Old Mutual Holdings PLC has announced a resilient financial performance for the year ended December 31, 2025, posting a profit after tax of Ksh. 856 million. This is a 2% increase from the Ksh. 838 million recorded in 2024 comes despite a dynamic macroeconomic climate.
The Group, which maintains operations in Kenya, Uganda, Rwanda, and South Sudan, saw its consolidated profit before tax reach Ksh. 1.9 billion, bolstered by strengthened capital buffers and strategic treasury management.
The Group’s Asset Management division emerged as a primary engine of growth, delivering a profit before tax of Ksh. 992 million (up from Ksh. 837 million in 2024). This was particularly evident in Uganda, where assets under management surged by 34% due to sustained unit trust inflows.
The Life business similarly displayed robust health, with profit before tax rising to KES 791 million. Group CEO Arthur Oginga attributed these results to disciplined execution and a diversified portfolio.
“Our fundamentals reinforce our confidence in our strategy,” said Oginga. “We have strengthened our capital position, significantly improved our liquidity, and delivered strong growth in life and asset management while continuing to invest in digital innovation.”
A standout feature of the 2025 report is the Group’s aggressive digital expansion. Old Mutual reported a significant jump in e-commerce sales, reaching KES 708 million, up from Ksh. 533 million the previous year.
Perhaps most striking was the performance of the Thrive App, the Group’s wellness ecosystem. Downloads skyrocketed from a modest 3,105 in 2024 to 128,153 in 2025—a more than fortyfold increase that underscores a massive shift in customer engagement.
Key financial indicators
| Metric | 2024 | 2025 | Change |
| Total Assets | Ksh. 74.8 Billion | Ksh. 79.2 Billion | +6% |
| Total Equity | Ksh. 19.7 Billion | Ksh. 20.4 Billion | +3% |
| Cash & Equivalents | Ksh. 11.3 Billion | Ksh. 15.1 Billion | +33% |
| Asset Mgmt ROI | — | 14.37% | Exceeded T-Bill benchmark (12.5%) |
The 2025 fiscal year was also marked by significant corporate restructuring aimed at long-term sustainability:
- Kenya Consolidation: The Group successfully merged its Kenyan life entities, Old Mutual Life Assurance Kenya (OMLAK) and Old Mutual Life Assurance Company (OMLAC).
- Regional Focus: In a move toward disciplined capital allocation, the Group resolved to exit the South Sudan market following a run-off period.
- Digital Integration: In Rwanda, Old Mutual became the first major insurer to integrate with the Irembo e-government platform, gaining access to over 2 million users.
- Fintech Collaborations: Partnerships with Paystack, Airtel Money (via Nxt Pe), and Safaricom’s Ziidi Money Market Fund have streamlined premium payments and expanded the Group’s retail investment footprint.
With a property portfolio valued at Ksh. 20 billion and a strengthened liquidity position, Old Mutual Holdings appears well-positioned to navigate the 2026 fiscal year