Sanlam Allianz Kenya Posts Ksh 124.6 Million Half-Year Net Profit

Listed non-bank financial services provider Sanlam Allianz Holdings (Kenya) Plc has recorded a Ksh 124.6 million net profit for the half-year period, marking a significant increase from Ksh 30.9 million reported during the same period last year.

The company said the performance remained resilient despite higher claims and lower investment returns during the period.

Sanlam Allianz reported insurance revenue of Ksh 2.2 billion during the period, while Gross Written Premiums (GWP) increased by 32% compared to the same period last year.

The company attributed the growth to continued business development efforts aimed at expanding its operations while controlling costs.

Speaking after the release of the half-year financial results, Sanlam Allianz Holdings Kenya Group Chief Executive Officer Dr Patrick Tumbo said the business had become stronger and better capitalised.

“The business has seen a significant growth of 32% in Gross Written Premiums (GWP) compared to the same period last year.”

Tumbo added that the Group’s balance sheet had surpassed Ksh 40 billion for the first time, while its solvency ratio stood at 266%, well above the regulatory minimum requirements.

“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,” Tumbo said.

Also Read: SanlamAllianz Launches New Savings Plan With Guaranteed Returns, Life Insurance Cover

Sanlam Allianz Group Expands Retirement Products

During the period, Sanlam Allianz continued to strengthen its retirement and savings products.

In February 2026, the Group launched the Sanlam Allianz Income Drawdown Fund, expanding its retirement offering to include income drawdown alongside its annuity products.

The company also expanded its savings range through Flexi Future Plus, which is designed to help customers plan and save for different financial goals and life stages.

Also Read: Sanlam Allianz Poaches Former KCB CEO as Chairman as John Simba Retires After 24 Years

Focus on Digitalisation and Growth

Sanlam Allianz said it will continue investing in product innovation, digitalisation and capital efficiency as it seeks to improve its customer offering.

The Group will also focus on controlling operating costs while growing quality insurance revenue.

The company said these efforts are aimed at building a stronger and more sustainable business while delivering value to shareholders.

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Sanlam Allianz Holdings (Kenya) Plc posted a Ksh124.6 million net profit in the first half of 2026, up from Ksh30.9 million recorded in the same period last year
PHOTO/File