Lead image for Britam half-year net profit up 53 per cent to Sh2.66bn.
Britam Holdings net profit for the half-year ended June 2026 rose 53.3 percent to Sh2.66 billion, up from Sh1.28billion in a similar period the previous year, helped by increased underwriting performance and reduced expenses.
The profit growth came as the net insurance service result improved 36 percent to Sh1.76 billion from Sh1.29 billion.
A net insurance service result is an accounting measure that shows an insurance company’s core underwriting profitability by subtracting insurance service expenses from insurance revenue.
Britam’s net insurance finance expenses dropped to Sh10.92 billion from Sh15.96 billion, helping the growth in the bottom line. The group has operations in Kenya, Uganda, Rwanda, South Sudan, Tanzania, Malawi and Mozambique.
Britam CEO Tom Gitogo said the overall performance was driven by sustained growth across the Life and General insurance businesses,
“The improvement in the insurance service result is important because it reflects the underlying health of our core business. We will continue to execute with discipline while investing in customer experience, distribution and digital capability to support sustainable growth,” said Mr Gitogo.
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During the review period, net investment income declined to Sh13.4 billion from Sh17.3 billion a year earlier, partly reflecting changes in financial asset valuations.