Old Mutual net profit up 2pc amid pullback from medical business deals

Old Mutual Holdings posted a marginal 2.1 percent net profit growth to Sh856 million in the year ended December 2025, when it dropped poorly priced medical accounts and also closed its businesses in Tanzania and South Sudan.

The insurer had recorded a net income of Sh838 million the year before. The earnings grew despite a five percent reduction in insurance revenue to Sh32 billion, which was attributed to rejecting medical contracts worth Sh1.3 billion that were lowly priced, exposing the insurer to losses due to thin margins.