Listed non-bank financial services provider Sanlam Allianz Holdings (Kenya) has more than quadrupled its net profit for the first half of 2026, supported by higher insurance revenue and continued efforts to control operating costs.
The company posted a net profit of Sh124.6 million for the six months ended June 30, 2026, up from Sh30.9 million recorded during a similar period last year.
Sanlam Allianz Holdings Kenya attributed the improved performance to growth in insurance revenue, which increased to Sh2.2 billion during the period.
The stronger earnings come as the insurer continues to strengthen its balance sheet and expand its range of savings and retirement products amid growing demand for long-term financial planning solutions.
Sanlam Allianz Holdings Kenya Group Chief Executive Officer Dr Nyamemba Patrick Tumbo said the company had made significant progress in strengthening its financial position while maintaining its focus on profitable growth.
“Most importantly, the business is fundamentally stronger and better capitalised than it was eighteen months ago, with our balance sheet surpassing KSh40 billion for the first time and our solvency ratio closing at 266%, significantly above regulatory minimum requirements,” Tumbo said.
He said the company would focus on growing quality insurance revenue and maintaining cost discipline during the remainder of the year.
“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.
The improved capital position is expected to provide the company with greater capacity to expand its insurance business while meeting regulatory requirements and pursuing new growth opportunities.
Sanlam Allianz has also been expanding its product portfolio as it seeks to cater to changing financial needs among Kenyan consumers.
In February 2026, the company launched the Sanlam Allianz Income Drawdown Fund, expanding its retirement solutions to include income drawdown alongside its existing annuity products.
Income drawdown allows retirees to access regular income from accumulated retirement savings while keeping the remaining funds invested.
The company has also expanded its savings offering through Flexi Future Plus, a product designed to help customers save, plan and generate income at different stages of their lives.
The expansion comes as financial institutions increasingly seek to provide customers with products covering the entire financial lifecycle, from savings and investment to retirement planning.
Sanlam Allianz said the initiatives form part of its broader strategy to deepen its presence in Kenya’s insurance and financial services market while improving long-term value for customers.
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