Britam Holdings, a leading diversified financial services group reported a 52% increase in half year profit before tax , providing a solid start to its ASCEND 2026-2030 strategy as underwriting revenue and investment income grew. Significantly, the pre-tax profit rose to Kshs. 3.8 billion from Kshs. 2.5 billion the previous year. Additionally, the insurance revenue increased by 13.7% to Kshs. 22.4 billion from Kshs. 19.7 billion. This performance was supported 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 Group Managing Director and Chief Executive Officer Mr. Tom Gitogo said the performance shows the ASCEND strategy, anchored in sustainable African expansion, customer-led innovation, operational excellence, and digital transformation, is translating into stronger business outcomes. “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. “We are strengthening Britam from within while remaining focused on our purpose of safeguarding the dreams and aspirations of our customers across Africa,” he added.
Underwriting performance
The net insurance service result improved by 36% to Kshs. 1.8 billion from Kshs. 1.3 billion, reflecting improved underwriting performance in both the life and general insurance businesses. According to Mr. Gitogo, the improvement in the insurance service result is important because it reflects the underlying health of the Group’s core business. “We will continue to execute with discipline while investing in customer experience, distribution and digital capability to support sustainable growth,” affirmed Mr. Gitogo.
Additionally, the interest and dividend income increased to Kshs. 12.0 billion, supported by disciplined portfolio management and the continued optimization of investments. The total assets on the other hand rose to Kshs. 270.8 billion, while total equity increased to Kshs. 37.6 billion. This highlights the Group’s robust capital position and provides a strong foundation to support future growth opportunities across the region.
Strides
Britam has continued to strengthen its brand position. According to Brand Finance, it is ranked as the eighth strongest brand in Africa, third strongest brand in Kenya and the most valuable insurance brand in Kenya. It has also advanced the digitalisation of marine insurance through the digital marine cargo Insurance platform, supporting the transition to mandatory electronic marine cargo insurance certificates from July 2026.
