Equity Group’s expansion into insurance is accelerating just as financial pressures reshape how Kenyan households manage risk, positioning the business as a key growth engine beyond traditional banking.
- •The Group’s insurance arm posted a 75% jump in gross written premiums to KSh 9.17 billion for the year ended 2025, while profit before tax rose 36% to KSh 2.0 billion and insurance revenue surged 150% to KSh 3.57 billion.
- •Equity General Insurance delivered KSh 1.79 billion in gross written premiums and KSh199 million in profit before tax in its first full year of operations.
- •Equity Health Insurance, a newer entrant, is also showing early promise- within four months of operations, it recorded KSh 20 million in premiums and KSh 40 million in profit before tax.
“The subsidiary has achieved significant scale, now serving 6.9 million unique customers and issuing 19.2 million policies since inception, reinforcing its leadership in inclusive insurance,” Equity Life Assurance (Kenya) Limited Managing Director Managing Director Angela Okinda said.
The rapid growth comes at a time when underlying demand for insurance is being driven less by choice and more by necessity. Data from the Financial Wellness Monitor 2025 shows that while financial stress has eased slightly, 43% of working Kenyans remain highly stressed, with nearly four in ten still worried about debt
More telling is the growing exposure to financial shocks. A significant share of borrowers are taking loans to cover basic needs, and among those facing emergencies, medical costs stand out as a key trigger, with over a quarter resorting to credit to meet health expenses. Yet only 42% feel adequately insured, highlighting a wide protection gap.
