GCR Ratings confirmed that Liberty Life Assurance Kenya Limited and The Heritage Insurance Company Kenya Limited each retain an AA+(KE) national‑scale rating with a Stable Outlook, reflecting the group’s solid capital base and liquidity position.

The agency highlighted the subsidiaries’ diversified insurance portfolios, prudent risk management and the strategic link to South Africa’s Liberty Holdings as key factors behind the ratings.

Combined insurance revenue for the group rose to KSh11.9 billion in 2025, up from KSh10.9 billion in 2024, driven by growth in both life and general insurance lines.

Liberty Life posted a 17.3 % increase in revenue to KSh3.2 billion, largely from group life and group credit insurance, and boosted its statutory capital adequacy ratio to 244 % after a KSh600 million subordinated loan.

The Heritage Insurance Company grew revenue by 5.6 % to KSh8.7 billion, supported by an expanding medical insurance business, and improved its capital adequacy ratio to 466 %.

As of 31 December 2025, Liberty Kenya’s overall capital adequacy ratio stood at 2.6 times and its liquidity coverage ratio at 2.2 times, both above regulatory thresholds.

GCR projects the group’s capital and liquidity metrics to stay robust over the next 12‑18 months, keeping the Stable Outlook for both subsidiaries.

Despite the positive ratings, the group’s insurance service result fell to KSh478 million in 2025, down from KSh1.1 billion in 2024, due to higher claims and lower investment income.

Group CEO Kieran Godden said the ratings underscore the financial resilience built across Liberty Kenya’s insurance operations and reaffirm the company’s focus on capital management, risk control and sustainable growth.