Old Mutual boosted by dropped underpriced customer accounts

Old Mutual Holdings net profit rose to Sh882 million in the half-year to June 2026, exceeding its 2025 full-year earnings in six months, riding on the benefits of disposing of underpriced medical customer accounts.

Underpriced customer accounts in insurance refer to policyholders whose premium payments are lower than the true level of risk they pose to the insurance company. The insurer’s net profit was 176 times the Sh5 million posted in a similar period last year and more than the Sh856 million it recorded in the 12 months ended December 2025.