Old Mutual posts Ksh.882 million net profit for first half of 2026

The insurer attributed the profit to improved, focused claims management, underwriting discipline, and cost control across the Group, recording a service result of Ksh.287 million and reversing a Ksh.303 million loss reported in the first half of 2025.

Old Mutual Group CEO Arthur Oginga said the results reflect progress made in strengthening the underlying performance of the Group’s businesses.

“Our ambition continues to be our customers’ first choice for sustaining, growing, and protecting their prosperity. This ambition is guided by our strategic pillars of lifestyle and wellness, technology and digital transformation, sustainability, strategic partnerships, and customer experience," he said.

"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."

Likewise, net investment results increased to Ksh.1.9 billion from Ksh.1.7 billion in the corresponding period, supported by selective allocation to higher-yielding investments, asset-liability matching initiatives, and effective liquidity management.

Assets Under Management (AUM) increased by 32%, contributing to a 34% rise in commission income, underpinned by growth in managed funds and a focus on higher-yielding portfolios.

Group Chief Financial Officer Isaiah Gakonyo said the Group remains committed to sustaining its improved performance by driving transformation initiatives, strengthening operational efficiency, and enhancing financial effectiveness across the business.

“These outcomes demonstrate the effectiveness of our strategic interventions in strengthening earnings quality and resilience. We remain focused on asset-liability management, cost optimisation, balance sheet restructuring, and targeted technology investments to profitability,” said Gakonyo.

Group Chairman Dr Habil Olaka said the Group remains focused on sustaining performance amid a challenging economic environment and on strengthening its capacity to deliver long-term value to shareholders.

He said the Group will now focus on sustaining the recovery for the next half of 2026 in accelerating growth across its investment and assets management businesses.