the 10% ownership threshold to issue a further disclosure when it acquires an additional 2% or more of a company’s outstanding securities. The information required in that disclosure is set out in By-Law 31. “The beneficial ownership of, and control and direction over these shares, are vested with the NIBTT,” a release signed by acting corporate secretary Candice George stated. The disclosure did not state that NIBTT intends to acquire control of RFHL. Instead, it identified the purpose of the latest acquisition as investment. “These shares were acquired throught the Trinidad and Tobago Stock Exchange for investment purposes,” it stated. In RFHL’s 2025 annual report, NIBTT was listed as the company’s second-largest shareholder, with 30,811,955 shares, representing 18.81% of the issued share capital. The National Investment Fund Holding Company Ltd was the largest shareholder, with 49,021,779 shares, or 29.92%. The third largest shareholders in RFHL’s 2025 top ten was Trintrust Ltd, with 11,563,255 shares or 7.06%. NIBTT investments NIBTT was established by an act of Parliament as a body corporate and is governed by a tripartite board comprising representatives of the Government, business and labour, along with an independent chairman. The NIBTT board is chaired by Judy Kalloo. The other members of the board are deputy chairman Zamanath Ali, Rachel Seebransingh Maikhoo, Patricia Dookeeram, Satie Maniram-Khodai, Shurland John, Shinelle Quinlan, Christopher Streete, Mahindra Ramesh Ramdeen, Neela Maharaj and executive director Niala Persad-Poliah. The board has a statutory duty to “operate and manage the system of National Insurance.” The NIBTT is also an important institutional investor in Trinidad and Tobago, managing a multibillion-dollar investment portfolio to support the National Insurance System. That portfolio is increasingly important as the system faces a gap between contributions and benefit payments. For the 2025 financial year, the NIBTT received $5 billion in contributions but paid out $6.6 billion in benefits. “In FY 2025 the total shortfall was $1,627.28 million. Net Realised Investment Income for the year was $1,283.52 million, resulting in $343.76 million in assets being used to bridge the gap between benefit expenditure and total income,” the NIBTT said in its 2025 annual report. NIBTT’s investment portfolio was valued at $26.08 billion as at June 30, 2025, down $940 million, or 3.46%, from the previous financial year. “The decline in the portfolio’s market value was mainly attributable to approximately $246.14 million in unrealised losses as well as the withdrawal of $1.93 billion to finance the National Insurance System deficit during the financial year,” it stated. “At the end of June 2025, the geographical allocation of the NIBTT’s portfolio comprised approximately 66.99% invested in Trinidad and Tobago and 333.01% in North America. In terms of sector exposure the portfolio was primarily concentrated in the Financial (35.5%) and Sovereign (12.79%) sectors at the close of the financial year,” the annual report stated. At the end of fiscal 2024/25, the NIBTT’s equity portfolio was valued at $17.64 billion, representing about 68% of the total fund. That was an increase of $580 million, or 3.42%, from the previous financial year. “The Fund’s locally listed equity portfolio outperformed its benchmark, surpassing the All T&T Index return of -7.69% by 464 basis points. The portfolio remains overweight in Massy and RFHL, both of which delivered strong relative performance for the financial year ended June 2025-outpacing the benchmark by13.34% and 8.02%, respectively. Despite this the local equity market continues to trend downward, constrained by limited liquidity and muted upside potential,” it stated. According to its 2025 annual report, Massy listed the NIBTT as its largest shareholder as at September 30, 2025. NIBTT held 396,021,020 shares in Massy, the report stated. RFHL $1,52b profit For the nine months ended June 30, 2026 RFHL recorded profit attributable to equity holders of $1.52 billion. In announcing the results its chairman Yashmid Karamath stated: “The Group continues to deliver a strong financial performance against a backdrop of evolving economic conditions across our operating territories, demonstrating the strength of our diversified business model and the resilience of our regional franchise.” “RFHL’s financial position remains robust. As at June 30, 2026, total assets stood at $134.6 billion, supported by a well-diversified portfolio of earning assets. Loans and advances amounted to TT$77.4 billion, while customer deposits reached $105.3 billion, reflecting the confidence our customers continue to place in the Group. Shareholders’ equity increased to $17.4 billion, providing a strong capital foundation to support future growth and maintain resilience in an increasingly dynamic environment,” he stated.