Old Mutual half-year profit plunges 99pc on lower rates, insurance losses
The company posted a consolidated profit before tax of Sh380 million, down 66 per cent from Sh1.1 billion in the first half of 2024. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Old Mutual Holdings experienced a dramatic 99 percent plunge in profit after tax from continuing operations for the first half of 2025. This significant downturn was primarily driven by lower interest rates in Kenya and weakened insurance service results.
- Profit after tax from continuing operations plummeted by 99 percent.
- Old Mutual Holdings reported a consolidated profit before tax of Sh380 million, a 66 percent decrease from Sh1.1 billion in the first half of 2024.
- Lower interest rates in Kenya, leading to reduced interest income and fair value losses, along with higher loss ratios in Kenya's life insurance segment, were key contributing factors to the profit decline.
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Old Mutual, Kenya Airways, and HF Group Report Mixed H1 2025 Financial Results - August 2025
Companies reported varied financial performances for the first half of 2025. Old Mutual Holdings PLC reported a sharp profit plunge of 98-99% to KShs 5 million for the half year ended June 30, 2025, citing lower interest rates and weakened insurance service results. Similarly, Kenya Airways reported a significant loss of Sh12 billion, a reversal from a Sh513 million profit a year earlier, attributing the downturn to grounded aircraft and reduced passenger traffic. In contrast, HF Group PLC announced a 134% jump in profit after tax to KSh 624.3 million, a performance that contributed to its banking subsidiary's upgrade to a Tier II bank.
