Old Mutual Holdings PLC today reported a profit after tax of Kshh856 million ($6.6 million) for the year ended December 31, 2025.

On Tuesday, the Kenya currency (shilling) traded at Ksh129.65 to the $1.

The profit was driven by double-digit growth in asset management and strong performance in life business and represents a two percent increase from Ksh838 million recorded in 2023.

Old Mutual East Africa Group is a provider of broad financial services, including insurance, investment, banking and savings solutions.

The group that operates in Kenya, Uganda, Rwanda and South Sudan recorded a consolidated profit before tax of Ksh1.9 billion, supported by strong performance in the life and asset management businesses, improved treasury management and strengthened capital buffers.

Speaking during the investor briefing to share an update on the group’s financial performance and strategic outlook, Old Mutual Holdings Group CEO Arthur Oginga said their performance reflects the resilience of their diversified portfolio and discipline of execution in a dynamic environment.

During the year, total assets grew by six per cent to Ksh79.2 billion, up from Ksh74.8 billion in 2023, while total equity strengthened by three per cent to Ksh20.4 billion from Ksh19.7 billion, reinforcing the group’s financial stability and long-term capacity to support customers and drive growth.

“We have strengthened our capital position, significantly improved our liquidity, and delivered strong growth in life and asset management position while continuing to invest in digital innovation,” he said, adding that these fundamentals reinforce their confidence in their strategy and position them to deliver sustainable long-term value for shareholders while continuing to stand firmly with their customers.

According to management, their growth during the year was largely driven by strong performance in the group’s asset management businesses. Assets under management at Old Mutual Investment Group Uganda grew by 34 per cent, supported by sustained inflows into the unit trust business, contributing to the asset management business delivering a profit before tax of Sh992 million, up from Sh837 million in 2024.

The Life business also delivered strong growth, posting a profit before tax of Ksh791 million, up from Ksh681 million in the previous year, supported by improved operational efficiency across its core segments.

The group further strengthened its investment performance through improved treasury management and enhanced asset–liability matching, helping maintain stable returns despite a declining interest rate environment.

The key highlights of the growth saw cash and cash equivalents increasing by 33 per cent to Ksh15.1 billion from Ksh11.3 billion in 2024, providing enhanced financial flexibility to support growth, digital investment, distribution expansion, and pursue sustainable growth opportunities across its markets.

On e-commerce, sales increased to Ksh708 million in 2025 from Ksh533 million in 2024. Asset management delivered a return on investment of 14.37 per cent, outperforming the one-year Treasury Bill benchmark of 12.50 per cent, while Thrive App downloads increased more than fortyfold, rising from 3,105 in 2024 to 128,153 in 2025, underscoring accelerating digital traction across the group’s wellness ecosystem.

During the year, the group completed the merger of its Kenyan life entities, Old Mutual Life Assurance Kenya (OMLAK) and Old Mutual Life Assurance Company (OMLAC) and resolved to conclude operations in South Sudan after a run-off period, reflecting disciplined capital allocation and a focus on sustainable markets.

Old Mutual Investment Group Kenya partnered with the Octagon Unit Trust aScheme and Ziidi Money Market Fund by Safaricom to provide fund management services, strengthening retail investment access and expanding its asset management footprint.

• A Tell Media / KNA report / By Wangari Ndirangu