Sanlam Kenya Posts KSh 30.9 Million Half-Year Profit

Sanlam Kenya Plc has posted a net profit of Ksh 30.9 million for the half-year period, bouncing back on the strength of higher insurance revenues and strong investment returns.

The listed non-bank financial services provider grew its insurance revenues to KSh 3.73 billion, compared to Ksh 3.52 billion in the same period last year.

Group Chief Executive Officer Dr Patrick Tumbo said the numbers reflect a resilient and customer-focused business that is positioned for long-term growth.

“Our financial strength is underscored by a robust balance sheet, with total assets rising to KShs 41.3 billion from KSh 39.2 billion at 31st December 2024, driven by strategic growth in financial assets and continued prudent management of capital,” he noted.

Sanlam Life Insurance closed the period with a 220 per cent solvency rate, while Sanlam General Insurance recorded 194 per cent, a performance Tumbo said signalled solid fundamentals across the business.

The CEO also credited the company’s successful rights issue for boosting its capital base.

“The recent successful rights issue raising issued share capital to Ksh 2.7 billion has significantly strengthened our capital base, enhanced solvency and enabled us to pursue growth opportunities with confidence. Shareholders’ funds more than doubled to Kshs 3.85 billion, reflecting improved retained earnings and investor confidence in our strategic direction,” he said.

Beyond insurance revenues, the firm’s investments delivered a strong lift, with other investment income climbing by more than 34 per cent year-on-year to Ksh 3.07 billion. Tumbo described this as proof of “the effectiveness of our diversified asset allocation strategy in delivering shareholder value.”

Sanlam Kenya also reduced its borrowings significantly, from Ksh 4.2 billion to Kshs 1.19 billion, easing pressure on its balance sheet and creating room for future strategic investments.

“We move into the second half of 2025 with optimism, anchored by strong fundamentals, an experienced leadership team, and a clear growth strategy that prioritises market leadership, customer trust, and long-term value creation,” Tumbo said.

The company, one of Kenya’s leading life and general insurance providers, now banks on innovation, operational efficiency and a solid capital position to drive sustainable profitability in a competitive market.