Sanlam Allianz Kenya posts KSh124.6M half-year profit

Kenya's listed non-bank financial services provider, Sanlam Allianz Holdings (Kenya) Plc, reported a net profit of KSh 124.6 million for its half-year results released on Wednesday. The insurance revenue reached KSh 2.2 billion, with the net profit increasing from KSh 30.9 million in the same period last year. This growth is attributed to higher claims and lower investment returns during the period.

Sanlam Allianz Holdings Kenya Group Chief Executive Officer, Dr. Nyamemba Patrick Tumbo, confirmed the half-year financials and highlighted the company's ongoing business development efforts aimed at accelerating growth while reducing operating costs. The company witnessed a 32% increase in Gross Written Premiums (GWP) compared to the same period last year.

Dr. Tumbo emphasized that the business is now stronger and better capitalized, boasting a balance sheet of over KSh 40 billion for the first time and a solvency ratio of 266%, which significantly exceeds regulatory minimum requirements.

Looking ahead, the group aims to grow quality insurance revenue, maintain cost controls, and convert its new capital base into profitable growth. During the period, Sanlam Allianz Holdings further strengthened its retirement and goal-based savings propositions. In February 2026, it launched the Sanlam Allianz Income Drawdown Fund, expanding its retirement offerings into income drawdown and complementing its pioneering annuities in the market.

Additionally, the company expanded its savings range with the introduction of Flexi Future Plus, reinforcing its focus on solutions that assist customers in planning, saving, and drawing income throughout different life stages.

Sanlam Allianz Holdings continues to prioritize innovation in products and processes, capital efficiency, and digitalization to create a robust business that offers competitive customer value while delivering sustainable benefits to shareholders.