Liberty Kenya Holdings has reported a 108.5 percent surge in profit after tax, reaching Sh1.402 billion for the financial year ending December 31, 2024, up from Sh672 million in 2023.
The company attributes this impressive growth to strong investment gains, higher insurance earnings, improved claims experience, and disciplined cost management.
Earnings per share more than doubled, rising by 112 percent to Sh2.59 from Sh1.22 in the previous year, highlighting the company’s strong financial performance and commitment to shareholder value.
Liberty Kenya’s net investment income soared by 233 percent to Sh4.741 billion in 2024, compared to Sh1.424 billion in 2023. This spike was largely driven by a recovery in capital markets and favorable interest rate movements in the latter half of the year.
Additionally, the Group’s insurance revenue climbed to Sh10.95 billion, while insurance service expenses saw a slight decline of 1.1 percent to Sh8.53 billion from Sh8.62 billion in 2023. This led to an insurance service result of Sh1.004 billion, reflecting a 5.6 percent increase from Sh951 million reported the previous year.
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Liberty Kenya’s total assets also expanded by 10 percent to Sh48.15 billion, up from Sh43.76 billion in 2023, reinforcing the company’s financial strength and its ability to meet future obligations.
Commenting on the results, Liberty Kenya Holdings Group Chief Executive Officer Kieran Godden stated, “Our strong 2024 performance reflects our consistent focus on delivering sustainable growth while protecting and growing our clients’ wealth.”
“Despite operating in a complex macroeconomic environment, our teams delivered exceptional results by combining prudent risk management, customer-centric innovation, and strong investment returns,” he added.
