Sanlam Allianz Kenya Profit 2025: KSh 1.31 Billion Results and Full Financial Report

Listed non-bank financial services provider Sanlam Allianz Holdings (Kenya) Plc has recorded a resilient performance for the year 2025, posting a profit before tax of KSh 1.315 billion, despite a highly competitive operating environment.

The performance reflects disciplined underwriting, prudent expense management, and continued optimisation of the Group’s reinsurance structures.

The company also reported operational efficiency gains, strengthened internal controls, and notable progress in digitisation across its business units.

Strategic Transformation and Rebranding Drive Growth

According to Group Chief Executive Officer Dr Patrick Tumbo, EBS, the 2025 results demonstrate strong execution of strategic initiatives supported by business resilience.

“Our 2025 results demonstrate strong execution of our strategic initiatives, underpinned by the resilience of our core business. 2025 also marked a year of transformation by executing a successful rights issue and launch of our comprehensive corporate rebrand as Sanlam Kenya PLC rebranded to Sanlam Allianz Holdings (Kenya) PLC. The name change follows the continental joint venture between Sanlam, Africa’s largest non-banking financial services entity and Allianz, the global leader in insurance,” said Dr Patrick Tumbo.

He noted that digitisation has become a key competitive advantage for the Group, particularly within its life insurance arm.

“Furthermore, the Group’s commitment to digitization is now a key competitive advantage; Sanlam Allianz Life processes most of its new business through digital channels, significantly enhancing the client’s experience. Progress on innovation, and embedded distribution, particularly through Akiba Plus, have positioned the Group to explore new growth opportunities within Deposit Administration Funds,” he added.

Dr Tumbo further highlighted the performance of savings solutions, noting strong returns for policyholders.

“These solutions continue to deliver superior competitive value, anchored by a 5% minimum guaranteed return and a remarkable 14% net return declared in 2025 (2024;15%). We are also proud to fulfill our social promise by maintaining a pension payroll of KShs 160 million per month for our retirees. These milestones position us as a leader in financial inclusion and long-term wealth preservation,” he said.

Key Financial Performance Indicators

The Group’s diversified revenue base and strong fundamentals were reflected in several key metrics:

• Profit after tax: KSh 832 million, recorded in a macroeconomic environment of declining interest rates that pressured investment yields
• Insurance revenue: KSh 4.41 billion, supported by steady demand for savings and protection products
• Net insurance service result: Increased by 46% to KSh 951 million, driven by improved underwriting and claims management
• Net finance expenses from insurance contracts: Rose to KSh 3.88 billion, reflecting policyholder interest adjustments and long-term obligations
• Total assets: Stood at KSh 39.37 billion, maintaining a strong balance sheet position

Strong Capital Position After Rights Issue

The Group significantly strengthened its capital base during the year following a successful rights issue.

Total capital and reserves surged to KSh 4.75 billion, up from KSh 1.92 billion in 2024, representing a major financial restructuring milestone.

The capital injection supported a deleveraging strategy, with total borrowings reduced by 66% to KSh 1.42 billion, down from KSh 4.22 billion.

This reduction also led to a 72% decline in finance costs, significantly strengthening the company’s balance sheet.

No Dividend Declared for 2025

The Board of Directors announced that it does not recommend the payment of a dividend for the financial year ended 31 December 2025.

The decision, according to the company, is aimed at preserving capital for financial stability and future growth.

Outlook: Digital Expansion and Continental Synergy

Looking ahead to 2026, the Group says it will focus on customer-centric innovation and regional expansion under its rebranded identity.

The firm said the transition to Sanlam Allianz has created strategic synergy, combining local market expertise with continental and global insurance capabilities.

Leveraging its presence across 26 African countries, the Group aims to deepen financial inclusion and expand access to technology-driven insurance and investment solutions across Kenya.