- Britam Holdings recorded a 52 per cent rise in profit before tax to Sh3.8 billion in the six months to June 2026.
- Profit after tax climbed 53 per cent to Sh2.66 billion during the period.
- Insurance revenue grew 13.7 per cent to Sh22.4 billion, supported by growth in Life and General Insurance.
- The insurer’s net insurance service result improved by 36 per cent to Sh1.8 billion.
- Interest and dividend income increased to Sh12 billion as Britam continued to optimise its investment portfolio.
- Total assets rose to Sh270.8 billion, while equity increased to Sh37.6 billion.
- The results mark the first half-year performance under Britam’s ASCEND 2026-2030 strategy.
Britam Holdings has posted a strong financial performance for the first half of 2026, with its pre-tax profit rising sharply despite continued pressure across the wider business environment.
The insurer reported Sh3.8 billion in profit before tax for the six months ended June 30, up from Sh2.5 billion recorded during the same period last year. The 52 per cent growth was supported by stronger underwriting performance and higher interest and dividend income.
Britam’s insurance operations recorded significant growth during the period, with insurance revenue increasing from Sh19.7 billion to Sh22.4 billion.
The 13.7 per cent rise was supported by continued growth in both Life and General Insurance businesses. The company also pointed to its distribution and partnership networks across its African markets as an important contributor to the improved performance.
The improvement was also reflected in the group’s net insurance service result, which rose 36 per cent to Sh1.8 billion from Sh1.3 billion. Britam attributed the stronger result to improved underwriting performance and greater discipline in managing the insurance business.
The latest figures show that the company’s core insurance operations are becoming a stronger contributor to overall profitability. This comes after Britam reported Sh2.5 billion in pre-tax profit for the first half of 2025, when higher claims costs and a declining yield curve weighed on performance.
Investment income adds to profit
Britam also benefited from growth in interest and dividend income during the six-month period.
The income increased 13 per cent to Sh12 billion, with the insurer attributing the improvement to disciplined portfolio management and continued optimisation of its investments. The stronger performance provided an additional boost alongside the gains recorded in the insurance business.
The group’s investment performance remains an important part of its financial results because Britam operates across insurance and other financial services. Its operations span Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi, giving it exposure to several markets across the region.
The improvement in pre-tax profit was also accompanied by a strong rise in profit after tax. Net earnings increased by 53 per cent to Sh2.66 billion, highlighting the significant improvement in the group’s bottom-line performance.
Britam’s balance sheet also strengthened during the period as total assets increased to Sh270.8 billion.
Total equity rose to Sh37.6 billion, providing the group with a stronger capital base as it continues implementing its new growth strategy. The company also reported a 27 per cent increase in its Contractual Service Margin to Sh15.6 billion.
The Contractual Service Margin represents expected future profits from insurance contracts and provides an indication of the earnings embedded within Britam’s insurance portfolio. The group reported a return on equity of 18 per cent during the six-month period.
The latest financial results are the first to be reported under Britam’s ASCEND 2026-2030 strategy.
The strategy is focused on areas including African expansion, customer-focused growth, operational excellence, partnerships and digitalisation. Britam says the new plan is designed to build on the progress made during its previous five-year strategy while positioning the group for its next phase of growth.
Group Managing Director and CEO Tom Gitogo said the half-year performance provided an encouraging start to the new strategy. He said the company was focused on responding to customer needs while building sustainable growth across its markets.
Britam has also continued investing in new products and digital services. During the first half of the year, the group highlighted developments including a Whole Life Insurance Plan, Britam Trust Fund and a digital marine cargo insurance platform.
The strong half-year figures give Britam a positive platform for the remainder of 2026 as the group seeks to build on its improved underwriting performance and investment returns.
The insurer’s latest results also suggest that tighter execution across its core businesses is beginning to translate into stronger earnings. With its new ASCEND strategy now underway, the group will be looking to sustain the momentum while expanding its presence across African markets.
Britam’s performance comes after the company recorded an 8 per cent rise in full-year 2025 pre-tax profit to Sh7.9 billion, indicating that the business has maintained its return to stronger profitability.
