Equity Group Holdings Plc is redefining how insurance is delivered in Kenya, bringing together life, health, and general insurance under one roof as part of its mission to offer holistic financial solutions for all.
This transformation is anchored in Equity’s growth and diversification strategy, with its insurance arm, particularly through Equity Life Assurance Kenya (ELAK), demonstrating strong performance, innovation, and social impact.
Delivering Impact Through Growth
Equity’s insurance business delivered strong results in the first half of 2025, with Profit Before Tax rising by 26% to Kshs. 932 million. The growth in profit was supported by a 115% increase in gross written premiums, of Kshs. 5.181 billion up from Kshs. 2.414 billion. Insurance revenue grew by 59% while total assets grew by 40% to Kshs. 31.48 billion up from Kshs. 22.4 billion. Profit after tax was 27% up from Kshs. 520 million to Kshs. 660 million. This growth reflects sustained customer demand, a digital-first distribution model, and continued expansion of its product offerings.
Equity Life Assurance saw gross written premiums grow by 58% to Kshs. 3.8 billion up from Kshs. 2.4 billion with net insurance and investment revenue growing by 18% to Kshs. 953 million up from Kshs. 808 million, with profit before tax rising by 20% to Kshs. 890 million from Kshs. 740 million. Insurance contract liabilities grew by 22% to Kshs. 23 billion up from Kshs. 18.9 billion. Total assets increased to Kshs. 28.6 billion up from 22.4 billion. Return on equity stood at 40.7% with a return on assets of 4.7%. Within 3 years of operation, Equity Life Assurance has reached 6.7 cumulative unique customers and issued 16.6 million policies with a remarkable 80% delivered digitally.
The General Insurance, which began operating this year, has had a strong start with a Kshs. 1.36 billion gross written premiums within 6 months generating Kshs. 640 million insurance revenue to register a profit before tax of Kshs. 32 million, a 6.6% return on equity and a 2.8% return on assets.
The Group has also expanded its insurance portfolio with the acquisition of a health insurance license in July 2025, complementing its existing life and general insurance products and positioning it as a fully composite insurer.
Building a Complete Protection Suite
Equity Group continues to broaden its insurance offering with a focus on delivering comprehensive protection to customers across all life stages and needs. Building on the strong foundation of ELAK, the Group is expanding into both health and general insurance to offer a full spectrum of insurance solutions.
In line with this vision, Equity has acquired a health insurance license. This will allow the Group to provide quality, affordable medical coverage, further complementing its life and general insurance offerings. This development reinforces Equity’s commitment to safeguarding the health and well-being of individuals, families, and businesses.
Simultaneously, the Group reached a major milestone in 2024 with the launch of Equity General Insurance, following regulatory approval. This new entity expands access to insurance products such as motor, property, fire, personal accident, theft, and liability insurance, filling key protection gaps for individuals, MSMEs, and corporates alike.
Together, these developments signal a new chapter for Equity Assurance as it transitions from a single-line life insurer to a fully integrated, multi-line insurance provider. By combining life, health, and general insurance with its deep understanding of local markets and robust digital infrastructure, Equity is reshaping the insurance experience across Kenya and the region.
Seamless Integration of Insurance and Banking
One of Equity’s enduring strengths lies in its ability to embed insurance into everyday banking. Through Equity Bancassurance Intermediary Limited, customers can access insurance products alongside their routine banking services. This integrated approach helps demystify insurance, build trust, and promote uptake of coverage as part of long-term financial planning.