GamaLife announces half year net profits of €18.5m and a pro forma solvency ratio of 287%
GamaLife issues Tier 2 Subordinated Debt
2025-07-09
Lisbon, 18 September 2025. GamaLife closed the first half of 2025 with unaudited IFRS net profits of 18.5 million euros, compared with 21.7 million euros in the previous year.
The Company’s pre-tax result was 30.8 million euros for H1 2025, compared with 28.5 million euros for H1 2024.
Shareholders equity totalled 241 million euros, a decrease of 40 million euros since December, reflecting the profit for the period offset by the previously announced dividend payment of 60 million euros.
The Company reported total production of 234 million euros for the first six months of the year reflecting a 1.7% increase over the same period of last year.
Unrestricted Tier 1 capital increased by 12 million euros to 582 million euros in the six months to 30 June 2025, with the capital generation of the business partially offset by the 14 million amortisation of transitional measures, which currently total 96 million euros.
Recent Developments
In June 2025, GamaLife redeemed in full its legacy Restricted Tier 1 subordinated debt of 45 million euros resulting in a Solvency Capital Requirement Coverage Ratio of 237% at 30 June 2024.
In early July 2025, the Company issued 125 million euros of Tier 2 subordinated reset notes with maturity in 2035[1]. Accounting for the issue of the T2 notes, the pro forma Coverage Ratio at 30 June 2025 was 287%.
During July, GamaLife also completed the IT migration of the acquired business unit in Italy, thereby completing the creation of independent operations for the branch.
Find HERE the H1 2025 Results release
For more information, see www.gamalife.pt or contact:
Hugo Real | hugo.real@h-advisors.global | 927 997 948 (Press)
Lourenço Galvão | lourenco.galvao@h-advisors.global | 910 127 228 (Press)
investors@gamalife.pt (Investors)
[1] Issued notes have a 10.25-year maturity and an initial fixed interest rate of 5.25%, resetting in 2030, and are listed on the Global Exchange Market (“GEM”) of Euronext Dublin.
