Prime Highlights :
- Balance sheet crosses $310 million for the first time, with solvency ratio at 266 percent.
- Company launches Income Drawdown Fund and expands savings range through Flexi Future Plus.
Key Facts :
- Sanlam Allianz Kenya posts $965,000 net profit for H1, up fourfold on 32 percent premium growth.
- Insurance revenue rises to $17 million as company focuses on cost control and capital efficiency.
Background :
Sanlam Allianz Holdings Kenya Plc has reported a net profit of $965,000, around Sh124.6 million, for the half year ended June, up fourfold from $239,000, or Sh30.9 million, in the same period last year. A 32 percent rise in gross written premiums drove the increase.
Insurance revenue for the listed non-bank financial services provider climbed to $17 million, around Sh2.2 billion, during the period, as the wider industry navigated higher claims and softer investment returns.
Group chief executive Dr Nyamemba Patrick Tumbo said the company has sustained ongoing development efforts aimed at accelerating growth while reducing operating costs. He said the business stands fundamentally stronger and better capitalized than it did eighteen months ago, with its balance sheet crossing $310 million, or Sh40 billion, for the first time and its solvency ratio closing at 266 percent, well above regulatory minimum requirements.
Tumbo added that the company’s focus for the remainder of the year centers on growing quality insurance revenue, controlling costs and converting its expanded capital base into profitable growth.
The group continued strengthening its retirement and goal-based savings offerings during the period. In February, it launched the Sanlam Allianz Income Drawdown Fund, extending its retirement lineup into income drawdown and complementing the annuities it introduced earlier in the market. The company backed this with an expansion of its savings range through Flexi Future Plus, reinforcing its focus on solutions that help customers plan, save and draw income across different life stages.
The business said it remains focused on product and process innovation, capital efficiency and digitalization as it works toward building a resilient operation with a competitive customer value proposition and sustainable shareholder returns.
