Old Mutual has reported a profit after tax of KES 882 million for the six months ended June 30, 2026. This is an impressive recovery from the KES 5 million the company reported during the same period in 2025.
The Group’s insurance service result moved into positive territory at KES 287 million. This is a positive result compared with a KES 303 million loss in the first half of 2025.
Net investment results also increased to KES 1.9 billion, up from KES 1.7 billion a year earlier. The growth was supported by higher-yielding investments, asset-liability matching and liquidity management.
Old Mutual also reported a 32% increase in assets under management (AUM), which helped drive a 34% rise in commission income, supported by growth in managed funds and higher-yielding portfolios.
Old Mutual Group CEO Arthur Oginga said the results reflect progress made in strengthening the underlying performance of the Group’s businesses.
“Our performance demonstrates the progress we are making in executing our strategy and delivering on our long-term ambitions. We will continue to enhance this performance through new growth engines and a focus on a value led rather than a volume led business,” said Mr Oginga.
Focus shifts to sustainable growth
For the second half of 2026, Old Mutual plans to focus on sustaining the recovery in its insurance business while accelerating growth in investments and asset management.
The Group also expects continued investment in technology, operational efficiency, cost optimisation and balance sheet restructuring.
Chairman Dr Habil Olaka said the Group’s priority is to turn the improved financial performance into sustained long-term profitability and strengthen its capacity to deliver value to shareholders.
He added that a future resumption of dividend payments remains an ambition, subject to the Group’s financial position and applicable regulatory and statutory requirements.
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