LifeStar Holding plc - Full-Year Results

On 29 April 2021, LifeStar Holding plc published its Annual Report and Financial Statements for the year ended 31 December 2021.

Performance Overview

During 2021, LifeStar Holding generated a pre-tax profit of €1.6 million (2020: loss of €1.1 million) and a total comprehensive profit of €0.7 million (2020: loss of €0.6 million). LifeStar Health Limited recorded a profit before tax of €0.6 million (2020: €1.0 million) as revenues decreased to €1.8 million compared to €2.1 million in 2020. GlobalCapital Financial Management Limited registered a loss before tax of €0.2 million (2020: loss of €0.5 million) as the improved performance relative to the prior year was largely underpinned by the profit made on the sale of book business as well as the income generated through the investment management agreement with LifeStar Insurance plc. On its part, LifeStar Insurance generated a profit before tax of €1.4 million (2020: loss €0.4 million).

In terms of financial position, the total assets held by LifeStar Holding as at the end of 2021 amounted to €170.6 million whilst total liabilities amounted to €145.6 million. Meanwhile, shareholders’ funds contracted by almost 10% to €16.6 million which, in turn, translates into a net asset value per share of €0.554.


In their commentary, the Directors explained how during 2022 the Group continued to undertake restructuring and transformation activity with a view of aligning its operations with the overall strategy and strengthen its capital base. On this basis, LifeStar Holding will now continue exploring ways to strengthen further its foundations whilst also focusing on achieving positive results for the years to come. LifeStar Holding also noted that it is actively seeking new opportunities to further strengthen its revenue generating capacity which could also involve ventures beyond Malta.