Geneva doubles profit

The Geneva Group has announced its net profit before tax (NPBT) totalled $12 million for the year ended March 31, 2026, which is double the prior year’s figure of $6m.

The company says the jump reflects performance gains across all business units, with Quest Insurance accounting for 46 per cent of the $6m rise. 

Its New Zealand lending operations contributed 43 per cent of the increase and FP Tonga was responsible for the remaining 11 per cent.

Net profit after tax for the group rose from $4.6m to $8.6m over the same period, an increase of 87 per cent. Total assets have also grown by 2 per cent from $212m to $217m.

Geneva delivered its trading update to the USX on May 12, noting it has delivered a strong unaudited result for the 2026 financial year, “reflecting a significant improvement in earnings quality, balance sheet strength and operating performance across the group”.

Insurance 

Quest Insurance Group Limited continued its strong performance, delivering NPBT of $10m, up 38 per cent on the prior year. 

Net premium income increased to $62m, a 57 per cent increase from $39m in the 2025 financial year, while the underwriting result grew to $15m, up 36 per cent from $11m. 

“Strong operating cash flows increased Quest’s cash holdings by $5m, or 13 per cent, to $47 million, reinforcing liquidity,” says Geneva. 

“This was achieved despite a 26 per cent year-on-year decline in investment income to $1.5m, reflecting lower market interest rates. 

“The solvency coverage ratio remains robust at 163 per cent, demonstrating prudent capital management.”

Lending

Lending operations in New Zealand and Tonga reported NPBT of about $2m for the latest 12-month period, an improvement of about $3.3m on the previous year. 

“The improved result was primarily driven by enhancements in loan book quality, resulting in lower impairment charges,” explains Geneva. 

“These improvements reflect the successful resolution of legacy portfolio issues from pre-March 2024 that had previously impacted lending performance.

“Looking ahead to FY2027, the lending strategy remains focused on driving sustainable receivable growth through targeted re engagement with introducers, increased relationship manager presence in the market, and maintaining competitive pricing while balancing risk and returns.” 

Balance sheet 

The group notes its balance sheet strengthened further during the 2026 financial year. Total assets were up and gross receivables were about $111m, reflecting a deliberate focus on higher-quality lending 

Total cash also increased by 15 per cent to about $56m and the company says it operates “well within all funding and banking covenants as of March 31, 2026”. 

Outlook

Geneva concludes the past year’s “marked improvement in operating performance” was partly supported by the execution of initiatives aimed at improving lending portfolio quality and risk-adjusted returns.

Strengthening systems, governance and operational discipline, as well as positioning the lending business for scalable and sustainable growth, have also been factors. 

“Looking ahead to FY2027, the group is focused on rebuilding lending volumes in a measured manner, supported by increased relationship manager presence and targeted re-engagement with key introducers,” it adds. 

“Insurance operations are expected to continue to deliver stable earnings and cash generation. 

“The board remains confident that Geneva is now well-positioned to deliver sustainable earnings, maintain strong capital discipline and create long-term value for shareholders.”