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Sanlam Kenya
On this page
Company details
- Legal name
- Sanlam Allianz Holdings (Kenya) PLC
- Incorporated in
- Kenya
- Listing
- SLAM on the Nairobi Securities Exchange, active · ISIN KE0000000414 (observed 2026-10-07)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · annual report, signed / final · source
Read with these figures
- Issued under a former name. Same legal entity renamed: shareholders of Sanlam Kenya PLC (registration C.10/46) resolved at the EGM of 9 October 2025 to change the name to Sanlam Allianz Holdings (Kenya) PLC; the FY2025 audited results print 'SANLAM ALLIANZ HOLDINGS (KENYA) PLC (FORMERLY SANLAM KENYA PLC)'.
Full wording and sources
Issued under a former name
Same legal entity renamed: shareholders of Sanlam Kenya PLC (registration C.10/46) resolved at the EGM of 9 October 2025 to change the name to Sanlam Allianz Holdings (Kenya) PLC; the FY2025 audited results print 'SANLAM ALLIANZ HOLDINGS (KENYA) PLC (FORMERLY SANLAM KENYA PLC)'. These FY2024 statements were issued as Sanlam Kenya Plc. Former name: Sanlam Kenya PLC (effective date of the change, the Registrar's certificate, not established). Source: docs/companies/filings/editorial/identity-resolutions.json.
Source: Sanlam Kenya Plc 2024 Annual Report: Inspiring Excellence: Sustaining the Momentum (dated 2025-03-14)
-
Insurance revenue (IFRS 17)
KES 7.36 billion
7,359,029 KES thousands · p90
+6.1% vs 2023
IFRS 17 insurance revenue, as printed: not gross written premiums.
-
Insurance service result
KES 644 million
643,515 KES thousands · p90
−6.2% vs 2023
-
Profit / (loss) for the year
KES 1.05 billion
1,054,887 KES thousands · p90
Moved from loss to profit (FY2023: (126,568) KES thousands)
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Total assets
KES 39.2 billion
39,165,932 KES thousands · p92
+10.7% vs 2023
-
Insurance contract liabilities
KES 27.5 billion
27,535,254 KES thousands · p93
−0.8% vs 2023
-
Total equity
KES 1.92 billion
1,921,137 KES thousands · p93
+121.8% vs 2023
Large amounts are rounded for reading (KES million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in KES thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — annual report, signed / final; reported for the year · source
- FY2023 — annual report, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Insurance revenue | 7,359,029 | 6,936,282 |
| Insurance service expenses | (5,672,959) | (5,048,193) |
| Net expenses from reinsurance contracts | (1,042,555) | (1,201,990) |
| Insurance service result | 643,515 | 686,099 |
| Interest revenue calculated using the effective interest method | 413,872 | 244,768 |
| Other interest income | 2,551,436 | 2,757,142 |
| Other investment revenue1 | 2,307,477 | (1,940,684) |
| Net investment income2 | 5,272,785 | 1,061,226 |
| Net finance expenses from insurance contracts | (3,789,450) | (682,425) |
| Net finance income/(expenses) from reinsurance contracts3 | 42,322 | 9,477 |
| Net financial result4 | 1,525,657 | 388,278 |
| Other operating expenses | (128,478) | (220,937) |
| Other incomes | 355,250 | (6,043) |
| Finance costs | (734,812) | (604,610) |
| Profit/loss before tax | 1,661,132 | 242,787 |
| Income tax expense | (606,245) | (369,355) |
| Profit/(loss) for the year after tax | 1,054,887 | (126,568) |
| Non-controlling interests5 | 95,017 | 34,560 |
| Other comprehensive income for the year net of tax | –6 | –6 |
| Total comprehensive income for the year | 1,054,887 | (126,568) |
| Owners of the parent7 | 959,870 | (161,128) |
| Non-controlling interests8 | 95,017 | 34,560 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (7)
- “Other investment revenue” is an issuer-specific line, not mapped to a shared definition: Note 6; within net investment income.
- “Net investment income”: mapping to a shared definition is uncertain. Printed 'Net investment income': the sum of effective-interest revenue, other interest income and other investment revenue (note 6).
- “Net finance income/(expenses) from reinsurance contracts” is an issuer-specific line, not mapped to a shared definition: Note 6; within net financial result.
- “Net financial result” is an issuer-specific line, not mapped to a shared definition: Net investment income plus net finance expenses from insurance contracts and net finance income/(expenses) from reinsurance contracts.
- “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 12(b); p91.
- “Owners of the parent” is an issuer-specific line, not mapped to a shared definition: p91.
- “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: p91.
Balance sheet
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Property and equipment | 472,664 | 531,750 |
| Right-of-use asset | 33,736 | 64,791 |
| Investment properties | 2,399,680 | 2,479,580 |
| Intangible assets | 1,087 | 8,540 |
| Investments in subsidiaries1 | –2 | –2 |
| Deferred income tax asset | 93,984 | 92,181 |
| Equity securities - At fair value through profit or loss3 | 155,557 | 439,384 |
| Government securities - At fair value through profit or loss4 | 28,864,569 | 26,571,319 |
| Government securities - At amortised cost5 | 1,109,562 | 1,095,918 |
| Loans6 | 74,645 | 86,178 |
| Reinsurance contract assets | 423,411 | 1,153,349 |
| Inventory | 82,055 | 90,108 |
| Current income tax receivable | 269,909 | 227,787 |
| Receivables from intermediaries7 | –2 | 255,201 |
| Receivables and other assets8 | 298,148 | 239,967 |
| Deposits with financial institutions9 | 1,540,386 | 1,561,335 |
| Cash and bank balances | 467,210 | 477,955 |
| Assets held for sale10 | 2,879,329 | –2 |
| TOTAL ASSETS | 39,165,932 | 35,375,343 |
| Issued share capital | 720,000 | 720,000 |
| Statutory fund11 | 3,371,581 | 2,380,139 |
| Retained losses | (2,319,915) | (2,288,343) |
| Shareholder's funds | 1,771,666 | 811,796 |
| Non-controlling interests | 149,471 | 54,454 |
| TOTAL CAPITAL AND RESERVES | 1,921,137 | 866,250 |
| Insurance contract liabilities | 27,535,254 | 27,770,379 |
| General insurance reinsurance contract liabilities | –12 | 53,586 |
| Deferred income tax liability | 1,445,377 | 1,020,059 |
| Lease liabilities13 | 37,644 | 69,670 |
| Provisions | 33,678 | 34,570 |
| Payables and other liabilities14 | 1,210,482 | 903,685 |
| Borrowings | 4,216,156 | 4,657,144 |
| Liabilities directly attributed with the assets held for sale15 | 2,766,204 | –12 |
| Total liabilities | 37,244,795 | 34,509,093 |
| TOTAL EQUITY AND LIABILITIES | 39,165,932 | 35,375,343 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (13)
- “Investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 12(a); Group columns print '-' for both years.
- “Equity securities - At fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Financial assets (note 14).
- “Government securities - At fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Financial assets (note 14).
- “Government securities - At amortised cost” is an issuer-specific line, not mapped to a shared definition: Financial assets (note 14).
- “Loans” is an issuer-specific line, not mapped to a shared definition: Note 13.
- “Receivables from intermediaries” is an issuer-specific line, not mapped to a shared definition: Note 18; printed '-' for 2024.
- “Receivables and other assets” is an issuer-specific line, not mapped to a shared definition: Note 19.
- “Deposits with financial institutions” is an issuer-specific line, not mapped to a shared definition: Note 14; counted in cash and cash equivalents (note 20).
- “Assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 31; printed '-' for 2023.
- “Statutory fund” is an issuer-specific line, not mapped to a shared definition: Note 21.
- “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 10(b); unclassified statement of financial position.
- “Payables and other liabilities” is an issuer-specific line, not mapped to a shared definition: Note 26.
- “Liabilities directly attributed with the assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 31; printed '-' for 2023.
Cash flow
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Cash (utilized in)/generated from operations | (2,336,191) | (1,014,238) |
| Interest on lease payments | (21,546) | (20,271) |
| Income tax paid | (224,852) | (177,526) |
| Net cash flows (used in)/ generated from operations | (2,582,589) | (1,212,035) |
| Purchase of intangible assets | (1,813) | –1 |
| Proceed from disposal of investment property2 | 64,900 | –1 |
| Purchase of property and equipment | (31,307) | (17,468) |
| Loans repaid3 | 11,236 | 6,036 |
| Land and development4 | (1,700) | (412) |
| Purchase of financial assets through profit and loss5 | (2,933,118) | (4,577,129) |
| Purchase of equity securities6 | –1 | (82,988) |
| Purchase of financial assets at amortised cost7 | (207,767) | Not reported in this filing8 |
| Proceeds from disposal of financial assets at fair value through profit or loss9 | 2,180,785 | 2,097,869 |
| Proceeds from disposal of equity securities10 | 352,881 | –1 |
| Proceeds from disposal of financial assets at amortised cost11 | 197,820 | 470,000 |
| Dividend income received12 | 30,197 | –1 |
| Interest received | 4,181,569 | 3,714,192 |
| Net cash flows from investing activities | 3,843,683 | 1,610,100 |
| Principal lease payments | (34,345) | (17,620) |
| Interest paid on borrowings | (1,125,000) | (14,400) |
| Net cash flows used in financing activities | (1,159,345) | (32,020) |
| Increase in cash and cash equivalents | 101,749 | 366,045 |
| Effects of changes in exchange rates | (723) | 25,163 |
| Cash and cash equivalents at start of year | 2,039,290 | 1,648,082 |
| Reclassification to assets held for sale13 | (132,720) | Not reported in this filing14 |
| Cash and cash equivalents at end of year | 2,007,596 | 2,039,290 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (13)
- “Proceed from disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Investing (note 11); printed '-' for 2023.
- “Loans repaid” is an issuer-specific line, not mapped to a shared definition: Investing (note 13).
- “Land and development” is an issuer-specific line, not mapped to a shared definition: Investing (note 16).
- “Purchase of financial assets through profit and loss” is an issuer-specific line, not mapped to a shared definition: Investing (note 14(a)).
- “Purchase of equity securities” is an issuer-specific line, not mapped to a shared definition: Investing; printed '-' for 2024.
- “Purchase of financial assets at amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing (note 14(a)); the 2023 cell is blank.
- Not reported in this filing: Not printed for 2023: the line 'Purchase of financial assets at amortised cost' carries a 2024 amount ((207,767)) only; the 2023 column is left blank (p96, checked on the page image).
- “Proceeds from disposal of financial assets at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Investing (note 14(a)).
- “Proceeds from disposal of equity securities” is an issuer-specific line, not mapped to a shared definition: Investing (note 14(a)); printed '-' for 2023.
- “Proceeds from disposal of financial assets at amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing (note 14(a)).
- “Dividend income received” is an issuer-specific line, not mapped to a shared definition: Investing (note 7); printed '-' for 2023.
- “Reclassification to assets held for sale” is an issuer-specific line, not mapped to a shared definition: Cash and cash equivalents (deposits) reclassified to assets held for sale (note 31), printed between opening and closing cash; the 2023 cell is blank.
- Not reported in this filing: Not printed for 2023: the line 'Reclassification to assets held for sale' carries a 2024 amount ((132,720)) only; the 2023 column is left blank (p97, checked on the page image).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
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Sanlam Kenya Plc 2024 Annual Report: Inspiring Excellence: Sustaining the Momentum
Year ended 31 December 2024 · Annual report · signed / final
Audit: KPMG Kenya (Certified Public Accountants, Nairobi), unmodified opinion · signed
Auditor's sign-off: CPA Maurice Gachuhi (practising certificate P/2699), for and on behalf of KPMG Kenya
Final status: Independent auditor's report to the members of Sanlam Kenya Plc (PDF pp85-89) with an unmodified opinion on the consolidated and separate financial statements (p85), signed by hand above 'For and on behalf of: KPMG Kenya, Certified Public Accountants, Nairobi', engagement partner CPA Maurice Gachuhi (P/2699), 'Date: 14 March 2025.' (PDF p89, page image). The statements were approved by the board on 12 March 2025 and signed by hand by Dr John P N Simba (Chairman) and Dr Patrick Tumbo (Group Chief Executive Officer) under the statement of financial position (PDF p93, page image).
- Document date
- 14 Mar 2025
- Auditor's report
- 14 Mar 2025
- Board approval
- 12 Mar 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- consolidated statements · KES thousands (printed “KShs.'000”)
- 'Purchase of financial assets at amortised cost' and 'Reclassification to assets held for sale' have blank 2023 cells (page images pp96-97); only the 2024 values are read.
- Closing cash is printed after a 'Reclassification to assets held for sale' line ((132,720), 2024) between opening cash and closing cash (p97).
- The consolidated statement of cash flows continues at the top of PDF p97 (net cash used in financing activities through closing cash) under the page heading 'COMPANY STATEMENT OF CASH FLOWS'; the company statement follows on the same page. The first printing of each repeated label on p97 is the consolidated one.
- The issuer is printed as Sanlam Kenya Plc throughout; the directory lists it as Sanlam Allianz Holdings (Kenya) PLC. The document itself does not mention the later name.
Technical details
- File
- 228 pages, with a text layer
- SHA-256
1acb2037c208597ca6178c02f66623ee3510562e36577abf6e15b681da478356- Entity as printed
- Sanlam Kenya Plc (the "Group and Company")
- Issuer copy
- retrieved 2026-10-08T19:51:16Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (16 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.