NAIROBI, Kenya, Mar 26 – Liberty Kenya Holdings has announced a 108.5 percent rise in profit after tax, reaching Sh1.402 billion, up from Sh672 million in 2023 for the financial year ending December 31, 2024.
The company attributes the growth to strong investment gains, increased insurance earnings, improved claims experience, and disciplined cost management.
Likewise, the Group’s earnings per share more than doubled, rising by 112 percent to Sh2.59 from Sh1.22 in the previous year.
Liberty Kenya’s net investment income also grew by 233 percent to Sh4.741 billion in 2024, compared to Sh1.424 billion in 2023, driven by a recovery in capital markets and favorable interest rate movements in the latter part of the year.
Meanwhile, the Group’s insurance revenue grew to Sh10.95 billion, while insurance service expenses slightly declined by 1.1 percent to Sh8.53 billion from Sh8.62 billion in 2023.
As a result, Liberty Kenya’s insurance service resulted in Sh1.004 billion, a 5.6 percent growth from the Sh951 million reported the previous year.
Similarly, the group’s total assets expanded by 10% to Sh48.15 billion, up from Sh43.76 billion in 2023.
“Our strong 2024 performance reflects our consistent focus on delivering sustainable growth while protecting and growing our clients’ wealth,” Liberty Kenya Holdings Group Chief Executive Officer Kieran Godden said.
“Despite operating in a complex macroeconomic environment, our teams delivered exceptional results by combining prudent risk management, customer-centric innovation, and strong investment returns.”
