Old Mutual Holdings on Tuesday reported a Sh856 million profit after tax for 2025, driven by strong asset management and life insurance performance.
The firm recorded growth in assets, digital sales, and app usage, alongside key regional partnerships and restructuring. The results highlight resilience and continued investment in digital innovation across its East African operations.
The performance, according to the company, was driven by double-digit growth in its asset management business and strong results in its life insurance segment, reflecting resilience in a challenging economic environment.
The group, which operates across Kenya, Uganda, Rwanda and South Sudan, posted a consolidated profit before tax of Sh1.9 billion.
This was supported by gains in life and asset management businesses, improved treasury management, and strengthened capital buffers.
Total assets grew by 6% to Sh79.2 billion, up from Sh74.8 billion in the previous year. Meanwhile, total equity rose by 3% to Sh20.4 billion, reaffirming what the firm described as its “financial stability and long-term capacity to support customers and drive growth.”
Group Chief Executive Officer Arthur Oginga said the results highlight the strength of the company’s strategy and diversified operations.
“Our performance reflects the resilience of our diversified portfolio and the discipline of our execution in a dynamic operating environment. We have strengthened our capital position, significantly improved our liquidity, and delivered strong growth in life and asset management position while continuing to invest in digital innovation,” he said.
He added that these gains “reinforce our confidence in our strategy and position us to deliver sustainable long-term value for shareholders while continuing to stand firmly with our customers.”
A significant contributor to the group’s growth was its asset management division. Assets under management at Old Mutual Investment Group Uganda rose by 34%, driven by sustained inflows into unit trust products.
This helped the asset management business deliver a profit before tax of Sh992 million, up from Sh837 million in 2024.
The life insurance segment also posted strong growth, with profit before tax increasing to Sh791 million from Sh681 million in the prior year. The company attributed this to improved operational efficiency across its core segments.
The group further enhanced its investment performance through improved treasury management and better asset-liability matching, enabling it to maintain stable returns despite a declining interest rate environment.
Cash and cash equivalents rose significantly during the period, increasing by 33% to Sh15.1 billion from Sh11.3 billion in 2024.
The company said this provides greater financial flexibility to support growth initiatives, including digital investments and expansion of distribution channels.
Digital channels continued to play a growing role in the group’s operations. E-commerce sales rose to Sh708 million in 2025 from Sh533 million a year earlier, reflecting increased customer adoption of digital services.
The group also reported a sharp rise in usage of its Thrive App, with downloads increasing more than fortyfold from 3,105 in 2024 to 128,153 in 2025, signalling accelerating uptake of its digital wellness platform.
In investment performance, the asset management business recorded a return on investment of 14.37%, outperforming the one-year Treasury Bill benchmark of 12.50%.
The company said this demonstrates the strength of its investment strategy and disciplined portfolio management.
During the year, Old Mutual also undertook several strategic initiatives aimed at strengthening its operations and expanding its reach.
These included the completion of a merger between its Kenya life entities, Old Mutual Life Assurance Kenya and Old Mutual Life Assurance Company.
The group also announced plans to exit South Sudan after a run-off period, describing the move as part of disciplined capital allocation and a focus on sustainable markets.
In Rwanda, the company integrated its services with the Irembo national e-government platform, becoming the first major insurer on the platform and gaining access to over two million registered users for motor insurance services.
Further digital partnerships were also rolled out across the region. The company integrated with Paystack to improve payment efficiency, while its Uganda arm partnered with Nxt Pe to enable customers to pay life insurance premiums through Airtel Money.
In Kenya, Old Mutual Investment Group partnered with the Octagon Unit Trust Scheme and Ziidi Money Market Fund by Safaricom to expand access to retail investment products and strengthen its asset management footprint.