Sanlam Allianz Holdings (Kenya) PLC has reported a net profit of KSh124.6 million for the half-year, up from KSh30.9 million in the same period last year, according to its half-year results released on August 13. The listed non-bank financial services provider said the performance came amid higher claims and lower investment returns during the period.

The company reported insurance revenue of KSh2.2 billion for the half-year. It also said gross written premiums (GWP) grew by 32% compared with the same period a year earlier.

The results come at a time when Kenya’s insurance sector continues to grapple with pressure on underwriting margins from claims inflation, while investment income—an important earnings driver for insurers—has faced volatility across asset classes. For listed firms, interim results also serve as a key signal to investors on underwriting discipline, capital strength and growth prospects.

Sanlam Allianz Holdings Kenya Group Chief Executive Officer Dr. Nyamemba Patrick Tumbo said the company is pursuing growth initiatives while seeking to reduce operating costs.

“The business has seen a significant growth of 32% in Gross Written Premiums (GWP) compared to the same period last year,” Dr. Tumbo said while confirming the half-year financials.

He added that the group’s balance sheet had crossed a milestone during the period. “Additionally, the business is fundamentally stronger and better capitalised than it was eighteen months ago, with our balance sheet surpassing KShs 40 Billion for the first time and our solvency ratio closing at 266%, significantly above regulatory minimum requirements,” he said.

Dr. Tumbo outlined the company’s priorities for the second half of the year, linking them to profitability and cost control. “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,” he said.

In product development, the group said it strengthened its retirement and goal-based savings propositions. It cited the launch of the Sanlam Allianz Income Drawdown Fund in February 2026, which it said extended its retirement offering into income drawdown and complemented annuities it had previously introduced in the market.

The company also said it expanded its savings range through a product it identified as Flexi Future Plus, describing it as part of its broader focus on solutions tied to planning, saving and drawing income across different life stages.

For Kenya’s insurance and long-term savings market, the introduction of additional retirement income options such as drawdown funds may intensify competition among insurers and asset managers targeting formal and emerging retirement segments. It also reflects a wider push in the industry toward diversifying products beyond traditional risk cover into investment-linked and retirement solutions, as households seek structured savings amid cost-of-living pressures.

Looking ahead, Sanlam Allianz Holdings said it will continue focusing on product and process innovation, capital efficiency and digitalisation. The company’s next milestones are expected to include updates on cost management, premium growth and the contribution of newer retirement and savings products to revenue in subsequent reporting periods.