Old Mutual Holdings PLC has reported a profit after tax of Shs856m for the year ended 31st December 2025, driven by double-digit growth in asset management and strong performance in life business.
This represents a 2% increase from Shs838m recorded in 2024, reflecting the resilience of the Group’s diversified portfolio and disciplined execution in a dynamic macroeconomic environment.
The Group that operates in Kenya, Uganda, Rwanda, and South Sudan recorded a consolidated profit before tax of Shs1.9b, supported by strong performance in the life and asset management businesses, improved treasury management, and strengthened capital buffers.
During the year, total assets grew by 6% to Shs79.2b, up from Shs74.8 billion in 2024, while total equity strengthened by 3% to Shs20.4b from Shs19.7b, reinforcing the Group’s financial stability and long-term capacity to support customers and drive growth.
“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. These fundamentals 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.” Old Mutual Holdings Group CEO Arthur Oginga said.
Strong performance in core businesses
Growth during the year was largely driven by strong performance in the Group’s asset management businesses. Assets under management at Old Mutual Investment Group Uganda grew by 34%, supported by sustained inflows into the unit trust business, contributing to the Asset Management business delivering a profit before tax of Shd992m, up from Shs837m in 2024.
Little-known architect who designed iconic UAP Old Mutual Tower in Nairobi
The Life business also delivered strong growth, posting a profit before tax of Shs8791m, up from Shs681m in the prior year, supported by improved operational efficiency across its core segments.
The Group further strengthened its investment performance through improved treasury management and enhanced asset-liability matching, helping maintain stable returns despite a declining interest rate environment.
Key Financial Highlights
OLDMUTUAL
Controlled Disclosure
Cash and cash equivalents increased by 33% to Shs15.1b from Shs11.3b in 2024, providing enhanced financial flexibility to support growth, digital investment, distribution expansion, and pursue sustainable growth opportunities. across its markets.
e-commerce sales increased to Shs708 million in 2025 from Shs533m in 2024, reflecting growing customer adoption of end-to-end digital journeys and the Group’s continued investment in scalable, technology-enabled distribution.
Asset Management delivered a return on investment of 14.37%, outperforming the 1-year Treasury Bill benchmark of 12.50%, underscoring the strength of the Group’s investment strategy and disciplined portfolio management.
Thrive App downloads increased more than fortyfold, rising from 3,105 in 2024 to 128,153 in 2025, underscoring accelerating digital traction across the Group’s wellness ecosystem.
Corporate milestones
During the year, the Group completed the merger of its Kenya life entities, Old Mutual Life Assurance Kenya (OMLAK) and Old Mutual Life Assurance Company (OMLAC).
The Group also resolved to conclude operations in South Sudan after a run-off period, reflecting disciplined capital allocation and a focus on sustainable. markets.
Old Mutual Rwanda integrated with the Irembo national e-government platform, becoming the first major insurer on the platform and gaining access to over 2 million reaistered users for motor insurance services.
Old Mutual integrated with Paystack to streamline digital payment capabilities, enhancing customer convenience and transaction efficiency across its platforms.
Old Mutual Uganda partnered with Nxt Pe to launch a digital payment solution, enabling customers to pay life insurance premiums and set up standing orders. directly via Airtel Money.
Old Mutual Investment Group Kenya partnered with the Octagon Unit Trust. Scheme and Ziidi Money Market Fund by Safaricom to provide fund management. services, strengthening retail investment access and expanding its asset management footprint.
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