Equity Life Assurance (Kenya) posts 16% profit after tax growth to Ksh 1.24bn as gross written premium rises 40% to Ksh 7.3bn 

Nairobi, 4th May 2026: Equity Life Assurance (Kenya) Limited (ELAK) has published its audited results for the year ended 31 December 2025, reporting stronger profitability, balance sheet growth and continued scale-up of its digital-first distribution model. 

The Company recorded a profit after tax of Ksh 1.24 billion, up 16.2% from 2024, while profit before tax rose 27.5% to Ksh 1.78 billion. Earnings per share improved to 2,954 from 2,542 in the prior year. Gross written premium increased 40% to Ksh 7.3 billion, reflecting higher uptake across protection, savings and retirement solutions. 

Topline performance was supported by growth in both underwriting and investment returns. Insurance revenue increased 45.4% to Ksh 2.08 billion, investment income grew 38.7% to Ksh 4.19 billion, and the net insurance and investment result rose 33.5% to Ksh 1.97 billion. 

ELAK’s balance sheet expanded by 31.6% to Ksh 31.88 billion in total assets, while insurance contract liabilities grew 25.4% to Ksh 24.95 billion, reflecting growth in the underlying book. Liquidity improved, with the current ratio rising to 168% from 159%. The business reported returns of 36% on equity and 4% on assets. Capital adequacy strengthened to 300% from 278% in 2024, supporting long-term commitments to policyholders and retirement members. 

The Deposit Administration Fund closed the year at Ksh 17.34 billion, up 24.8% from Ksh 13.90 billion in 2024. During the year, ELAK received Ksh 3.11 billion in pension deposits, paid out Ksh 1.96 billion in benefits, and credited Ksh 2.56 billion in interest to members, an increase of 26.2%. 

The Company continued to demonstrate distribution strength at scale. By 31 December 2025, ELAK had issued 19.2 million cumulative policies, up 36% from 14.1 million a year earlier, and served 6.9 million unique customers, up 17% from 5.9 million. Digital channels accounted for 79% of policies issued, while Equity Bank’s branch network remained a critical channel for key consumer segments. 

Operationally, ELAK’s investment portfolio expanded in line with balance-sheet growth. Government securities increased to Ksh 23.41 billion. 

The Company’s service delivery was recognised during the year through multiple awards. ELAK was named Life Insurer of the Year at the Think Business Insurance Awards and also won awards for Most Customer-centric Underwriter, Claims Settlement, and Ecosystem Partnerships and Cross-Industry Collaboration. At the Association of Kenya Insurers (AKI) Awards 2025, ELAK received recognition for Group Life Best Loss Ratio and Group Life Insurance Innovation and was first runner-up in the Life Assurance Company of the Year category. 

ELAK has rolled out products designed to scale life protection, savings, and retirement solutions. These include Group Life offerings (such as Group Credit Life and Group Last Expense), Term Life, Education and Goal-Based Savings policies, as well as retirement options like Income Drawdown, the Post-Retirement Medical Fund (PRMF), the Umbrella Retirement Fund, and Deposit Administration. The rollout leverages Equity Group’s distribution network and technology ecosystem to improve accessibility, service quality, and overall customer value.