Britam Posts Ksh 2.5 Billion In Profits Despite Headwinds Along The Way

Britam Holdings Plc has posted a profit before tax of Kshs 2.5 billion for the six months ended June 30, 2025. This performance, achieved in a challenging macro-economic environment marked by a declining yield curve and rising claims costs, underscores Britam’s resilience, strong fundamentals, and customer-first approach.

During the period, the Group recorded an 11% growth in insurance revenue to Kshs 19.7 billion, reflecting strong momentum across both the Life and General insurance businesses. Interest and dividend income also grew by 16% to Kshs 10.6 billion, supported by effective portfolio realignment and prudent investment strategies.

Britam’s balance sheet remained solid, with shareholders’ equity rising to Kshs 31.2 billion, up from Kshs 29.5 billion as at December 2024, reaffirming the Group’s strong capital position.

Commenting on the results, Tom Gitogo, Group Managing Director and CEO of Britam Holdings Plc, said, “Our performance in the first half of 2025 is a clear demonstration of Britam’s resilience and ability to deliver value even in a tough operating environment. Profit before tax stood at Kshs 2.5 billion, mainly due to higher claims and effects of the declining yield curve. Importantly, this reflects our unwavering commitment to our customers, paying claims promptly and standing with them when they need us most.”

Adding, “We are pleased with the double-digit growth in insurance revenues and investment income, which highlights the strength of our core business. Our regional businesses continue to contribute positively to the overall performance in line with our diversification strategy. Looking ahead, we remain confident that as interest rates stabilize and economic conditions improve, Britam is well-positioned to deliver a stronger performance in the second half of the year.”

The review period falls within the last year of Britam’s five-year strategic plan, spanning 2021 to 2025. The results continue to show the effectiveness of the Group’s customer-centric strategy, which has focused on enhancing customer value, driving digital adoption, growing the customer base, and optimizing operational efficiency to generate better returns.

As the group marks its 60th anniversary, it is deepening its investment in customer-centric innovations, such as simplified digital customer onboarding, streamlined customer journeys, and automated underwriting and claims processing to deliver faster, more seamless access to insurance and investment solutions.

Aligned with its growth agenda, Britam has also embedded sustainability principles across its operations. This ensures that its expansion delivers long-term positive impact for customers, communities, and the environment.

Recently, the Group’s General Insurance Business Unit introduced an EV insurance offering, positioning it at the forefront of Kenya’s green mobility shift.

The Board of Directors did not recommend the payment of an interim dividend for the half-year period, with a focus on retaining capital to support growth opportunities and long-term shareholder value creation.

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