Sanlam Kenya posted net profit of 639.7 million shillings (about 6.2 million USD) for the first half of 2019, after a loss of 1.5 billion shillings after tax in the first six months of the year former.
“The investments recorded impressive gains in the market value of Sanlam’s treasury and equity portfolios, bringing non-insurance revenues to 1.9 billion shillings compared to 41 million shillings in the same period. last year, “according to Patrick Tumbo, chief executive of the former Pan Africa Insurance Holdings, quoted by the local press.
“Efforts to recover the Group’s impaired assets of more than 2.2 billion shillings from financially troubled institutions are still ongoing and remain a top priority for the sector this year,” he said. added.
The company’s basic insurance revenues increased from 3.11 billion shillings at June 30, 2018 to 3.35 billion shillings a year later, an increase of 17 percent due, it is said, the improvement in investment performance and the positive impact of a revision of the legal interest rate risk margin.
