NAIROBI, Kenya, Aug 28 – Old Mutual Holdings net profit grew by Sh877 million to Sh882 million in the half year ending June 30, 2026, buoyed by a recovery in its insurance business.
In the six months to June last year, the diversified firm posted a profit after tax of Sh5 million.
Its insurance service generated Sh287 million, reversing a Sh303 million loss reported in the first half of 2025, following improved claims management, underwriting discipline and cost control across the Group.
“Our performance demonstrates the progress we are making in executing our strategy and delivering on our long-term ambitions. We will continue to enhance this performance through new growth engines and a focus on a value-led rather than a volume-led business,” said Old Mutual Group CEO Arthur Oginga.
Net investment results increased to Sh1.9 billion from Sh1.7 billion in the corresponding period, supported by selective allocation to higher-yielding investments, asset-liability matching initiatives and liquidity management.
Assets under management (AUM) increased by 32 percent, contributing to a 34 percent rise in commission income, supported by growth in managed funds and higher-yielding portfolios.
Group Chief Financial Officer Isaiah Gakonyo said the Group would focus on improving operational efficiency and financial performance.
“Our first half performance reflects disciplined execution across the Group, delivering improved insurance profitability, stronger net investment results, and sustained growth in asset management. These outcomes demonstrate the effectiveness of our strategic interventions in strengthening earnings quality and resilience,” Gakonyo added.
“We remain focused on asset-liability management, cost optimisation, balance sheet restructuring, and targeted technology investments to profitability,” said Gakonyo.
