Old Mutual PLC Posts KES 856 Million Profit as Asset Management and Digital Growth Fuel Expansion

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Old Mutual Holdings PLC has reported a profit after tax of KES 856 million for the year ended December 31, 2025, marking a 2 percent increase from KES 838 million recorded in 2024, as strong performance in asset management and digital platforms drove growth.

The regional financial services group, which operates across Kenya, Uganda, Rwanda, and South Sudan, posted a consolidated profit before tax of KES 1.9 billion. This performance was supported by gains in life insurance, asset management, improved treasury operations, and strengthened capital buffers.

Total assets grew by 6 percent to KES 79.2 billion, up from KES 74.8 billion the previous year, while total equity rose by 3 percent to KES 20.4 billion, reinforcing the Group’s financial stability and long-term growth outlook.

Group CEO Arthur Oginga attributed the results to disciplined execution and a diversified portfolio strategy. He noted that the company had enhanced its capital position, improved liquidity, and continued to invest in digital innovation to support sustainable growth.

Strong core business performance
Growth was largely driven by the asset management segment, with Old Mutual Investment Group Uganda recording a 34 percent increase in assets under management, boosted by strong inflows into unit trusts. The division delivered a profit before tax of KES 992 million, up from KES 837 million in 2024.
The life insurance business also posted robust growth, with profit before tax rising to KES 791 million from KES 681 million, supported by improved operational efficiency across key segments.
The Group further strengthened its investment performance through enhanced treasury management and better asset–liability matching, helping maintain stable returns despite a declining interest rate environment.

Digital growth and financial strength
Cash and cash equivalents rose by 33 percent to KES 15.1 billion, providing the Group with flexibility to fund expansion, digital investments, and new opportunities across its markets.
Digital channels continued to gain traction, with e-commerce sales increasing to KES 708 million from KES 533 million in 2024. The Group’s Thrive App also recorded exponential growth, with downloads surging more than fortyfold from just over 3,000 in 2024 to over 128,000 in 2025—highlighting increased adoption of digital wellness solutions.

Asset management returns remained strong, delivering a 14.37 percent return on investment, outperforming the 1-year Treasury Bill benchmark of 12.50 percent.
Strategic milestones
During the year, Old Mutual completed the merger of its Kenyan life assurance entities, Old Mutual Life Assurance Kenya and Old Mutual Life Assurance Company, streamlining operations and enhancing efficiency.
The Group also announced plans to exit the South Sudan market after a run-off period, signaling a shift toward more sustainable and profitable markets.
In Rwanda, Old Mutual became the first major insurer to integrate with the Irembo platform, gaining access to over two million users for motor insurance services.

Additionally, the company strengthened its digital ecosystem through integrations with Paystack for seamless payments and partnerships in Uganda to enable premium payments via Airtel Money.
In Kenya, Old Mutual Investment Group expanded retail investment access through partnerships with Safaricom’s Ziidi Money Market Fund and the Octagon Unit Trust Scheme.

The results underscore Old Mutual’s continued transformation into a digitally driven, customer-focused financial services provider, positioning it for sustained growth across the region.

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