Sanlam Kenya Plc reported a significant 89% drop in profit after tax to KSh 31.0Mn for the first half of 2025, despite a major recapitalization effort that reshaped its balance sheet. This weak performance was primarily driven by a swing to a loss in insurance service results and a substantial decline in net financial results.

• Profit after tax plummeted by 89% to KSh 31.0Mn from KSh 282.2Mn in H1 2024.
• Sanlam Kenya Plc managed to reduce borrowings by 72% to KSh 1.192Bn after completing a KSh 2.5Bn rights issue.
• The rights issue strengthened shareholders’ funds by 118% to KSh 3.854Bn but diluted earnings per share to 0.10.
• Sanlam Kenya shares dropped nearly 10% to KSh 8.20 on the day of results release, valuing the insurer at KSh 1.31Bn.
• The insurer's core challenge remains restoring profitability despite a strengthened balance sheet.