Sanlam Kenya posts a Sh30.9 million half-year profit, to focus on customer excellence

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.

“Our investment portfolio continues to deliver solid returns, with other investment revenue increasing by over 34% year-on-year to Sh3.07 billion, demonstrating the effectiveness of our diversified asset allocation strategy in delivering shareholder value,” Dr Tumbo said.

With a reinforced capital structure, a high-quality investment book, and a commitment to operational excellence, Sanlam Kenya, he said, is well placed to navigate the evolving economic environment.
“Our focus remains on sustainable profitability, deepening customer relationships, and leveraging innovation to unlock value for all stakeholders.”

“We move into the second half of 2025 with optimism, anchored by strong fundamentals, an experienced leadership team, and a clear growth strategy that prioritisesmarket leadership, customer trust, and long-term value creation,” he assured.

The firm’s cost and liability management, he said, remains a key strength, with borrowings reducing sharply from Sh4.2 billion to Sh1.19 billion, further improving our leverage position and creating headroom for future strategic investments.

[22/08, 20:15] Cyrus Ombati Star: Romantic recession? Half of Gen Z adults spend $0 on dating
A few months ago, the U.S. was declared to be in a romantic recession.

Never heard of that term before? Basically, it’s defined by the fact that Americans are becoming less sexually active, less likely to be married and spending more time alone now than in previous decades.
And now, a recent Bank of America surveysuggests that part of what’s causing the downturn is that half of Gen Z adults are spending their money on everything except dating.

The survey found that 53 percent of men and 54 percent of women didn’t spend a dime on dates. In addition, 41 percent cut back on dining out at all.

“Gen Z is challenging the stereotype when it comes to young people and their finances,” said Bank of America’s Holly O’Neill. “Even though they’re facing economic barriers and high everyday costs, they are working hard to become financially independent and take control of their money.”

The survey also highlighted that over the past year, 72 percent of Gen Z implemented measures to improve their financial health, 64 percent focused on reducing expenses and 39 percent received financial support from parents and other family.

“Despite a lack of income, Gen Z finds ways to enjoy the little things, whether celebrating a win or trying to help turn around a bad day,” the survey said.

By The Hill