Sanlam Allianz Holdings (Kenya) PLC has posted a sharp rise in half-year profitability, with net profit climbing to KSh124.6 million, up from KSh30.9 million recorded during the same period last year.
The listed non-bank financial services provider said the performance came despite higher claims and lower investment returns during the period, with continued business growth and efforts to contain operating costs supporting the bottom line.
Insurance revenue rises as business expands
Insurance revenue increased to KSh2.2 billion, while Gross Written Premiums (GWP) grew by 32% year-on-year, reflecting continued expansion of the insurance business.
The company said its underlying financial position has also strengthened significantly, with the balance sheet surpassing KSh40 billion for the first time.
Its solvency ratio stood at 266%, substantially above regulatory minimum requirements, providing the group with a stronger capital base to support future growth.
Focus shifts to profitable growth
Sanlam Allianz Holdings Kenya Group Chief Executive Officer Dr. Nyamemba Patrick Tumbo said the company has continued to invest in business development while keeping a close eye on costs.
“The business has seen a significant growth of 32% in Gross Written Premiums (GWP) compared to the same period last year,” Tumbo said.
He added that the group’s stronger capital position would allow it to focus on generating sustainable and profitable growth.
“Our focus for the rest of the year is to grow quality insurance revenue, hold the line on costs, and convert our new capital base into profitable growth,” he said.
Retirement solutions get a boost
Beyond its core insurance business, Sanlam Allianz continued expanding its retirement and savings offerings during the first half of the year.
In February 2026, the group launched the Sanlam Allianz Income Drawdown Fund, extending its retirement proposition into income drawdown while complementing its annuity offerings.
The company also expanded its savings solutions through Flexi Future Plus, targeting customers seeking flexible ways to plan, save and generate income at different stages of life.
Digitalisation takes centre stage
Sanlam Allianz said innovation, digitalisation and capital efficiency remain central to its strategy as it seeks to build a more resilient business.
The group is focusing on improving products and processes while strengthening its customer value proposition and creating sustainable returns for shareholders.
With the first half of the year ending with stronger premiums, improved profitability and a significantly expanded capital base, the insurer is now targeting quality revenue growth while maintaining cost discipline through the remainder of 2026.