Sanlam Allianz Holdings( Kenya) Group Plc, formerly Sanlam Kenya Plc recorded a 162% increase in Net Profits to KSh 959.3m in 2025 financial year, this solid performance coming against the backdrop of aggressive rebranding and huge financial backing from Allianz SE, a German global fund manager. Sanlam Allianz Kenya also saw its Pre-Tax Profit leap 153.2% to KSh 1.35 billion,
The listed Kenya underwriter is now part of the global SanlamAllianz brand across African markets.
The insurer saw its Total income rise 109.3% to KSh 3.47 billion while the balance sheet size increased by 101.1% to KSh 1.99 billion. Total Equity grew 95.7% to KSh 1.21 billion. Directors of the firm have recommended a 162% increase in dividends to KSh 959 million
Allianz appeared on the scene after Jubilee Holdings exited the general insurance business and terminate its dealings with both Allianz and the Kenya underwriter.
Now, Sanlam Allianz Holdings has taken over all operations previously run by Jubilee Insurance across Kenya, Uganda, Tanzania, Burundi, and Mauritius.
Why Sanlam rebranding adds means to Investors
The rebrand signals a sharper focus. The Kenyan insurer will concentrate on life insurance, pensions, and investments, while SanlamAllianz Holdings runs the general insurance portfolio across East Africa.
With a 71.5% strategic stake held by SanlamAllianz and Hubris Holdings, the Kenyan underwriter is positioned to benefit from scale, integration, and Allianz’s global expertise.
Top Shareholders of Sanlam Allianz Investments Kenya
Baloobhai Patel, a prominent Kenyan business is one of the top individual shareholders at Sanlam Kenya, with a 21% stake through his Aksaya Investments. The billionaire also has stakes in Bamburi cement, Absa Kenya, Williamson Tea, Diamond Trust Bank and Safaricom.
Dr John PN Simba, Chairman of the Sanlam Kenya Board of Directors, owns 106,950 shares at the firm.
Other top shareholders at the underwriter as at 31 December 2024 included Mwangi, Peter Kingori with 2,250,080 shares or 9.78%, Patel, Anjay Vithalbhai with 847,800 shares or 3.68%, Malde, Anilkumar Virpar with 452,550 shares or 1.97%, Mohamed, Adan Abdulla with 389,250 shares or 1.69%, and Mucheru, Elijah with 387,300 shares or 1.68%.
Other owners of the listed underwriter are Maitha, Anthony Leshan with 372,600 shares or 1.62%, Patel Dahilaxmi Mangalbhai with 360,003 shares or 1.56%, Keval Ashvin with 315,000 shares or 1.37%, John Richard Githere with 300,000 shares or 1.30% and Malde, Urvi Harakhchand Virpar with 268,800 shares or a 1.17% stake in Sanlam Allianz Investments Kenya
Sanlam Allianz Investments Kenya Financial Health
The Underwriter undertook a KSh 2.5 billion rights issue to pay off its KSh 4 billion owned to Stanbic Kenya. But while this transaction propped up shareholders’ funds, it also ended up diluting the ownership of the then shareholders by close to 77%, triggering a 43% drop in share prices.
Capital Markets Authority(CMA) later granted majority shareholder Hubris Holdings and SanlamAllianz Africa, an exemption from making a mandatory takeover offer after their control rose to 71.47% through the rights issue.
SanlamAllianz Investments Kenya has since recovered and strengthened its asset base and capitalization levels.
The underwriter’s H1, 2025 financials show an 89% drop in net earnings from KSh 282.8m in 2024 to KSh 30.9m. Earnings per share, an indicator of profitability declined to KSh 0.10 down from KSh 1.88 on H1 2024.
Its balance sheet size grew 5.6% to KSh 41.4 billion while its operating expenses tripled to KSh 63.9 billion in H1 2025 from KSh 20.9 billion in H1 2024.
SanlamAllianz headquartered in South Africa, is a leading fund manager that offers a range of investment solutions, unit trusts, and financial planning services to individuals and institutional clients.
Its range of financial products include the SanlamAllianz USD Fixed Income Fund, three SanlamAllianz Money Market Funds, and the SanlamAllianz Sterling Fixed Income Fund, a three-month instrument offering a return of 1.30%
SanlamAllianz footprint across Africa
SanlamAllianz covers 25 countries in Africa across various lines of business, with positions strengthened in 12 overlapping countries. The footprint include presence in Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Côte de ’Ivoire , Egypt, Gabon, Ghana, Kenya, Madagascar, Malawi, Mali, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Tanzania, Togo, Uganda and Zambia.
SanlamAllianz offers expertise in Life Insurance, General Insurance, Third-party Administration and Asset Management.
ALSO READ: From Sanlam Kenya, a Tech-Powered Retirement Planning Solution
Leave a comment