Sanlam half-year net profit rises fourfold to Sh124.6mn
The company said the growth was supported by an increase in insurance revenue to Sh2.2 billion.
Kenyan financial services firm Sanlam Allianz Holdings reported a significant increase in its half-year net profit, rising fourfold to Sh124.6 million for the period ending June 30, 2026. This marked a stark contrast to the Sh30.9 million recorded in the same period last year, according to the company's latest financial report. The substantial growth was primarily driven by a notable surge in insurance revenue, reaching Sh2.2 billion.
Sanlam Allianz Holdings Kenya Group CEO Dr. Nyamemba Patrick Tumbo attributed the company's financial turnaround to its continued emphasis on growth and cost reduction. He shared that the business has become more robust and better capitalized than it was 18 months prior, with the balance sheet now surpassing KSh40 billion for the first time. Moreover, the solvency ratio had reached an impressive 266%, significantly exceeding the regulatory minimum requirements.
Looking ahead, Tumbo outlined the company's strategic priorities for the remainder of the year. These include driving quality insurance revenue, maintaining cost discipline, and converting the firm's new capital base into profitable growth. In February 2026, Sanlam Allianz Holdings launched the Sanlam Allianz Income Drawdown Fund, broadening its retirement solutions to include income drawdown, alongside its established annuity products.
Additionally, the company expanded its savings offerings through the Flexi Future Plus scheme, designed to assist customers in planning, saving, and drawing income across different life stages.
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