Sanlam Allianz Holdings (Kenya) PLC audited results for the fiscal year ended December 31, 2025, has a contrast between internal operational growth and external market pressures. The group’s core insurance service result rose by 45.7% to KES 951.5 million, but had a 22.5% decrease in investment returns, which dropped to KES 3.66 billion, and curtailed overall gains.
The group’s bottom line faced significant pressure from a 22.5% decline in investment returns, which fell to KES 3.66 billion from KES 4.72 billion in 2024. As a result, profit before tax dropped 7.6% to KES 1.31 billion. However, profit from continuing operations posted a 2.4% gain, reaching KES 838 million.
Earnings per share (EPS) saw the most dramatic change, plummeting 69.9% from KES 6.67 to KES 2.01. This decline was not driven by operational weakness but by a sharp increase in the weighted average number of shares used in the calculation from 144 million to over 543.4 million following corporate restructuring and a capital injection. Total comprehensive income also fell 21.1% to KES 832.3 million.
Total equity surged 147.3% to KES 4.75 billion, fueled largely by a rights issue that injected nearly KES 2 billion. Meanwhile, total liabilities were reduced by 7.0% to KES 34.62 billion, while total assets remained nearly flat, edging up 0.5% to KES 39.37 billion.
The life insurance subsidiary, Sanlam Allianz Life Insurance (Kenya) Limited, maintained a capital adequacy ratio of 275%, comfortably above regulatory minimums, though slightly down from 283% in 2024. The unit declared a dividend of KES 800 million for the year, a reduction from the KES 900 million paid out in 2024.
Sanlam’s Dominance in the Investment Sector
Sanlam Allianz continues to dominate Kenya’s Collective Investment Scheme (CIS) sector through the Sanlam Unit Trust Scheme. As of December 31, 2025, the scheme managed KES 144.3 billion in assets under management (AUM), capturing a leading 19.1% share of the total CIS market. The Sanlam Money Market Fund remains the single largest fund in the country, holding KES 114.2 billion in assets and controlling 27.1% of the money market fund segment.
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