Sanlam Allianz Holdings (Kenya) PLC has reported a profit before tax of KSh1.315 billion for the financial year ended December 31, 2025, reflecting resilience amid a highly competitive operating environment.
The company attributed the strong performance to disciplined underwriting, prudent expense management, and continued optimisation of its reinsurance structures.
The Group also cited improved operational efficiency, strengthened internal controls, and significant progress in digitisation as key contributors to the positive results.
Group Chief Executive Officer Dr. Patrick Tumbo said 2025 was a transformative year for the company, marked by the successful completion of a rights issue and the corporate rebrand from Sanlam Kenya PLC to Sanlam Allianz Holdings (Kenya) PLC.
He noted that the rebranding followed the continental joint venture between Sanlam and Allianz, aimed at strengthening the company’s market position and expanding its continental reach.
“Our 2025 results demonstrate strong execution of our strategic initiatives, underpinned by the resilience of our core business,” said Dr. Tumbo.
He added that the company’s commitment to digitisation has become a major competitive advantage, with Sanlam Allianz Life now processing most of its new business through digital channels, significantly improving customer experience.
Growth in Pension and Investment Solutions
Dr. Tumbo said innovation and embedded distribution, particularly through Akiba Plus, have positioned the Group to explore new growth opportunities within Deposit Administration Funds.
He noted that the solutions continue to offer strong value to customers, anchored by a 5 per cent minimum guaranteed return and a 14 per cent net return declared in 2025 compared to 15 per cent in 2024.
The Group also maintained a pension payroll of KSh160 million per month for retirees, reinforcing its commitment to financial inclusion and long-term wealth preservation.
Key Financial Metrics Show Stability
Profit after tax stood at KSh832 million, achieved despite declining interest rates that placed pressure on traditional investment yields.
Insurance revenue rose to KSh4.41 billion, demonstrating steady demand for savings and protection products.
The net insurance service result surged by 46 per cent to KSh951 million, driven by improved underwriting performance and stronger claims management.
Net finance expenses from insurance contracts increased to KSh3.88 billion, reflecting financial adjustments and interest credited to policyholders as the company met its long-term obligations. Total assets remained strong at KSh39.37 billion, underscoring the Group’s solid balance sheet.
Rights Issue Strengthens Capital Position
The company’s capital structure also improved significantly during the year, with total capital and reserves rising to KSh4.75 billion from KSh1.92 billion in 2024, largely supported by the successful rights issue.
This capital injection enabled the Group to implement a deleveraging strategy, cutting total borrowings by 66 per cent to KSh1.42 billion from KSh4.22 billion.
As a result, finance costs dropped by 72 per cent, further strengthening the company’s financial position.
No Dividend Declared for Shareholders
The Board of Directors did not recommend the payment of a dividend for the year ended December 31, 2025.
The company said the decision was aimed at preserving capital to support financial stability, business growth, and future expansion opportunities.
Focus on Customer Obsession in 2026
Looking ahead, Sanlam Allianz Holdings said it will focus on customer obsession and delivering technology-driven financial solutions.
The company said the rebranding has created a strong synergy by combining deep local market knowledge with the technical expertise and global standards of Allianz and the pan-African reach of Sanlam across 26 countries.
Management said this positions the company to deliver world-class financial products and expand access to quality financial services for more Kenyans.