Insurer Britam has reported a 52 percent surge in pre-tax profit for the first half of 2026, signaling a strong start for its newly unveiled ASCEND 2026-2030 strategic plan.

Pre-tax profit rose to KSh3.8 billion, up from KSh2.5 billion in the same period last year, driven by double-digit growth in insurance revenue and a significant uplift in investment income, the Nairobi Securities Exchange-listed group announced on Friday.

The results mark a strong start for the ASCEND strategy, which is anchored on sustainable African expansion, customer-led innovation, operational excellence, and digital transformation. 

"These results give us an encouraging start to our ASCEND Strategy and show that we are moving in the right direction," said Tom Gitogo, Britam's Group CEO. 

"We are strengthening Britam from within while remaining focused on our purpose of safeguarding the dreams and aspirations of our customers across Africa."

During the half, insurance revenue grew by 13.7 percent to KSh 22.4 billion, up from KSh 19.7 billion, supported by sustained momentum across both the life and general insurance divisions and the strength of the group's distribution and partnership networks across its seven African markets.

More importantly, the net insurance service result, a key indicator of the underlying health of the core underwriting business, improved by 36 percent to KSh 1.8 billion, compared with KSh 1.3 billion in the prior year. 

According to Gitogo, this improvement "is important because it reflects the underlying health of our core business," adding that the group would continue to execute with discipline while investing in customer experience and digital capability.

The group's investment portfolio also delivered gains with interest and dividend income rising to KSh 12.0 billion. 

Britam attributed the performance to disciplined portfolio management and the continued optimisation of its investment holdings. The strong income from investments helped cushion the group against volatility in the broader economic environment, which has been characterised by elevated inflation and fluctuating currency pressures across the region.

Britam's balance sheet strengthened considerably during the period with total assets expanded to KSh 270.8 billion, while total equity increased to KSh 37.6 billion, underscoring the group's robust capital position. 

"This provides a strong foundation to support future growth opportunities across the region," the group stated.

The half-year results were also accompanied by a string of corporate and strategic milestones. Britam was ranked as the 8th strongest brand in Africa and the 3rd strongest in Kenya, while also being named the Most Valuable Insurance Brand in Kenya by Brand Finance. 

On the sustainability front, Britam's foundation released its inaugural impact report, revealing that it had positively impacted over 172,000 lives and supported the creation of more than 1,628 jobs in nearly two years of operation.

The group also paid out KSh 97.3 million in climate-related claims in 2025, supporting 402,681 farmers and pastoralists affected by shocks across East Africa, highlighting its growing role in climate resilience.

The insurer continued to expand its product suite, launching the Britam Whole Life Insurance Plan for legacy planning, a Trust Fund to facilitate wealth transfer across generations, and expanding its microinsurance offering through the Heshima Farewell Plan developed in partnership with Montezuma Funeral Home. 

Additionally, Britam advanced the digitalisation of marine insurance ahead of the mandatory switch to electronic marine cargo insurance certificates from July 2026.

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