NAIROBI, Kenya Aug 23 – Listed non-bank financial services provider Sanlam Kenya Plc (NSE: SLAM) has reported a Sh30.9 million net profit for the half-year ended June 2025, underscoring its focus on customer excellence, cost discipline, and liability management to sustain growth.
The results, released by Group CEO Dr Patrick Tumbo, show insurance revenues rose to Sh3.73 billion, up from Sh3.52 billion in the same period last year.
Dr Tumbo said the performance reflects a resilient, customer-centric business model. At the divisional level, Sanlam Life Insurance posted a 220% solvency rate, while Sanlam General Insurance recorded 194%, signalling sound 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 prudent capital management,” he noted.
He highlighted the success of Sanlam Kenya’s recent rights issue, which raised the firm’s share capital to Sh2.7 billion, significantly boosting its solvency. Shareholders’ funds more than doubled to Sh3.85 billion, reflecting stronger retained earnings and investor confidence.
At the operational level, Sanlam reported continued growth in insurance revenues supported by disciplined underwriting and enhanced customer engagement. Its diversified portfolio also delivered strong returns, with other investment income rising by 34% year-on-year to Sh3.07 billion.
“With a reinforced capital structure, a high-quality investment book, and a commitment to operational excellence, Sanlam Kenya is well placed to navigate the evolving economic environment,” Dr Tumbo said. “Our focus remains on sustainable profitability, deepening customer relationships, and leveraging innovation to unlock value for all stakeholders.”
He added that borrowings had reduced sharply from Sh4.2 billion to KSh1.19 billion, improving the company’s leverage position and creating headroom for future strategic investments.
Looking ahead, Dr Tumbo expressed optimism: “We move into the second half of 2025 anchored by strong fundamentals, an experienced leadership team, and a clear growth strategy that prioritises market leadership, customer trust, and long-term value creation.”
