Nura Kemis 
Britam Holdings Plc has posted a 52 per cent rise in pre-tax profit to Ksh7.3 billion for the year ended December 31, 2024.
The strong performance, up from Ksh4.8 billion in 2023, was lifted by the Group’s commitment to operational efficiencies and its diversified revenue streams from both insurance and investments in line with its strategy.
The Group’s insurance revenue increased to Ksh 37.6 billion, reflecting a 3 per cent increase from Ksh 36.4 billion 2023 on the back of a profitable topline growth.
This uplift was bolstered by growth in both the Kenya insurance businesses as well as the general insurance regional business which contributed 27 per cent (Ksh 10.3 billion) of the insurance revenue in the year reinforcing that regional businesses remain a key pillar of Britam’s geographical diversification strategy.
Kenya businesses delivered a pre-tax profit of Ksh 6.1 billion while the regional businesses contributed Ksh 1.2 billion to the Group’s pre-tax profit.
In addition, the Group’s investment strategy, geared towards optimization for competitive returns, resulted in a 163% increase in net investment income to Ksh 30.6 billion.
The Group’s balance sheet remains robust, with total equity increasing to Ksh 29.46 billion from Ksh 25.69 billion in the previous year.This improvement in equity shows Britam’s strengthened financial position and underscores its ability to weather economic uncertainties.
“Britam’s strong performance in 2024 reflects the success of our strategic focus on profitable growth, operational efficiency, and investment optimization.
Our disciplined execution of the EPIC2 strategy continues to drive sustainable value for our shareholders while reinforcing our position as a leading financial services provider in the region,” said Britam’s Group MD & CEO Mr. Tom Gitogo.
