NAIROBI, Kenya – Britam Holdings has reported a 52 per cent increase in profit before tax to Sh3.8 billion for the six months ended June 2026, supported by stronger insurance performance, improved claims management and investment income.
The insurer’s pre-tax profit increased by Sh1.31 billion, from Sh2.5 billion recorded during the first half of 2025, according to financial results released on Friday, August 28, 2026.
Profit after tax also rose sharply, increasing by 53 per cent to Sh2.66 billion from Sh1.74 billion a year earlier.
Insurance revenue rises 13.7 per cent
Britam’s insurance revenue increased 13.7 per cent to Sh22.4 billion, up from Sh19.7 billion in the first half of 2025.
The group attributed the growth to continued expansion across its Life and General Insurance businesses, supported by its distribution and partnership networks across the markets where it operates.
“The growth was driven by continued growth across the Group’s Life and General Insurance businesses and the strength of its distribution and partnership networks across its markets,” Britam said.
The growth in insurance revenue was accompanied by stronger underwriting performance, with the group’s net insurance service result increasing 36 per cent to Sh1.8 billion.
Britam attributed the improvement to tighter underwriting discipline and better claims management across its regional operations.
Investment income strengthens
The group’s interest and dividend income also increased during the period, rising 13 per cent to Sh12 billion.
Britam said the growth was supported by disciplined portfolio management and continued optimisation of its investments.
The stronger insurance and investment performance contributed to the significant increase in the group’s overall profitability during the first half of the year.
Britam assets rise to Sh270.8 billion
Britam’s balance sheet also expanded during the period, with total assets rising to Sh270.8 billion.
Total equity increased to Sh37.6 billion, while the group’s Contractual Service Margin (CSM) grew by 27 per cent to Sh15.6 billion.
The CSM represents expected future profit from insurance contracts and is an important indicator of the profitability embedded in Britam’s insurance business.
The insurer reported a return on equity of 18 per cent, reflecting the improvement in profitability during the six-month period.
First results under ASCEND strategy
The half-year results are the first financial performance reported under Britam’s ASCEND 2026-2030 strategy.
The strategy focuses on customer-centric growth across the group’s markets, with the insurer seeking to strengthen its businesses while improving the value delivered to customers.
Britam Group Managing Director and CEO Tom Gitogo said the results indicated that the company had made a positive start to the new strategy.
“These results give us an encouraging start to our ASCEND Strategy and show that we are moving in the right direction by responding to customers’ needs and translating that into sustainable business growth,” Gitogo said.
The improved financial performance comes as insurers across the region continue to focus on underwriting discipline, investment optimisation and technology-driven distribution to strengthen profitability.
