Sanlam Kenya returns to profitability in 2019

Sanlam Kenya, a subsidiary of the South African insurer Sanlam, ended the 2019 year with a net profit of 144.4 million KES (1.41 million USD) compared to a loss of 1.9 billion KES (18.55 million USD) one year earlier.

Such profitability is accounted for by a 50% growth in the revenues generated by gross premiums and by investments. By 31 December 2019, Sanlam Kenya's total premiums reached 6.99 billion KES (68.37 million USD), rising by 10.18% compared to 2018.

The net life insurance turnover remained stable at 3.95 billion KES (38.64 million USD) compared to 3.93 billion KES (38.37 million USD) in 2018. For its part, non-life insurance generated 1.69 billion KES (16.53 million USD) in net premiums, increasing by 18.18% in comparison with the previous year.

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