Equity Group Holdings Plc is rewriting the insurance playbook in Kenya. By unifying life, health, and general insurance under one roof, the Group is delivering on its promise of holistic financial solutions for all.
This bold transformation, anchored in Equity’s growth and diversification strategy, is reshaping how Kenyans access, experience, and benefit from insurance.
At the heart of this evolution is Equity Life Assurance Kenya (ELAK), whose rapid growth and digital-first approach are setting new benchmarks for innovation, inclusion, and impact.
Delivering Impact Through Growth
Equity’s insurance business posted stellar results in the first half of 2025, underscoring strong market demand and operational excellence. Profit Before Tax surged by 26% to Kshs. 932 million, powered by a 115% increase in gross written premiums, rising from Kshs. 2.414 billion to Kshs. 5.181 billion. Insurance revenue climbed by 59%, while total assets expanded by 40% to Kshs. 31.48 billion.
Profit After Tax also rose by 27%, reaching Kshs. 660 million. These figures reflect the Group’s ability to scale sustainably while deepening customer trust.
“We are not just selling insurance—we are building resilience,” said Equity Life Assurance (Kenya) Limited Managing Director, Angela Okinda, highlighting the Group’s mission to democratize access to financial protection.
ELAK’s performance was particularly impressive. Gross written premiums grew by 58% to Kshs. 3.8 billion, while net insurance and investment revenue rose by 18% to Kshs. 953 million. Profit Before Tax increased by 20% to Kshs. 890 million, and insurance contract liabilities grew by 22% to Kshs. 23 billion.
With total assets now at Kshs. 28.6 billion, ELAK boasts a Return on Equity of 40.7% and a Return on Assets of 4.7%. In just three years, it has reached 6.7 million unique customers and issued 16.6 million policies—80% of which were delivered digitally.
This digital-first model is not just a tech upgrade—it’s a strategic lever for scale, efficiency, and inclusion.
Expanding the Protection Suite: Health and General Insurance
Equity’s insurance journey is far from linear. In July 2025, the Group acquired a health insurance license, completing its transition into a fully composite insurer. This move enables Equity to offer affordable, quality medical coverage that complements its life and general insurance offerings.
“Health is wealth, and we are committed to protecting both,” noted the Group in its Insurance Supplement 2025, reinforcing its role in safeguarding families, businesses, and communities.
Equity General Insurance, launched in 2024, is already making waves. Within just six months, it recorded Kshs. 1.36 billion in gross written premiums and generated Kshs. 640 million in insurance revenue. The unit posted a Profit Before Tax of Kshs. 32 million, with a 6.6% Return on Equity and 2.8% Return on Assets.
From motor and property to fire, theft, and liability insurance, Equity General is filling critical protection gaps for individuals, MSMEs, and corporates.
Together, these developments mark a strategic pivot, from a single-line life insurer to a multi-line powerhouse. By combining life, health, and general insurance with deep market insights and robust digital infrastructure, Equity is redefining the insurance experience across Kenya and East Africa.
Seamless Integration: Insurance Meets Everyday Banking
One of Equity’s most powerful differentiators is its ability to embed insurance into everyday banking. Through Equity Bancassurance Intermediary Limited, customers can access insurance products alongside routine financial services.
This integrated model simplifies insurance, builds trust, and promotes uptake as part of long-term financial planning.
“We are making insurance as accessible as mobile money,” said Jane Njeru Principal Officer – Equity Bancassurance, emphasising the Group’s commitment to convenience and customer-centricity.
This seamless integration is especially vital in a market where insurance penetration remains low. By leveraging its vast branch network, mobile platforms, and trusted brand, Equity is turning insurance from a luxury into a necessity.
Social Impact and Financial Inclusion
Equity’s insurance strategy is not just about profits; it’s about purpose. The Group’s digital-first approach ensures that even remote and underserved communities can access protection. With 80% of policies issued digitally, Equity is breaking down barriers of geography, literacy, and affordability.
This aligns with the Group’s broader mission to promote financial inclusion and shared prosperity. Whether it’s a farmer insuring their crops, a boda boda rider protecting their bike, or a family securing health coverage, Equity is enabling Kenyans to plan, protect, and prosper.
“Insurance is a tool for dignity. It empowers people to face life’s uncertainties with confidence,” said Equity Group Foundation Executive Chairman Dr James Mwangi.
Looking Ahead: A New Chapter for Insurance in Kenya
Equity Group’s insurance transformation is more than a business strategy—it’s a national imperative. By offering comprehensive, affordable, and accessible protection, the Group is helping Kenyans build resilience, reduce vulnerability, and unlock opportunity.
As Equity continues to scale its insurance offerings, the focus remains clear: customer-centric innovation, digital inclusion, and social impact.
From life and health to general insurance, Equity is not just covering risks; it’s covering lives.
