Listed Non-Bank financial services provider Sanlam Kenya Plc posted a Sh30.9 million net profit in its half-year trading results.
The results, released by the Sanlam Kenya Group CEO, Dr Patrick Tumbo, indicate that the firm accelerated its insurance revenues to Sh3.73 billion, up from Sh3.52 billion posted within the same period last year.
According to Dr Tumbo, the half-year results demonstrate a customer-centric business that is both resilient and well-positioned for sustained growth.
While commenting on the divisional business fundamentals, Sanlam Life Insurance reported a 220% solvency rate at the end of the half-year period, while Sanlam General Insurance’s solvency rate stood at 194%, indicating sound business operations.
“Our financial strength is underscored by a robust balance sheet, with total assets rising to Sh41.3 billion from Sh39.2 billion at 31st December 2024, driven by strategic growth in financial assets and continued prudent management of capital,” he said.
“The recent successful rights issue—raising issued share capital to Sh2.7 Billion—has significantly strengthened our capital base, enhanced solvency and enabled us to pursue growth opportunities with confidence.
Shareholders’ funds more than doubled to Sh3.85 Billion, reflecting improved retained earnings and investor confidence in our strategic direction.”
At the operations level, Sanlam Kenya, a leading general and life insurance solutions provider, he explained, has continued to maintain strong insurance revenue growth, supported by disciplined underwriting and enhanced customer engagement.
Five Sitting Governors And 11 Former Governors Under Probe By EACC For Corruption Related Offenses
