Old Mutual Holdings PLC has reported a profit after tax of KES 856 million for the year ended December 31, 2025, marking a 2 per cent increase from KES 838 million recorded in 2024, underpinned by strong growth in asset management and life insurance businesses.
The Group’s performance reflects resilience amid a dynamic macroeconomic environment, supported by its diversified portfolio and disciplined execution strategy.
Profit Growth Supported by Core Business Strength
The Group posted a consolidated profit before tax of KES 1.9 billion, driven by solid performance in life and asset management segments, alongside improved treasury management and stronger capital buffers.
Speaking at the investor briefing event on Tuesday, Group CEO Arthur Oginga said the results demonstrate the company’s strategic focus and operational discipline.
“Our performance reflects the resilience of our diversified portfolio and the discipline of our execution in a dynamic operating environment,” he said, noting continued investment in digital innovation and strengthened liquidity.
Balance Sheet Expansion Signals Stability
Consequently, total assets grew by 6 per cent to KES 79.2 billion, up from KES 74.8 billion in 2024, while total equity rose by 3 per cent to KES 20.4 billion from KES 19.7 billion.
Cash and cash equivalents increased significantly by 33 percent to KES 15.1 billion, enhancing the Group’s financial flexibility to support expansion, digital investments, and new growth opportunities across its markets in Kenya, Uganda, Rwanda, and South Sudan.
Asset Management and Life Business Lead Growth
Growth during the year was largely driven by asset management operations, particularly in Uganda, where assets under management rose by 34 per cent due to sustained inflows into unit trusts.
The asset management business recorded a profit before tax of KES 992 million, up from KES 837 million in 2024, with a return on investment of 14.37 percent, outperforming the 1-year Treasury Bill benchmark of 12.50 percent.
Furthermore, the life insurance segment also delivered strong results, with profit before tax increasing to KES 791 million from KES 681 million, supported by improved operational efficiencies.
Digital Channels Gain Traction
Digital growth continued to play a key role in performance, with e-commerce sales rising to KES 708 million from KES 533 million in 2024, reflecting increased customer adoption of digital platforms.
The Group’s wellness platform also saw significant uptake, with Thrive App downloads surging from 3,105 in 2024 to 128,153 in 2025, highlighting expanding digital engagement.
Strategic Milestones and Market Realignment
During the year, Old Mutual completed the merger of its Kenya life entities, Old Mutual Life Assurance Kenya and Old Mutual Life Assurance Company, streamlining operations in the market.
The Group also announced plans to exit South Sudan after a run-off period, signalling a focus on capital discipline and sustainable markets.
In Rwanda, the insurer integrated with the Irembo national e-government platform, becoming the first major insurer on the system and gaining access to over 2 million users for motor insurance services.
Additionally, the company enhanced its digital ecosystem through integrations with Paystack and partnerships in Uganda to enable seamless premium payments via Airtel Money.
Expanding Investment Access
In Kenya, Old Mutual Investment Group partnered with the Octagon Unit Trust Scheme and Ziidi Money Market Fund by Safaricom to provide fund management services, expanding retail investor access and strengthening its asset management footprint.